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The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday, said it would commence the installation of its own flow meters on oil production facilities and pipelines in the upstream sector.

The move, though radical, considering that the nation has always depended on data from oil producing firms, has been approved by President Muhammadu Buhari, and is expected to save the nation billions of dollars lost through inaccurate meters and dependence on oil companies for data.

It is believed that Nigeria does not know its daily oil production. The NUPRC Chief Executive Officer, Gbenga Komolafe, confirmed that the nation relies on production data from operators, rather than the regulator sourcing its own data from its own installed meters.