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Mission Statement

To partner with other stakeholders by ensuring equitable and effective distribution of petroleum products at approved price...More

Vision Statement

To become an efficient, technology driven, stakeholder oriented and proactive partner in facilitating the transportation and distribution of petroleum product...More

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Overview
The Petroleum Equalisation Fund (Management) Board is a scheduled parastatal of the Ministry of Petroleum Resources, established by the PEFMB Act to equalise the cost of transporting petroleum products from depots to Marketers sales outlets (filling stations).

This is to ensure that petroleum products are sold at uniform prices throughout the country. The Fund, which derives its main source from the net surplus revenue recovered from Oil Marketing Companies, is utilized for the reimbursement of petroleum products marketing companies for any losses sustained by them solely and exclusively as a result of sale, by them, of petroleum products at uniform prices throughout the country.
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