The Minister of State for Petroleum Resources, Mr. Timipre Sylva, says that the Federal Government is committed to eradicating the smuggling of Premium Motor Spirit (PMS).

According to him, this is to ensure energy sufficiency in Nigeria.

Sylva, speaking at the 16th edition of President Muhammadu Buhari’s scorecard series in Abuja, said strict measures had been put in place to deal with the threat.

The minister said measures such as improved technology, PMS equalization to close the cost differential and routine end-to-end tracking of petroleum product shipments using Lloyds List Intelligence and Refinitiv have been put in place.

On other progress made to ensure energy sufficiency, he said, “255,659 trucks have been leveled, 11,622,926,494 liters leveled, approximately N173, 200, 284, 779 leveling paid and 1,277 supply vessels tracked.

“In addition, 25,525,688,042 liters of PMS have been unloaded with an average daily sufficiency of 66.7 million liters and a total truck output volume of 24,346,614,589 liters.”

Syiva said that part of the nine mandates, in which the ministry had made tremendous progress, included completing the gas flare marketing program, increasing crude oil production to three million barrels per day.

Other mandates according to him are the reduction in the cost of crude oil extraction by at least five percent, the aggressive promotion of the approval of the Petroleum Industry Bill and the Amendment of the Production Sharing Contract. of Inland Basins and Offshore.

He further said that others were “working with private sector operators to increase domestic refining capacity, collaborating with the private sector to create many good paying jobs and implementing a strategy to lift 100 million Nigerians out of poverty.

“The top priorities to lift 100 million people out of poverty in 10 years are youth training, skills development and empowerment, corporate social responsibility, industry-led training and talent acquisition, rounds of bidding and cost reduction.

On some hot-button issues in the industry, such as the supply of petroleum products, the establishment of modular refineries and the rehabilitation of existing refineries, Sylva said that tremendous progress has been made.

Regarding the subsidy regime, the minister said that the subsidy was not sustainable.

He said that the elimination of the subsidies would go a long way in freeing up funds for other development projects that would lead to the growth of the country.

The minister said that the ministry was committed to delivering a prosperous oil and gas industry, while ensuring an enabling environment for upgrading the oil and gas value chain driven by modern technology, among others.

The Nigerian News Agency (NAN) reports that the scorecard series was coordinated by the Minister of Information and Culture, Mr. Lai Mohammed.

The event was attended by stakeholders from the oil and gas sector, as well as heads of media organizations, including NAN Managing Director Mr. Buki Ponle. others.(NAN)