DPR launches digital platform to check product hoarding, artificial scarcity

The Department of Petroleum Resources (DPR), on Thursday, launched its Downstream Remote Monitoring System (DRMS) to check against product hoarding, artificial scarcity and adulteration among others.

It described the digital system as an inventory management solution for petroleum product supply and distribution.

Speaking at the official launch, Director, Engr Auwalu Sarki, explained that the new platform will reshape the conduct of business in the downstream sector of the oil and gas industry.

While noting its importance, he said this will further provide the required information to drive value from existing businesses, investments to fund expansions and growth opportunities for new ventures.

“It will also enable business owners to monitor the operations of their facilities from the comfort of their offices.

“To do that, you need to know how much petrol we consume, how much do we really need. DRMS enables you to take inventory per station, per state, where it is coming into the country, where it is stored, and how it is distributed right to the filling station.

“When we see the population is not in tandem with what we consume then we know something is happening there,” he said.

He also disclosed that the DRMS has been configured to feed into the Integrated Data Mining and Analytics Centre (IDMAC) recently launched in Lagos.

Earlier, Board of Trustees Chairman, Independent Petroleum Marketers Association of Nigeria (IPMAN)Alhaji Aminu Abdulkadir calls for adequate representation of the Association in future engagements.

According to him, the association which currently 87 per cent downstream representation stands as the largest should be well enlightened on operations of the new system.

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