The Department of Petroleum Resources was the regulatory agency that issues licences to bunkers. “The issuance of licence was suspended in 2000, but resumed in 2013 under the former administration of President Goodluck Jonathan due to irregularities and sharp practices in the oil and gas sector,” he said. He, however, noted that appropriate bunkering business is a money generation venture for the government.
“This is necessary because illegal bunkers do sell cheaper and will drive legal bunkers out of business thereby killing the legal bunkering business,’’ Usman said. According to him, illegal bunkering causes the country to bleed economically and no government could afford to allow such illegal actions. “Regulation is very necessary for revenue generation through licencing of bunkers and the protection of the country’s oil infrastructure.’’