Petroleum Equalisation Fund (PEF) (mgt. Board)

The Petroleum Equalisation Fund (PEF) is a Nigerian Government-owned and managed Board that was established in 1978 to ensure equitable distribution of petroleum products across the country. PEF was established to ensure that all Nigerians, regardless of their geographical location, have access to petroleum products at the same price. The Board is empowered to collect and distribute funds to petroleum marketers in order to cover the cost of transporting petroleum products from the refineries to the end-users. In addition, PEF also provides financial assistance to petroleum marketers to enable them to purchase petroleum products from the refineries. PEF's mission is to ensure that all Nigerians have access to petroleum products at the same price, regardless of their geographical location. This is achieved by providing financial assistance to petroleum marketers to enable them to purchase petroleum products from the refineries and by collecting and distributing funds to cover the Show more cost of transporting petroleum products from the refineries to the end-users. As such, PEF is helping to improve the quality of life for all Nigerians by providing access to petroleum products at a fair and equitable price.