Announcement

Collapse
No announcement yet.

Proposed National Road Fund Bill Will Not Cause Fuel Price Hike - Senate President

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Proposed National Road Fund Bill Will Not Cause Fuel Price Hike - Senate President

    Proposed National Road Fund Bill Will Not Cause Fuel Price Hike - Senate President

    The Senate President, Dr. Abubakar Bukola Saraki, has said the proposed National Road Fund Bill will not cause a hike in the current price of fuel, the Daily Trust reports.

    The Senate President made this known while speaking with journalists in Ilorin, the Kwara state capital on Saturday after the breaking of fast.

    He said the report of the Senate Committee which worked on the National Road Funds Bill came from deliberations at a public hearing in which stakeholders agreed that the money to be generated from sale of fuel for the fund should be accommodated within the current price regime, the news site wrote.

    “Anybody who reads the full report would have known that after the public hearing which involved stakeholders from the road and transport industry, it was recommended that N5 from each litre of petrol should be channeled towards our roads. However, this is not going to be additional N5, but N5 out of the present price of N145,” the Senate President said, adding, “It is believed that the existing charges in the present price regime would be reduced to accommodate the five naira Road Fund bill.”

    Saraki also said the Senate would this week discuss a motion on the interest rates charged by commercial banks on loans to customers.He said the prevailing rates were too high and discouraging to genuine industrialists and entrepreneurs.
Working...
X