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    Thursday, June 01, 2017

    Senate Recommends Increase In Prices Of Petrol And Diesel

    More Hard Times Await Nigerians As Senate Recommends Increase In Fuel Prices

    Abuja – In spite of the biting hardship Nigerians are going through, more miseries are set to be inflicted on them through impending fuel price increase.


    The proposed increase of N5 per litre on Premium Motor Spirit (PMS) otherwise called petrol and as well as on diesel, was made by the Senate Committee on Works in its final report on a Bill titled “The National Road Fund (Est, etc) Bill, 2017 (SB 21)”.

    The import of the proposed fuel levy charge is that, end users (motorists) will pay N5 tax on every litre of fuel bought at any fuel station.

    The Senate Committee on Works under the leadership of Senator Kabiru Gaya in the report, also advocated for the implementation of a special 0.5 percent levy on commercial vehicles passengers fares, all in a bid to raise money to pay for road constructions and maintenance.

    The Bill which is part of the 11 economic reform Bills initiated by the Senator Bukola Saraki led leadership of the Senate, as contribution to economic recovery by the country, has already been endorsed by the House of Representatives.

    Details later…


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    Item Reviewed: Senate Recommends Increase In Prices Of Petrol And Diesel Rating: 5 Reviewed By: Olaniyan Tosin
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