On Wednesday, August 11, the Federal Executive Council (FEC) approved the Federal Roads and Bridges Tolling Policy and Regulations.
Presidential aide Tolu Ogunlesi said in a statement the minister of works and housing, Babatunde Fashola, announced the approval after the FEC meeting.
Recommended tolling fees
- Cars: N200
- SUVs: N300
- Private Buses: N300
- Commercial Buses: N150
- Luxury Buses and Trucks: N500
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Fashola explained that a Willingness-To-Pay Survey was carried out to arrive at the recommended pricing framework.
He added that the fees at existing tolled roads (Lagos and Abuja Airport Toll Plazas, and the Lekki and Ikoyi Toll Plazas) were also taken into consideration.
The minister further explained that an open trolling system was adopted in the new policy.
The open tolling system, just like the one that used to be in existence in the country means vehicle owners pay a fixed/flat rate that is not dependent on distance travelled.
Nevertheless, the minister clarified that the policy will not take effect “until the roads are motorable.”
Fashola proposes 3-month rent collection by landlords
In other news, Fashola has suggested the collection of three-month rent by landlords and property owners as against the collection of three years rent.
The minister explained that collecting three years rent made housing unaffordable for Nigerians, especially those in urban centres.
Fashola said this on Thursday, July 15, at the weekly State House Briefing in Aso Villa, Abuja. Nigeria does not have 17 million housing deficit.
Presidency approves N200 bn for national housing project
Earlier, Legit.ng reported that the presidency revealed its plan to fund a National Social Housing Programme (NSHP) to benefit not less than 1.5 million Nigerians.
In a statement made available to Legit.ng, the presidency said the federal government with the support of the ministry of finance, the federal government has finalised plans with the Central Bank of Nigeria to fund the massive project.
Speaking further on the project, Laolu Akande, the senior special assistant to the president on media and publicity in the office of Vice President Yemi Osinbajo, noted that the aim was to enable citizens to acquire low-cost houses through mortgage and also rent to own options.