The Federal Government is considering extending the equalisation scheme that is operational in the petrol supply system to Liquefied Petroleum Gas (LPG) or cooking gas.
The Executive Secretary, Petroleum Equalisation Fund (PEF) Management Board, Ahmed Bobboi, said this on Sunday in Abuja at an interactive session with journalist.
According to him, the effect of inflation on gas prices will be addressed when the policy in completed and functional.
Bobboi stated that the delayed passage of the Petroleum Industry Bill (PIB) was stalling the equalisation scheme which will clearly spell out the new functions of the PEF.
He said, “If it’s working well for petrol and the government wants to promote the use of gas, if we can take the practice to gas, we believe that it will add value to the economy in so many ways in the value chain.”
“We are also looking at the possibility of petroleum marketers transporting their products by rail because the government is providing rail lines across the country.
“It will save cost and reduce pressure on the roads because most state governments are complaining that heavy duty vehicles have destroyed the roads and I think it will reduce the cost of road maintenance for the government.”
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