The Petroleum Equalisation Fund (management) Board (PEF) says it has set up a task force for the immediate implementation of transportation of petroleum products through the country’s railway system.
Speaking in Abuja, the General Manager, Corporate Services of PEF, Dr. Goddy Nnadi explained that the task force was set up by the Executive Secretary of the Fund, Alhaji Ahmed Bobboi for the implementation of the new equalisation model. He added that rail transportation of petroleum products was inevitable due to it’s the potentials in jobs creation and reduction of accidents on the roads. He said it would also generate more revenue for the Federal Government since it would cost less to move products around the country.
He added that plans are also underway to commence the equalization of cooking gas (LPG), by rail as a step in the efforts of the Federal Government to make the product available in rural areas at the cheapest cost. Nnadi said that a high level committee made up of members from the offices of the Vice President, Minister of State for Petroleum Resources, Minister of Environment, DPR, PPPRA, Nigeria Gas Association, PEF among other agencies is already working out the logistics for the implementation of the project.