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‘How We’re Tackling Fuel Fraud’

Tuesday, October 29, 2019

The Managing Director, Concept Nova, Chukwuma Ochonogor has said that the firm’s fuel management system has eliminated  fuel theft suffered by many businesses, especially fleet operators .

He spoke during a Product Knowledge Session held in Lagos.

The solution named Fuel Control System (FCS) is cloud-based software designed to monitor fuel in the tank and the asset’s location. It assists business owners to optimize their diesel consumption and offer abundant return on investment.

It comes in two variants – a stationary FCS for tanks and a mobile FCS for trucks.

Ochonogor stated that “the Fuel Control System enables corporate heads, business/asset owners and operation managers in different industries such as transportation, haulage and Logistics, shipping and delivery Services, among others have ultimate control over their diesel usage.

The solution, according to Ochonogor “is a unique and flexible fuel management solution designed to get real-time information on diesel consumption and fueling activities. It also allows you to get various alerts of any unusual and suspicious activities such as diesel tampering, theft or tampered refueling process that occurs within your organisation”.

He mentioned that according to the World Bank, 70 per cent of firms in Nigeria use generators. This has made diesel the second or third highest expense for organizations. Being one of the highest operational expenses does not deter employees and vendors from stealing diesel. Their acts increase organizations’ budget which eats into their Return on Investment .

However, with Stationary FCS, organisations can get prompt alerts that would eliminate theft and reduce fueling cost greatly, he said.

He further explained that the Mobile FCS has a vehicle tracking feature alongside the many benefits integrated to the solution. The vehicle tracking feature gives precise information about the location and time of criminal activity to the authorized individual assigned in your organization.

This would aid in taking disciplinary actions and facilitate effective decision making.

Source: The Nations