Senate Proposes Increase From N145 To N150

The Senate Committee on Works has recommended an increase in the pump price of fuel from N145 to N150 for the implementation of the proposed National Roads Fund (NRF).

Also See: I’ll Resign If Nigeria Still Imports Fuel By 2019 – Ibe Kachikwu

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.

power Fuel price increase

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 however been distributed to senators.

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.

Also See: Teachers’ Retirement Age To Be Increased To 65 Years – Dogara

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.

The fuel increase recommendation comes a year after President Muhammadu Buhari raised the pump price of fuel from N87 to N145 per litre.

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has disagreed with the proposed increase in the pump price of fuel in the country, stating that any increase in the price of petroleum products would have a negative impact on the economy.

Also See: Minimum Wage To Be Reviewed Every 5 Years – NASS

The General Secretary of the Union, Joseph Ogbebor, said:

“Last year, we were at the National Assembly to see how the petrol price could be reduced. We even told them to ensure that the price of petrol remained at N145 per litre.

“We also called for a unified tax system to help reduce the price of petrol. There are several taxes to different agencies, a fact which has led to the increase in the price of petrol.”

You might also like

Comments