By IBRAHIM MUSA GIGINYU

Northern independent petroleum marketer’s forum has resolved to withdraw its services if authorities concerned fail to take drastic steps on some pressing issue the forum raised about what it termed prevailing adverse operations of Petroleum Equalization Fund (PEF) management.

This was contained in a communiqué issued at the end of the forum’s inaugural meeting held in Kano at the weekend.

According to the communiqué the forum would not seat by and allow PEF become a caricature of itself, as it is fast becoming the bane to the development of the downstream sector.

The communiqué jointly signed by Alhaji Auwalu Rimi and Alhaji Audu Manager, outlined the prevailing adverse operations of PEF to include persistent: Illegal and unexplained deductions in their claims without queries.

The marketers stated that despite PEF issuing acknowledgement to confirm the veracity, the system was characterized by acute delay in making payments that often span an average of 6 months, causing avoidable financial embarrassment to their members.

Many members that have become victims of the PEF shortcomings have failed to benefits from the multi-million naira Aquilla II technology which is aimed at easing their business.

The forum called for immediate payment of all outstanding claims, overhaul of Aquilla II processes to ensure payment of claims no longer than 48 hours as it was originally designed. It also resolved for a strict compliance with the enabling law of PEF Management Board Act No. 9 of 1975 among others. (Daily Trust)

Update news