Minister of State for Petroleum Resources, Chief Timipre Sylva, on Tuesday waded into the conflict in the roles of the Department of Petroleum Resources, DPR, and the Petroleum Equalization Fund, PEF, concerning tracking of petroleum products from source to destination.
According to a statement in Abuja by the Ministry of Petroleum Resources, Sylva had called a meeting with both the DPR and the PEF to enable him understand and properly straighten things out between the two agencies of the ministry.
The statement was signed by the Head, Press Unit, of the Ministry of Petroleum Resources, Mr. Olujimi Oyetomi.
Oyetomi said, “The Permanent Secretary of the Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan, who was at the meeting, tried to let the Honourable Minister know that PEF pays equalization, hence it tracks petroleum products loaded by trucks from depot to fuel stations so as to know the equalization it has to pay.
“Even with the Permanent Secretary’s explanation, the Honourable Minister, Chief Timipre Sylva, directed that efforts had to be made by PEF to curtail profiteering from equalization payment when a truck loads petroleum products and offloads first at a fuel station and could reload same product then diverts the same to another destination, thus getting equalization paid twice by PEF.
“Sylva directs more enforcement to get things right between DPR and PEF not just in terms of sorting the mandates of the two agencies of Government regarding tracking but urged that, ‘We need to work closely for this industry to move forward. Let’s try and work together and ensure we deliver value to our people.”
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