The Senate Committee on Works is proposing a fresh increase in the pump price of petrol.

The committee is proposing for enactment a law captioned “The National Road Fund Establishment Bill”, which is part of the 11 economic reform bills initiated by the Senate, has already been endorsed by the House of Representatives.

The import of the proposed fuel levy charge is that end-users, including motorists, will pay N5 tax on every litre of fuel bought at any fuel station. This will worsen the hardship most Nigerians currently face.

Among the nine sources for generating revenue for the planned National Roads Fund, according to the bill, are “fuel levy of five naira (N5) chargeable per litre on any volume of petrol and diesel products imported into Nigeria and on locally refined petroleum products, as well as axle load control charges.”

 Others are: “Toll fees (a percentage not exceeding 10% of any revenue paid as user charge per vehicle on any federal road designated as a toll road, this is not applicable to PPP roads); international vehicle transit charges; and inter-state mass transit user charge of 0.5% deductible from the fare paid by passengers to commercial mass transit operators on inter-state roads.”

The bill also recommends “roads fund surcharge of 0.5% chargeable on the assessed value of any vehicle imported at any time into Nigeria; lease, licence or other fees which shall be 10% of the revenue accruing from lease or licence or other fees pertaining to non-vehicular road usages along any federal road and collected by the federal roads agency.” Also on the list are grants and loans, and gifts of land, money or other property.

The bill further states that the National Roads Fund would be established with a high level of independence under the jurisdiction of the Federal Ministry of Finance which will only oversee the fund for policy direction. In its report to the Senate, the Kabiru Gaya-led Committee on Works, which processed the bill, said: “The National Roads Fund shall set aside an amount not exceeding 3% of the total monies accruing to it in the preceding year as Administrative Fund.

“The use of National Roads Fund is restricted to routine and periodic maintenance work on roads and the administration of the road network, which includes research and development.“Road agencies that will receive disbursements from the National Roads Fund must be established by law as independent agencies with dedicated accounts.

“The National Roads Fund will be excluded from The Consolidated Revenue Fund and Treasury Single Account.”The 11 economic recovery bills from where the National Road Fund Bill originated was initiated by the National Assembly leadership to help take the country out of recession.

https://m.thenigerianvoice.com/news/251957/senate-wants-n5-increment-on-pump-price-of-petrol.html

CC: lalasticlala, Mydn44, Dominique

And all their salaries and entitlements remains intact......chaiii where is thunder abeg?

The govt has been looking for a way to increase fuel price since last year... Dis one na jus grammar and deflection of blame...

God go punish all our politicians soon,jex watch

On one condition! If they (senators) can decrease their salaries to 10k