Senate Set to Increase Fuel Price

The senate will next week consider a bill to make Nigerians pay more for fuel..

According to TheCable.ng, the bill recommends that Nigerians pay a N5 levy on each litre of petroleum product imported into the country.

The proposed law, which was titled ‘
National Roads Bill’, was presented by Kabiru Gaya, chairman, senate committee on works.

The N5 levy on each litre of petrol or diesel will be part of revenue sources for a proposed national roads fund.

The bill reads;

‎”There shall be a road fund charge of 0.5 per cent on the assessed value of any vehicle imported at any time into Nigeria. 

“There shall be lease, license or other fees which shall be 10 per cent of the revenue accruing from lease or license or other fees pertaining to non-vehicular road usage along any federal road and collected by the Federal Roads Maintenance Agency‎,”  

“Fuel levy of N5 chargeable per litre on ‎any volume of petrol and diesel products imported ‎into Nigeria and on non-locally refined petroleum produc‎ts. International vehicle transit charges.”

If the bill is passed and signed into law, all users of petrol and diesel, including industries will pay more for fuel.