5 November 2009
Abuja — The federal government agencies responsible for the records keeping in oil revenue and production are harmonising and integrating their measurement systems, the consultant to the Extractive Industry Transparency Initiative's (NEITI) has said.
The agencies are the Central Bank of Nigeria, Federal Inland Revenue Service, Revenue Mobilisation and Fiscal Allocation Commission, Accountant General Office of the Federation, Department of Petroleum Resources, NAPIMS and the Crude Oil Marketing Department of the Nigeria National Petroleum Corporation (NNPC).
Telemetry Limited said in a meeting yesterday in Abuja that the agencies have commenced the process of revenue harmonisation.
The Executive Chairman Telemetry Limited Yabagi Y. Sani said the process is a continuation of the study to progress the remediation plan for the proper reposition of the measuring infrastructure in the oil and gas industry in Nigeria.
"What we are expecting is a sort of consensus on the way forward. Before this meeting we have sent questionnaires templates to know the status of Information Technology infrastructure and the exchange of information among these agencies", he said.
He said: "We are going to look at the completed questionnaires and come up with the status-quo as it is today and then proffer solution on how these agencies can be liked with the engineering sector of the economy."
Daily Trust learnt that before now there were no harmonised oil records and revenue in the country. With this project sponsored by the World Bank, Engineer Sani said Nigeria will have a system with a complete network and possibly come up with an inter-ministerial committee that will spearhead and put a system is in place within the shortest possible time.
He explained that the oil and gas sector has three sub-sectors which include revenue and Finance, Operations and the Regulatory. "We are interacting with each of the group in order to find out what their own views are and how they see the industry", he said.
He said the next step after the meeting will be a visit to facilities like the production platforms, oil well heads and flow stations to the terminals.
"At the end of the day all the sectors will be linked with one another and the operation facilities", he said.
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