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Nigerians may pay N5/litre of petrol extra for road repairs

Posted: 31 January, 2017 at 09:20 am
Nigerians may pay N5/litre of petrol extra for road repairs
Nigerians May Pay N5/litre Of Petrol Extra For Road Repairs Photo 1

Nigerians may be expected to pay additional N5 per litre of petrol for road maintenance, if the National Roads Fund Bill before the House of Representatives is passed into law.

A technical committee set up by the Toby Okechukwu-led House Committee on Works recommended a N5 per litre increase in its report.

The Federal Government is targeting N100 billion per annum for the fund through the additional fuel price.

Last November, the technical committee, headed by Chris Okoye, was mandated to submit a report, which would be reviewed and submitted to the House for consideration.

The committee recommended a “…fuel levy of N5 chargeable per litre on any volume of petrol and diesel products imported into Nigeria and on locally refined petroleum products”.

The National Road Fund, which shall apply to the funding, maintenance and administration of the road network in Nigeria, when established, will serve as a repository of revenues from road user-related charges and other sources for financing to be managed and administered for routine and periodic maintenance works on Nigerian roads.

The committee said other sources of funds include: toll fees, not exceeding 10 per cent of any revenue paid as user charge per vehicle on any federal road designated as a toll road; international vehicle transit charges as well as inter-state mass transit user charge of 0.5 per cent deductible from the fare paid by passengers as well as surcharge of 0.5 per cent chargeable on the assessed value of any imported vehicle into the country.

The report, which was signed by 15 of the 23-member committee, will be debated and reviewed by the Okechukwu-headed House Committee on Works, and passed to the House on the whole for consideration.

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