FG MULLS EXTENSION OF PETROL PARITY FUND TO GAS SUPPLY NATIONWIDE

Written by on May 10, 2021

THE FEDERAL YESTERDAY INDICATED THAT IT IS CONSIDERING EXTENDING THE CURRENT EQUALISATION SCHEME IN THE PETROL SUPPLY SYSTEM IN THE COUNTRY TO THE MOVEMENT OF GAS ACROSS THE COUNTRY TO MAKE THE PRODUCT MORE AVAILABLE AND ACCESSIBLE TO NIGERIANS.

SPEAKING DURING AN INTERACTIVE SESSION WITH ENERGY CORRESPONDENTS IN ABUJA, THE EXECUTIVE SECRETARY, PETROLEUM EQUALISATION FUND (PEF) MANAGEMENT BOARD, MR AHMED BOBBOI, NOTED THAT WHEN THE POLICY BECOMES FUNCTIONAL, IT WILL HELP TACKLE INFLATION ASSOCIATED WITH INCREASES IN GAS PRODUCTS.

PEF’S MAIN FUNCTION IS TO ENSURE PRICE UNIFORMITY OF PETROLEUM PRODUCTS VIA THE REIMBURSEMENT OF MARKETERS FOR TRUCKING PRODUCTS TO FILLING STATIONS ANYWHERE IN NIGERIA.

THE EXECUTIVE SECRETARY STATED THAT THE SCHEME HAD YET TO FULLY TAKE OFF BECAUSE THE GOVERNMENT WAS STILL PROPAGATING THE USE OF GAS AS AN ALTERNATIVE FUEL AND WAS YET TO GET ITS FULL ADOPTION BY THE MAJORITY OF NIGERIANS


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