Launching the programme in Accra on Wednesday April 7, Vice President Bawumia commended the NPA for leveraging on 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,” Vice President Bawumia said.
Dr. Bawumia revealed staggering losses in petroleum revenue to government due to illegal activities in petroleum distribution, adding that the initiative by the NPA will end the malady of revenue loss and significantly boost government revenue.
“It is estimated that between 2015-2019, government lost GHC4.7 billion in tax revenue as a result of illegal activities in the petroleum sector,” Dr. Bawumia revealed.
“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 undersored the significance of the innovation to the overall development agenda of government, highlighting the importance of petroleum revenue.
“Taxes and levies on petroleum products are major sources of revenue for the government in pursuing its developmental agenda,” the Vice President said.
The Retail Fuel Monitoring System, with a command centre at the NPA’s head office, will be able to monitor in real time online, every fuel sales data from pums, 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.