NEITI to study Nigeria’s actual PMS consumption, utilisation of 13% derivation

The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed plans to conduct a study to determine Nigeria’s actual volume of Premium Motor Spirit (PMS) consumption.

It said the proposed study would also include utilisation of the 13% derivation, a percentage of oil and gas revenue paid to oil and gas-producing States.

Speaking at a Civil Society Consultative Forum organised by the agency, its Executive Secretary, Dr. Orji Ogbonnaya, said both reports would be commissioned in 2023.

According to him, there is no available information on both, hence the need for the Agency to make such information available to the public.

He said the independent report will state the quantity of PMS  consumed and cost, adding that this will be used to manage the deregulated oil and gas sector.

“We are also commissioning another report on the actual PMS consumption in Nigeria, and no such information exists.

“We are going to conduct an independent report to establish precisely how much quantity that Nigerians consume, what it costs, and that information will be used to manage the sector without subsidy,” he said.

The data on the actual daily consumption of PMS has, in recent times, sparked controversies among industry stakeholders.

As of March 2023, the daily consumption was put at an approximated 80 litres, this was prior to the removal of the subsidy.

On the other hand, the Executive Secretary also disclosed that the Agency will conduct a study to provide information on utilisation and management of the 13% derivation fund.

He said the report, among other objectives, will highlight, “if the States are getting what they should get and if the government is paying the states what they should pay them.

“For now, no such information exists. It is a special report we are commissioning this year.”

While commending the move, the Executive Director, the Centre for Transparency Advocacy, Mrs Faith Nwadishi, urged the agency to engage State Civil Societies in conducting the study on 13% derivation.

READ ALSO FROM NIGERIAN TRIBUNE 

• Niger: Another gamble by the Giant of Africa?

• Press Time Poscast: Navigating Toxicity As An Employee

• VIDEO: NGO Founder, Omodolapo, urges women to join women communities

• I broke my leg on set of Jagun Jagun movie —Adedimeji Lateef

• FLICKERS: Obi, Atiku, Tinubu: Judgment day beckons

• EDITORIAL: Nigeria’s FIFA shame