Oil Marketers
Oil Marketers

Prof. Okoye unveils AptFuel for tracking petroleum products availability in fuel stations

An Energy expert, Prof. Billy Okoye has unveiled `AptFuel Technology’, an application capable of navigating and accessing availability, prices and ratings of petroleum products at fuel stations nationwide.

Okoye, Coordinator, Oil, Gas and Energy Marketing, University of Abuja Business School, and a former Group Executive Director, Nigerian National Petroleum Company Limited, unveiled the application alongside two books on Thursday in Abuja.

The two books he authored are entitled ‘Dynamics of Petroleum Products Marketing’ and ‘Insight into Crude Oil Marketing’.

AptFuel application which could be downloaded from the Google Play Store is a recognised system globally, that automates processes at midstream and downstream petroleum value chain.

Okoye said the app was built specifically because of the current challenges witnessed in the distribution, accessibility and pricing of petroleum products especially during scarcity.

According to him it will help to assess fuel prices, transactions, proximity and market dynamics, among others.

He said the two books aimed at navigating the volatile and changing world of crude oil market realities.

Mr Damat Abdullahi, the Chief Executive Officer, Damat and Sons Limited while reviewing the technology, said the application would help people to determine product availability at preferred destination for refuelling.

According to Abdullahi, the current happenings concerning deregulation show that there will be different price variations which will open a window for people to have choices in the prices of petroleum products.

“At the comfort of your home, once you download AptFuel mobile application in your phone, it will give you an insight of the filling station to utilise in terms of proximity, product availability and best rated according to users.

“It has a Navigation system such as the `Uber’ app which will help one to choose a preferred station from one’s comfort zone after comparing prices, then navigate your driving to the station,’’ he said.

He said the initiator (Okoye) had overtime studied the problems encountered by Nigerians and motorists concerning transactions while trying to pay at the fuel stations after fuelling their vehicles.

Abdullahi also users could access the application’s `Instant Wallet’ which could allow code generation to be given to a third party (driver) at stipulated price to be scanned by a fuel attendant for accurate sale and value.

“It is billed to have four different applications synchronised to give quick access and navigation or tracking system that will take you through the comfort of your home to the fuel station with ease,’’ he said.

Malam Mele Kyari, Group Chief Executive Officer, NNPC Ltd. lauded the author for his gestures, zeal and energy in documenting oil and gas processes as well as his urge for knowledge transfer in the academia.

“We recommend these books not only to Nigerians but to the international community to learn what Nigeria has passed through, the struggle of the past and present NNPC Ltd to keep vehicles on the road,’’ he said.

Kyari, represented by Chief Financial Officer, NNPC Ltd, Alhaji Umar Ajiya said the trajectory of refining products outside Nigeria would change in 2024 hence crude would be refined in Nigeria.

“Nigerians will no more buy petroleum products refined abroad, rather products will be refined locally,’’ he added.

In an address, Prof. Abdul-Rasheed Na’Allah, Vice Chancellor, University of Abuja who described Nigeria as the sixth biggest oil producer globally, emphasised the need to harness properly the resources through best strategies occasioned by the books.

Mr Olakekan Ogunleye, Executive Vice President at the NNPC Ltd. reviewed the ‘Dynamics of Petroleum Products Marketing’ while Alhaji Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority reviewed the ‘’Insight into Crude Oil Marketing’.

The unveiling of the books was anchored by Mr Debo Olujimi, Group Managing Director, Emadeb Energy Limited.

The books serve as valuable resources for understanding the dynamics, challenges, strategies and logistics, shaping crude oil markets in a competitive environment.

Credit NAN.