Tracking of Petroleum Products: Timipre Sylva Seeks Resolution of Conflict in DPR, PEF mandates.

Most of the working hours of the Honourable Minister of State, Petroleum Resources, Chief Timipre Sylva, on Tuesday, 17th September, 2019 was taken up by a meeting seeking to resolve conflicts in the roles of the Department of Petroleum Resources (DPR) and Petroleum Equalization Fund (PEF) regarding tracking of petroleum products from source to destination.

At a presentation earlier which the Honourable Minister said he directed to be stopped, Chief Timipre Sylva said he was of the impression that it is the Department of Petroleum Resources (DPR) that has the mandate to track petroleum products from source to destination and Petroleum Equalization Fund (PEF) is to concern itself with paying equalization. The Honourable Minister therefore stopped the presentation being made by PEF on tracking until he could get a better briefing on the issue.

HMSPR Chief Timipre Sylva in meeting with DPR Officials, Tuesday, 17 September, 2019

The briefing/presentation of Tuesday, 17th September, 2019 which initially started in the Office of the Honourable Minister on the 11th Floor of NNPC and concluded afterwards at the Conference Room of the Permanent Secretary on the 6th Floor, was called at the instance of the Honourable Minister to understand and properly straighten things out between the two Agencies of the Ministry.

The Permanent Secretary of the Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan who was at the meeting tried to let the Honourable Minister know that PEF pays equalization hence it tracks petroleum products loaded by trucks from Depot to Fuel Stations so as to know the equalization it has to pay.

Even with the Permanent Secretary’s explanation, the Honourable Minister, Chief Timipre Sylva directed that efforts had to be made by PEF to curtail profiteering from equalization payment when a truck loads petroleum products and offloads first at a fuel station and could reload same product then diverts the same to another destination, thus getting equalization paid twice by PEF.

Chief Sylva directs more enforcement to get things right between DPR and PEF not just in terms sorting the mandates of the two Agencies of Government regarding tracking but urged that “We need to work closely for this industry to move forward”.. “Let’s try and work together and ensure we deliver value to our people.”


Signed:

Olujimi Oyetomi
Head, Press Unit,
Ministry of Petroleum Resources.

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