Senate Withdraws N5 Fuel Levy Bill

Senate Withdraws N5 Fuel Levy Bill

After serious opposition from members, the controversial National Road Fund Bill has been withdrawn from the Senate, The Guardian reports.

In sourcing for revenue for the proposed national road fund, the Senate committee on works, led by Senator Kabiru Gaya, had last week, in a report, recommended a levy of N5 chargeable per litre on any volume of petrol and diesel products imported into Nigeria and on non-locally refined petroleum products, among others.

But when the Bill was presented to the Senate for consideration on Thursday, many Senators condemned the proposed levy, urging the Senate to immediately throw away the idea because of its harsh economic implications. Deputy Senate President, Ike Ekweremadu, Senate Leader, Ahmad Lawan, Minority Leader, Godswill Akpabio and Kabiru Marafa, led the offensive against the withdrawal of the bill.

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