The Federal Government has planned to ensure fuel is sold at the approved pump price of N97 per litre in riverine areas through what it called bridging of supply.
The General Manager of Petroleum Equalisation Fund (PEF), Mr Goddy Nnadi made the disclosure to newsmen recently in Abuja.
According to Nnadi, the agency had already put in place the required machinery that would ensure the smooth take-off of the scheme.
“The scheme will take-off very soon as we finalise the details of the operations with the stakeholders. The scheme which entails the payment of bridging claims (transport) to marketers who convey the product to the coastal area of the Niger Delta is aimed at forcing down the price of the product”, he noted.
The PEF boss said the fund had also put in place measures to determine the cost of transporting the product from the hitherlands to the coastal areas and the mode of payment to the marketers.
He added that PEF was working with Nigeria National Petroleum Corporation (NNPC) to fast-track the operation of its mega stations in the Niger Delta region.
Nnadi reiterated the agency’s determination to alleviate the sufferings of residents of coastal areas and expressed optimism that high cost of fuel in the area would be reduced as soon as the bridging scheme was inaugurated.
Investigation revealed that while a litre of petrol officially sells for N97, it goes for over N300 per litre in the riverine areas of the Niger Delta as a result of logistic challenges.