The Petroleum Equalisation Fund said on Monday that no fewer than 10,000 trucks had been registered under its system of electronic loading of petroleum products at oil depots around the country.
The Fund’s General Manager, Corporate Services, Mr Goddy Nnadi, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja.
Nnadi said that the scheme otherwise known as “Project Aquila” entailed tagging of the trucks to ensure proper monitoring and delivery of petroleum products across the country, adding that the registration was free.
The Petroleum Equalisation Fund said on Monday that no fewer than 10,000 trucks had been registered under its system of electronic loading of petroleum products at oil depots around the country.
The Fund’s General Manager, Corporate Services, Mr Goddy Nnadi, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja.
Nnadi said that the scheme otherwise known as “Project Aquila” entailed tagging of the trucks to ensure proper monitoring and delivery of petroleum products across the country, adding that the registration was free.
NAN reports that e-loading is an automated scheme aimed at providing accurate data for petroleum products distribution and ensures transparency and efficiency in the management of “bridging claims” to marketers.
Nnadi said that the trucks were registered in the first and second phases of the scheme, adding that 5,000 trucks were registered in each of the phases.
“The first phase or “Project Aquila 1” focused on depot-to-depot activities but “Project Aquila 2”, the second phase, is to track products’ movement from depot to outlets, to check diversion.
“It is to ensure that any product that is meant for particular outlet actually gets there.
“With the new scheme, which has large capacity more than the old one, it will be difficult for anyone to steal products in transit,” he said.
According to Nnadi, in the second phase of the scheme, a tag is engraved to the body of the truck; it is a more permanent system that cannot be tampered with.
“Once the information is encoded through the Radio Frequency Information Device (RFID), it can only be decoded at the outlet through the same device,” he explained.
He said that the project would ensure a “win-win” situation for marketers, PEF and the nation, adding that the scheme would ensure that claims of oil marketers involved in haulage of petroleum products were processed faster.
“It will bring about transparency, eliminate wastage and ensure reduction in human errors in the processing,’’ he added.
Nnadi also said the process would help to check diversion of products, enhance uniformity in price and ensure adequate supply of the products across the country.
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