Reps ask PEF to settle debts owed petroleum transporters

A House of Representatives panel has asked the Petroleum Equalisation Fund (PEF) to ensure that it quickly and promptly settles all outstanding debts it owes petroleum transporters in the country.


The House Committee on Petroleum Resources (Downstream), chaired by Joseph Akinlaja, (PDP, Ondo), said during an oversight visit to the agency in Abuja, that the transporters had been patriotic enough not to go on strike despite being owed. While expressing satisfaction with the way the agency had managed to pay claims without resulting to government’s assistance, the transporters said government should not take them for granted as they had exercised a lot of patience.

The Executive Secretary of PEF, Ahmed Bobboi, commended the National Assembly, particularly the House of Representatives, for passing the Petroleum Industry Governance Bill (PIGB).


Bobboi said the agency paid N7.20k as bridging on every litre of petrol sold in Nigeria, N3.50k for equalisation, and 15k for marine transport.

He said payments from marketers to the agency for 2017 was about 200 per cent over what obtained in 2016, adding that NNPC still owed the PEF some money. 


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