Bill Seeking N5 Fuel Increase Stepped Down In Senate
In what appeared to be an attempt to make the masses bear the cost of governance; the Senate has retracted its steps and swallowed its own pills.
The Senate Committee on Works had last week recommended multiple taxes, including a N5 levy on every litre of Premium Motor Spirit (petrol) and Automobile General Oil (diesel) imported or refined in the country.
The recommendation generated public outcry.
This caused the Senate to step down consideration of the report on the National Roads Fund Establishment Bill. The red chair lawmakers have asked its Committee on Works to make “further consultations”.
Several lawmakers, who spoke on the recommendations, particularly the N5 levy on petroleum products, expressed their reservations.
A litre presently costs N145 per litre and the addition would have propped it up to N150.