The Vice-President, Dr Mahamudu Bawumia, has commended the National Petroleum Authority (NPA) for leveraging on the government’s digitization drive to create an innovative solution to a major problem in the petroleum industry.
“I am particularly delighted that the NPA is leveraging on technology to improve efficiency;and effectiveness in the distribution of petroleum products in the Petroleum Downstream Industry.”
Dr. Bawumia
He made this statement whiles speaking at the launch of an innovative Digital Retail Fuel Monitoring System by the National Petroleum Authority in Accra.
Dr Bawumia revealed that there has been staggering losses in petroleum revenue to the government due to illegal activities in the distribution of petroleum products. He added that the initiative by the NPA will end the problem of revenue loss and significantly boost government’s revenue.
“It is estimated that between 2015-2019, the government lost GHC4.7 billion in tax revenue as a result of illegal activities in the petroleum sector.
“Actions, decisions and policies of individuals and corporate bodies which result in petroleum product distribution leakages and the associated revenue losses to the State have serious negative effects on the developmental agenda of the government.”
Dr. Bawumia
Furthermore, Dr Bawumia underscored the significance of the innovation to the overall development agenda of the government, highlighting the importance of petroleum revenue.
Petroleum taxes major revenue source
He indicated that taxes and levies on petroleum products are major sources of revenue for the government;in pursuing its developmental agenda.
“With this latest initiative of the Retail Outlet Fuel Monitoring System, we look forward to blocking revenue leakages. And improving revenue mobilization that would contribute to Government’s efforts to providing;social services and funding for infrastructural development.”
Dr. Bawumia
Also speaking at the launch, the Minister for Energy, Dr. Matthew Opoku Prempeh urged stakeholders in the petroleum industry to exhibit patriotism and join hands with the NPA to help curb illegal activities in the interest of the state.
The Energy Minister also urged all the various stakeholders to embrace innovation in order to make Ghana a better place for all.
The Fuel Monitoring System, which allows fuel in Oil Marketing Companies tanks across the country to be monitored by NPA,;will curb illicit activities in the petroleum downstream sector, such as unauthorised third-party deliveries, fake receipts, smuggling, among others.
Under the Fuel Monitoring System, any OMC that receives illegal fuel would be found out.
The Digital Retail Fuel Monitoring System, with a command centre at the NPA’s head office,;will also be able to monitor in real-time online, every fuel sales data from the pumps,;get station tank fuel levels data and fillings, handle overall wet-stock management and handle complete fuel management.
The system will also be able to manage all fuel-related data, among other things in real-time.
