Reps to increase fuel price by N5 for roads maintenance

If the House of Representatives signs the current National Roads Fund bill into law, Nigerians may pay additional N5 for petroleum products.

A technical committee set up by the House Committee on Works, chaired by Toby Okechukwu had made the recommendation.

The National Road Fund is aimed at generating revenue for routine and periodic maintenance works on Nigerian roads.

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

It also recommended toll fees not exceeding 10 percent of any revenue paid as user charge per vehicle on any federal road designated as a toll road; international vehicle transit charges; inter-state mass transit user charge of 0.5 percent deductible from the fare paid by passengers as well as surcharge of 0.5 percent chargeable on the assessed value of any imported vehicle into the country.

The fund is to be managed by a governing board with a managing director as the head of the fund.

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