A Fresh increase in the pump price of petrol is among the contents of a bill that has been approved by the Senate Committee on Works. It was presented yesterday for enactment by the upper chamber, The Guardian reports.
The proposed 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.”