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NARTO worried over debts as FG scraps PEF, PPPRA

NARTO worried over debts as FG scraps PEF, PPPRA - Photo/Image

 

 

 

 

 

The Nigerian Association of Road Transport Owners (NARTO) has raised concerns over the fate of its liabilities with the scrapped Petroleum Equalization Fund (PEF) and the Petroleum Products Pricing Regulatory Agency (PPPRA).

Speaking with The Nation in a telephone interview, the National President, Alhaji Yusuf Othman, said the members of the association were in the dark concerning their relationship with the defunct entities.

According to him, the Federal Government was yet to inform the association what would become of the liabilities.

He insisted that NARTO should know its fate so that it could inform the members on how to plan.

He urged the government to be proactive and invite the association for a meeting on the agenda instead of waiting for a threat.

The NARTO boss expressed support for the enactment of the Petroleum Industry Act (PIA) and the newly appointed Nigerian Midstream and Downstream Regulatory Agency, Chief Executive Officer, Engr. Farouk Ahmed and that of the Upstream Regulatory Commission, Engr. Gbenga Komolafe.

He said: “First of all we congratulate the government on the passage of the PIA. We also congratulate the new agencies. “However, we want to know our fate as regards our liabilities with the PPPRA and PEF as regards also going forward.

“We want to know our fate. We are not averse to the government. We are not against it but we are in the dark.”

Urging the government to brief NARTO, Othman said “Now that the government said it has scrapped the DPR, PPPRA and PEF, we need to be briefed officially what is the status of our operations now.

“What is the status of our outstanding money with PEF and what is the fate of our current operation?”

According to him, NARTO is a critical stakeholder that hauls petroleum products across the country.

He noted that it operates on credit, which resulted in the outstanding debt that the scrapped agencies owe members of the association.

The National President said: “Now that they have scrapped PEF what is the fate of our cooperation and our outstanding money that we have to be informed going forward so that we can tell our members and plan ahead.

“You don’t just scrap it (PEF) and keep quiet. Let’s be informed about our fate and the liabilities of the PEF because we are part of the liability.

“We want to know what it is because we are critical stakeholders as far as DPR, PEF and PPPRA are concerned. It is not just scrapping them, when you scrap them what happens to the operation that these organs do? “Are they going to be absolved by the new entities of they are not what happens to us? We need to know. Government needs to be proactive.

“It is not that it is until we want to threaten the government. They need to be proactive. The new entities that have come in need to invite us.”

(The Nation)
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