Senate Wants To Increase Petrol Pump Price By N5

fuel price increase in nigeria

The Senate Committee on works has proposed an increase in the pump price of petrol by N5, that is from N145 to N150 Which is approximately 3.448%. The committee made the recommendation in a report on the National Roads Fund NRF (Est. Etc) Bill (SB.218) bill that is currently before the house.

The NRF bill is designed to address the issue of poor funding of roads in the country.
According to the chairman of the committee, Senator Kabiru Gaya , 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". Part of recommendations the committee put forward is a fuel levy of N5 chargeable per litre on any volume of petrol and diesel products imported into the country and locally refined Petroleum products.

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.

Out of the 15 members of the committee, the senators who endorsed the report are  6 out of 15 ad they are namely:
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. 

Senators Olusola Adeyeye, Biodun Olujimi and Ahmad Ogembe who were members of the committee refused to endorse it. The report has been distributed to senators and would be up for deliberation soon.
Read Also:Nigerian Man Sentenced To Two Years Imprisonment Over One Million Naira Car Scam

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THE 1960POST: Senate Wants To Increase Petrol Pump Price By N5
Senate Wants To Increase Petrol Pump Price By N5
fuel price increase in nigeria
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