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PEF plans to pay marketers within one week

…AS NASS sets to pass PIB before end of year


ABUJA The Manage-ment Board of Petroleum Equalisation Fund, PEF, said it has put in place adequate measures to pay oil marketers one week after submission of their claims.

Executive Secretary of Petroleum Equalisation, Management, Board, Mrs. Adefunke Kasali, said the board paid marketers within four weeks

Kasali, who spoke  while receiving members of the House of Representatives Committee on Petroleum Downstream, who were in PEF for oversight function in Abuja, said the introduction of ‘Project Aquila 2’ was intended to fast-track payment to marketers within one week.

This came as Chairman of the Committee on Petroleum Downstream, Peterside Dakuku, revealed that the Petroleum Industry Bill, PIB, had passed first and second readings in the House of Representatives, adding that it was now with the ad hoc committee on PIB and assured that the bill would be passed by the National Assembly before the end of the year.

She said: “We are confident that one week payment of verified claims is achievable. By the time we roll out ‘Project Aquila 2’, which is intended to monitor movement of products from the depots to retail outlets which will enable us have the required information within a very short period of time, we should be able to make that happen.

“This is to extend the charge to my staff to get ready to make that happen and I am sure within a short period of time we will achieve that feat.”

In his address earlier, Chairman of the House of Representatives Committee on Petroleum Downstream, Peterside Dakuku, explained that prompt payment of marketers within a very short period would ensure continued availability of petrol eum products in most parts of the country at the approved prices.


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