The Independent Petroleum Marketers Association of Nigeria (IPMAN) has rejected the proposed scrapping of the Petroleum Equalisation Fund (PEF), asserting that it fosters national unity.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has appealed to the federal government not to yield to calls to scrap the Petroleum Equalisation Fund (PEF).

IPMAN made the appeal via a statement issued on Tuesday in Abuja by its spokesman, Yakubu Suleiman.

He said that the calls were made by impostors and not members of the association.

“They are impostors who do not belong to the association, neither do they own any filling station and by implication, don’t even know the usefulness of PEF.

“Our stand has always been that PEF is the nucleus of the downstream sector; it not only functions as an equaliser to disparities in fuel prices across Nigeria,” Mr. Suleiman said.

He said that such agitation was nothing more than a looming crisis in the sector which would in the short and long-run harm the nation and its stability, adding that it would hinder the economic advancement of Nigeria.

Suleiman expressed optimism that the federal government, through the supervising Ministry of Petroleum Resources, would not heed to the agitation to scrap the PEF.