by Godwin Akanfe
The Petroleum Equalisation Fund (PEF) has started the electronic loading of trucks in the petroleum downstream sector.
Goddy Nnadi, the General Manager, Corporate Services PEF, said the scheme – ‘Project Aquila’ – was designed to ensure the effective loading and delivery of petroleum products across the nation. He added that it also allowed for the electronic payment of claims to the marketers which was hitherto done manually.
He said that following the December 2012 deadline set by the board for all marketers to key into the scheme, it had stopped the processing of claims manually.
“It will now be very difficult for any marketer to get paid for the bridging claim if not registered with Project Aquila,” he said.
He said that PEF would continue to process the backlog of manual claims for last year and that they would be cleared by March. He said that so far, over 22,000 trucks had been tagged across the major depots, adding that the board would continue with the tagging process, especially for marketers with new trucks.
He said that the management of the board was on tour of the South West zone to monitor the compliance level across the depots; adding that the sanction for marketers who failed to register their trucks under the scheme was that their bridging claims would not be reimbursed.