‘Electronic Tracking ‘ll Curb Fraudulent Marketers’

The Petroleum Equalisation Fund (PEF) said that the electronic system of loading petroleum products, also known as ‘Project Aquila’, would effectively track fraudulent marketers.

Mr Goddy Nnamdi, the General Manager, Customer Services of the Fund, said this in an interview in Lagos.

He said that the ‘Project Aquila’ was part of the measures to check the diversion of fuel and fraudulent claims of bridging funds by transporters.

“The project will curb arbitrary and fraudulent claims usually made by marketers.

“We have tagged over 12,000 trucks, under the scheme, to give accurate number of truck loaded and entitled to bridging claims, to ensure effective loading and disbursement of claims’’

Nnamdi said that the agency had commenced electronic tracking of  loading and movement of fuel tankers across the country.

Reports say that the Petroleum Equalisation Fund (Management) Board was established through the PEFMB Act, to equalise the cost of transporting petroleum products from depots to filling stations.

This is to ensure uniform price of fuel in all parts of the country.

Nnamdi said that actual figure of the total number of tankers that transported petroleum across the country was not available.

He, however, stated that besides the electronic tracking system, the manual system would continue to be used for sometime before sanctions  would be applied against defaulters.

“When we complete tagging all trucks on the project, it will save the country billions of naira.

“We have met with top executives of most of the tank farms and facilities on the project and this is yielding good result.’’ he added.

Nnamdi said  that one of the gains of Project Aquila was that bridging claims were now paid within two weeks of confirmation of delivery of products.

He also said that products now arrived at their destinations without diversion.

According to him, the e-loading is designed to confirm delivery of petroleum products at destination and save the country huge sums of money by curtailing unwholesome practices by petroleum marketers.

He said that the project would also provide accurate data on petroleum products distribution as well as ensure transparency and efficiency in the management of bridging claims by the PEF.