Loading...

Author Topic: Nigerian Senate denies plan to hike fuel price  (Read 657 times)

0 Members and 1 Guest are viewing this topic.

Offline internet police

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 1482
    • View Profile
Nigerian Senate denies plan to hike fuel price
« on: June 05, 2017, 12:43:04 AM »


President of the Senate, Bukola Saraki, has denied that the upper chamber of the National Assembly is proposing an increment in the pump price of Premium Motor Spirit (petrol) by N5 as part of measures to generate funds for road repairs and maintenance.



The Special Assistant to the Senate President on New Media, Mr. Bankole Omisore, in a statement on Saturday, denied the report that the legislature such a plan.

As part of the recommendations in the report by the Senate Committee on Works on the National Roads Fund Establishment Bill 2017, a levy of N5 will be imposed on every litre of PMS and Automobile General Oil (diesel) imported or refined in the country.

Omisore, however, explained that at the public hearing on the National Roads Fund Bill, the stakeholders were unanimous on the need to access a percentage of the funds for sustainable maintenance of roads from the pricing template of petroleum products.

He said while the unanimity was on a percentage, opinions varied as to what percentage. “Some argued for 25, 11, 7 and 5 per cent of the value of the price of the product,” he noted.



 

Nigerian FG to probe oil sector on Missing $49bn after Arms deal probe

Started by newspostng

Replies: 0
Views: 274
Last post January 15, 2016, 10:25:12 AM
by newspostng
Nigerian Aviation santions Acon, Jushad, Lubcon, Ascon, Star Orient

Started by admin

Replies: 0
Views: 163
Last post November 26, 2015, 11:20:57 AM
by admin
Nigerian Petroleum Resources dept begins 24hour surveillance on filling stations

Started by yungcrux

Replies: 0
Views: 224
Last post December 25, 2015, 11:31:22 AM
by yungcrux
Nigerian NNPC to begin transparency operations to regain lost credibility

Started by yungcrux

Replies: 0
Views: 384
Last post September 26, 2015, 03:14:47 AM
by yungcrux
Nigerian NNPC begins monthly publication of financial and operational report

Started by legendguru

Replies: 0
Views: 193
Last post October 12, 2015, 11:12:01 AM
by legendguru
Nigerian VP Osinbajo jet out to London to sign Nigeria/UK solar energy agreement

Started by legendguru

Replies: 0
Views: 244
Last post October 23, 2015, 02:41:03 AM
by legendguru
Nigerian Navy destroys more illegal refineries, arrest MV Star Shrimper

Started by internet police

Replies: 0
Views: 446
Last post August 17, 2016, 07:45:04 AM
by internet police
Nigerian Police secure release of 14 oil workers kidnapped in Rivers state

Started by mastercode

Replies: 0
Views: 231
Last post September 19, 2016, 03:45:09 AM
by mastercode
Nigerian Electricity Distribution Company Reveals reasons for power outage

Started by newspostng

Replies: 0
Views: 212
Last post September 15, 2017, 12:26:08 AM
by newspostng
Nigerian NNPC cancels crude oil delivery contracts to refineries

Started by admin

Replies: 0
Views: 370
Last post August 27, 2015, 09:12:32 AM
by admin