National road fund bill was on Thursday 8th June 2017 withdrawn from the senate.
The National Roads Fund Bill which is to help in the funding, maintenance and administration of road networks in Nigeria, will be funded through nine sources including: fuel levy of N5 chargeable per litre on any volume of petrol and diesel products in Nigeria, toll gates as well as axle load control charges.
According to the report, other sources of revenue for the Road Fund include: International Vehicle Transit Charges, Road Funds Surcharge of 0.5percent taxed on the assessed value of any vehicle imported into the country.
Others are: Inter-State Mass Transit Charge of 0.5percent deductible from the fare paid by passengers to commercial mass transit operators on inter-state roads; lease, license; grants, loans and gifts of land, money or other property.
The bill is one of the 13 high priority economic recovery bills recommended to the National Assembly for passage by the National Assembly Business Environment Roundtable (NASSBER).
Although Gaya told lawmakers that the fuel levy of N5 chargeable per litre had already been captured in the existing template of N145 per litre, chairman Senate Committee on Petroleum Downstream, Kabiru Marafa, faulted the claim, saying this “is not entirely correct”.
Marafa insisted that passing the bill would escalate the problems already faced by Nigerians, a sentiment shared by Senate Leader, Ahmad Lawan; Deputy Minority Leader Goodwill Akpabio and Binta Garba Masi.
