The Major Oil Marketers Association of Nigeria (MOMAN) has called for the automation of the industry in order to facilitate transparency in the downstream sector of the oil industry.
The group also identifies that inadequate investment in modern technology to drive data collation is a major factor affecting initiatives to promote transparency and accountability in the country’s downstream oil industry.
Speaking at a virtual “Workshop On World International Data Day” in Lagos, the executive secretary of MOMAN, Mr. Clement Isong, said the importance of data and automation in the downstream business cannot be overemphasized.
According to him, automation will ensure transparency and boost excellent customer service, eliminate fraud, and corruption and clean up the reputation of the industry.
He urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to invest in infrastructure for data gathering.
“Our position in MOMAN is that we are looking for the automation of the entire supply chain. It will mean everybody needs to invest in order to optimise their businesses. The beneficiary eventually will be the customer,” Isong stated.
The MOMAN scribe said it is good for corporate governance. “It removes people’s ability to steal and the authority (NMDPRA) itself has got to invest in infrastructure for data gathering and has got to do a preliminary analysis of that data and has to put up that information on its website which investors, marketers operators, and everybody can access.”
By Ken Okoye