Economy
?Nigeria Senate Committee Calls For Increase In Petrol Pump Price From N145 To N150
The Senate Committee on Works has recommended an increase in the pump price of petrol from N145 to N150 for the implementation of the proposed National Roads Fund (NRF).
The recommendation came a year after President Muhammadu Buhari raised the pump price of fuel from N87 to N145 per litre. The increase was part of the recommendations made by the Senate Committee on Works, chaired by Senator Kabiru Gaya (APC, Kano) on the National Roads Fund (Est. Etc) Bill (SB.218).The report was scheduled for consideration during plenary yesterday, as it was on the order paper. It was however suspended for another legislative day due to time constraint. The committee recommended fuel levy of N5 chargeable per litre on any volume of petrol and diesel products imported into the country and locally refined Petroleum products. A copy of the report obtained revealed that 12 out of the 15 members of the committee have endorsed it.
Senators who endorsed the report are, Senators Gaya, Clifford Ordia, Barnabas Gemade, Mao Ohuabunwa , Bukar Abba Ibrahim, Ben Bruce, Gilbert Nnaji, Abubakar Kyari, Ibrahim Danbaba, Mustapha Bukar, Sani Mustapha and Buruji Kashamu.
Those whose signatures were not appended on the report are, Senators Olusola Adeyeye, Biodun Olujimi and Ahmad Ogembe. The report has been distributed to senators. Under the sources of revenue for the National roads fund, the committee recommended as follows,
āfuel levy of N5 chargeable per litre on any volume of petrol and diesel products imported into Nigeria and on locally refined petroleum productsā.
The committee also recommended toll fees; a percentage not exceeding 10 percent of any revenue paid as user charge per vehicle on any Federal road designated as toll road. It further recommended international vehicle transit charges, inter-state mass transit user charge of 0.5 percent deductible from the fare paid by passengers to commercial mass transit operators and axle load control charges.
In the report, Gaya explained that the road fund was designed to address the poor funding of roads in the country. He said the fund when established would serve as a repository of revenues from road user related charges and other sources for financing, which shall be managed and administered for routine and periodic maintenance works on roads in the country. An aide of the Senate President on Print Media, Mr. Chuks Okocha said recommendation was still a proposal and that it has not been debated.
Follow us on social media:
āThereās hunger, however thereās huge” hope ā Tinubu Lament
NigerianĀ man who passed away 10 years ago confesses heās currently in Lagos, reveals big secretĀ
Delta court begins hearing on alleged s3x trafficking of 15-year-old girl by mother
FG confirms arrest of Simon Ekpa by Finnish authorities
āSimon Ekpa is not our member” ā IPOB stated
āThey donāt look so happyā ā Reactions trail video of Chioma and Hailey at Davidoās concert
Diddy claims prosecutors showed judge edited Cassie video to make him look dangerous
āGod is still in the business of doing wonders, please keep trusting Godā ā Emotional moment gospel singer Yinka Alaseyori serenades actress Dayo Amusa who gave birth to her first child at 41 years (Video)
-
Biafra1 day agoāSimon Ekpa is not our member” ā IPOB stated
-
Celebrity Gossip & Gist1 day agoāThey donāt look so happyā ā Reactions trail video of Chioma and Hailey at Davidoās concert
-
Celebrity Gossip & Gist1 day agoDiddy claims prosecutors showed judge edited Cassie video to make him look dangerous
-
Celebrity Gossip & Gist1 day agoāGod is still in the business of doing wonders, please keep trusting Godā ā Emotional moment gospel singer Yinka Alaseyori serenades actress Dayo Amusa who gave birth to her first child at 41 years (Video)