27 November 2012, Sweetcrude, Abuja – Nigeria says it is set to shut upstream oil and gas terminals without metering systems.
The move is part of efforts by the government to bring transparency into the process of oil production in the country, where huge revenue is allegedly being lost to shady deals and lack of accountability.
The Federal Ministry of Trade and Investment is undertaking this in collaboration with its consultant, Nigerco Nigeria Limited, in compliance with a 2004 Act.
Chief Executive Officer, Nigerco, Yabagi Sani, said in Abuja: “It is very surprising that we are having very stiff opposition from the oil and gas sector (concerning installation of meters).”
He explained that the opposition was coming in the form of “refusing weights and measures and staff access to their terminals.”
He said knowing the capacity of the programme to curtail infractions which have become a norm in the country and businesses, there has been an opposition from stakeholders who want to maintain the status quo where the citizens and the economy suffer huge losses due to lack of correct measurement in trade transactions.
“The law makes provisions for sanctions which is to seal-off terminals. We can seal-off terminals until you comply, and we are at a stage where we are going to seal. We will seal terminals and seal facilities,” he said.