A Senate panel Thursday recommended a five-naira tax on any litre of petroleum products purchased by Nigerians to fund the proposed National Roads Fund.
The tax, which is contained in a bill entitled “National Roads Bill”, will compel motorists to pay N5 on each litre of petrol and diesel purchased. By implication, the bill will affect all users of petrol and diesel, including industries.
Kabiru Gaya, Chairman, Senate Committee on Works, said the tax would be part of sources of revenues for the proposed National Roads Fund.
The Senate is expected in the weeks begin the clause-by-clause consideration of the report presented by the Senate Committee on Works.
The bill reads in part: “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 percent 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.”
By Business a.m. live staff
Frontpage November 26, 2019