Oil & Energy
‘Stop Giving Allocation To Portfolio Oil Marketers’
Following the inability of
some petroleum tank farms to secure import allocation from the government in 2015, a member of the Petroleum Tanker Drivers (PTO) branch of the National Union of Petroleum and Natural Gas (NUPENG) and Vice Chairman of Ascon Unit, Comrade Owolabi Jimoh, has called for proper monitoring of import allocation distribution.
Awolabi urged the government to ensure that it pays more attention to the activities of some of the petroleum tank farms, especially those situated in Lagos.
He suggested that government should stop giving import allocation to portfolio marketers who do not own tank farms, and noted that this has been the bane of fuel distribution in Nigeria.
According to him, some of the marketers collect the allocation and sell it off in Ghana and other neighbouring countries rather than giving it directly to Nigeria importers.
Owolabi pointed out that the fuel that is being distributed today are part of allocation for the last quarter of the year 2014.
He further alleged that capital oil has been the only depot having regular supply of fuel while other tank farms have been rendered jobless and called on government to ensure equal distribution of the allocation.
He suggested that allocation should be given directly to depot owners and not portfolio marketers, to avoid crisis.
“The whole country depends on Lagos, about 67 tank farms are in Lagos and that is why there has not been any crisis, but if you go to many of these tank farms, you will not find them selling product, yet the depot owner will pay his staff and pay tax, tenement rate and so on”, he said.
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Oil & Energy
Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
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