June 25, 2021

NEWS AGENCY OF NIGERIA

Africa's Media Giant

PEF to encourage petroleum products transport by rail

Executive Secretary, Petroleum Equalisation Fund (PEF), Alhaji Ahmed Bobboi

Executive Secretary, Petroleum Equalisation Fund (PEF), Alhaji Ahmed Bobboi

Executive Secretary, Petroleum Equalisation Fund (PEF), Alhaji Ahmed Bobboi says plans are in pipeline to commence transportation of petroleum products through rail lines to save cost.

By Edith Ike-Eboh

The Executive Secretary, Petroleum Equalisation Fund (PEF), Alhaji Ahmed Bobboi says plans are in the pipeline to commence transportation of petroleum products through rail lines to save cost.

Bobboi, who said this during an interaction with newsmen in Abuja on Sunday, noted that petroleum product marketers needed a cheaper and convenient way of transporting products.

He said efforts had been intensified to ensure early usage of rail lines in the transportation of petroleum products.

“We are also looking at the possibility of petroleum marketers transporting their products by rail because government is providing rail lines across the country.

“If marketers patronise railway system it will increase the volume of petroleum product being transported because one rail journey will take 20 or more cargoes of the product.

“It will save cost and reduce pressure on the roads because most state governments are complaining that heavy duty vehicles have destroyed the roads and I think it will reduce the cost of road maintenance for government,” Bobboi said.

According to the Bobboi, PEF will continue to discharge its duties to ensure that there is uniform pump price of petroleum product nationwide.

He likened PEF activities on petroleum product to coca cola and bottle water which had the same price nationwide.

“It is the same approach that PEF adopts in equalising for petroleum product especially Premium Motor Spirit (PMS), Low Pour Fuel Oil (LPFO), Dual Purpose Kerosene (DPK), and Automotive Gas Oil (AGO) popularly known as Diesel,” Bobboi added.

NAN report that PEF was established in 1975 with a mandate to administer uniform pump price of petroleum product particularly sold at various filling stations nationwide. (NAN)

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