The Petroleum Equalisation Fund (Management) Board will from next week commence the withdrawal of its staff from facilities belonging to oil marketers indebted to the fund over non-payment of bridging allowances.
The decision, according to the fund, was in accordance with the directive by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.
In the supply of petroleum products, major marketers remit bridging allowance of N6.20 per litre to PEF from where other marketers and transporters are paid.
The category of marketers in question comprise members of the Major Oil Marketing Association of Nigeria (MOMAN), including MRS, Total, Oando, Mobil, Forte Oil and Conoil) and 84 members of the Depot and Petroleum Products Marketers Association (DAPPMA).
PEF Management Board said while it had since begun implementation of the minister’s directive, and will expand its enforcement drive from next week.
General Manager, Corporate Services of the PEF, Goddy Nnadi, while confirming the development, said the enforcement would not have any impact on petroleum products supply.
“We are working with NNPC to ensure that there is full and steady supply of products because many of the farm tanks have products,” he said.
