-By Bashir Bello
The management of the Petroleum Equalisation Fund, PEF has unveiled plans to venture into the gas sector with a view to equalising the transportation and distribution costs of Liquefied Petroleum Gas also known as cooking gas for the benefit of Nigerians.
The planned equalization is to ensure that the commodity is accessible to all parts of the country at an affordable rate as well as to help mitigate the adverse effects of desertification.
Valuechain reports that the Executive Secretary of PEF, Ahmed Bobboi unveiled the plan of his organisation in a media chat on Monday in Abuja.
He revealed that while arrangements have been made to start subsidizing cooking gas, noted that PEF is waiting for approval by the Federal Government and also to see extra mandate that PEF would be saddled with it in that regard.
The Executive Secretary however, said that the Petroleum Industry Bill (PIB) currently with the National Assembly, would have to be assented to before the subsidy scheme for cooking gas starts.
“We are trying to introduce the bridging scheme to gas because the government has declared this year till 2030 as a decade of gas.”
Bobboi further added that the subsidy would not be a burden on the Federal Government as it would be borne by the consumers and cushioned by PEF.