Loading and distribution of petroleum products may suffer hitches in the days to come as the Petroleum Equalization Fund (Management) Board (PEFMB) will today withdraw its staff from outlets belonging to members of the Depot and Petroleum Products Marketers Association (DAPPMA) that are indebted to it.

The decision to embark on the exercise was reached after an expanded management meeting on Monday chaired by the Executive Secretary of the fund, Ahmed Bobboi. PEFMB said it has resorted to the action to compel the depot owners to defray debts running into billions owed to the fund.

About 84 oil marketing companies make up DAPPMA whose members own 80 per cent of the country’s functional product receptive facilities and are expected to make some statutory payments to the PEFMB. The PEFMB in turn pays marketers transport allowance from the funds collected.

Source: Daily Trust