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PEF proposes subsidy for transportation of gas products
- Says policy will tackle inflation in gas products pricing
- Says the PEF will ensure price uniformity across the country
The Executive Secretary, Petroleum Equalization Fund (PEF) Ahmed Bobboi has stated that the PEF may extend its equalisation policy to gas products. Speaking with energy correspondents in Abuja, Mr Bobboi said the proposed policy would ensure uniformity in gas product prices across the country.
The policy he said will, “Make the product available because we have a lot of gas in the country. It will make it affordable, which will incentivise the marketers to take it to the last mile. It will also incentivise consumer gas use as the marketer will bring down his price. This will do a lot of good to the economy”.
According to Bobboi, consultations are currently ongoing with the relevant agencies. The passage of the Petroleum Industry Bill (PIB) will approve the functions of the PEF and offer a pathway for the implementation of the proposed policy.