FG unveils projects to stop petroleum revenue leakages

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The minister of State for Petroleum Resources, Mr. Timipre Sylva , has launched Operation White Project which is aimed at  offering  core benefits of stopping the revenue bleeding in the downstream sector.

The initiative is also designed to ensure that every molecule of petroleum product imported into the country is utilized within the nation’s border;and  boost transparency and accountability, enhance energy security and create job opportunities.

The Project Command and Control Centre comprises  top professionals  from the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA), Petroleum Equalisation Fund (Management) Board (PEF) and the Department of State Security.

Sylva, who was r represented by the Executive Secretary of PEF, Mr. Ahmed Bobboi, said  that the President Buhari led administration would  place the oil and gas sector on a growth trajectory.

He called for firm collaboration between the downstream players while reiterating the need for stakeholder support to ensure the success of Operation White.

The Launch event was attended by the top echelon of the Nation’s Petroleum Downstream Industry represented by Major Oil Marketers Association of Nigeria, Depots and Petroleum Products Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, Nigeria Union of Petroleum and Natural Gas Workers, PPPRA, PEF(M)B, DPR and the top management of NNPC who pledged their firm commitment and support to the project and expressed their excitement at the inevitable gains that will be delivered.