New bill won’t lead to fuel price increase, says Saraki
http://ift.tt/2p1yML6 He noted that the prevailing rates were too high and discouraging to genuine industrialists and entrepreneurs who need borrowed funds to stay afloat and contribute to the Gross Domestic Product (GDP).PHOTO: fueltek.co.uk • CNPP vows to resist fuel tax, backs Labour, students • Senate plans to debate motion on high interest rates The Senate President, Dr. Bukola Saraki, has stated that the proposed National Road Fund Bill would not lead to any increase in the current pump price of Premium Motor Spirit (PMS), also known as petrol. In a statement issued by his media office in Ilorin at the weekend, Saraki said the report of the committee, which worked on the bill, made different suggestioncriss on how to generate funds for maintenance of the nation’s road network but that there was a consensus on the desirability of the Fund and the need to ensure that the money to be generated from sale of fuel for the fund should be accommodated within the current price regi...