Senate Debates Increase In Petrol Price


The Nigerian Senate appears set to debate a proposed petrol tax that seeks to add an extra N5 in per litre of petrol and diesel purchased at the pumps. The special tax, according to the 'National Roads Bill' sponsored by Kabiru Gaya, aims at ploughing revenues from the special tax into maintenance of roads across the country.

"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," the bill reads.

"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."


Ademola Aderele

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