360 GP has gathered that Nigerians may pay additional 5 Naira on the petroleum price if the current National Roads Fund bill is passed into law.
It is understood that the N5 increase is part of recommendations of a technical committee of the House of Representative that was set up by the House Committee on Works, chaired by Rep Toby Okechukwu (PDP, Enugu).
The establishment of National Road Fund will as serve as a repository of revenues from road user charges and other sources for financing to be managed and administered for routine and maintenance works on 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.”
Some other sources that the committee recommended include, toll fees not exceeding 10% 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% deductible from the fare paid by passengers as well as surcharge of 0.5% chargeable on the assessed value of any imported vehicle into the country.
Meanwhile, sources of funding as recommended by the committee are lease, license or other fees which should be 10% of the revenue accruing from such or other fees pertaining to non-vehicular road usages along any federal road; grants and loans and gifts of land, money or other property.
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