The Executive Secretary, Petroleum Equalisation Fund (PEF), Mr Ahmed Bobboi, has said that PEF has trained staff members that are ready to deliver service at all times.
At the Downstream and Midstream Roundtable at the ongoing 4th Nigeria International Petroleum Summit (NIPS) in Abuja, Boboye said that the Petroleum Industry Bill (PIB) had recommendation that the organisation should be merged with the Petroleum Products Pricing Regulatory Agency ( PPPRA) as regulator.
“I believe that trying to merge the two organisations as regulator in the PIB is to ensure service delivery.
“Now, we are at the stage of doing proposal, we will wait for the outcome of the PIB and know the next step to take.
“PEF is a government agency, whatever the government say we will do; we are self-funded and we have well trained staff ready to work,” he said
In his remarks, Mr Tunji Oyebanji of the Major Oil Marketers Association of Nigeria (MOMAN) said that the PIB was fundamental for the growth of the downstream oil sector.
He said that the sector did not need a PIB that would bring back old monopoly witnessed in the system.
“We need a PIB that will create a level playing field for all stakeholders, ensure consumer protection, attract investors and help to create jobs.
“If we do not get this kind of framework we will not have environment that will ensure collaboration of stakeholders to handle the uncertainties in post COVID-19 period,” he said.
The theme of the conference is ‘From Crisis to Opportunities: New Approach to the Future of Hydrocarbon’.
