FEC

…As Northern Nigeria  got 14 roads 

The Nigerian National Petroleum Corporation (NNPC) was given the green light by the Federal Executive Council (FEC) on Wednesday to take over the reconstruction of 21 federal roads across the country.

Also Read: Tears As Vigilante Member Shot Dead by UGM in Imo community

This was revealed following the FEC’s weekly virtual meeting at the Presidential Villa in Abuja, which was presided over by Vice President Yemi Osinbajo.

The Minister of Works and Housing, Babatunde Fashola, briefed State House Correspondents at the end of the council meeting on the selected 21 roads, which total 1804.6 kilometres.

Also Read: FIFA Bans Another Nigerian coach for two years

This, he claims, is by President Muhammadu Buhari’s Executive Order No. 007 of 2019, dubbed the Companies Income Tax (Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme) Order, 2019 (“EO7 of 2019” or “the Scheme”).

The Dangote Group was the first to use the 2019 EO7 to exempt the Obajana-Kabba road from income tax.

Also Read: Shock As BBNaija’s Cross Posts his full Nūde video on Snapchat (18+ photo)

According to The Nation Newspaper, the National Union of Petroleum and Natural Gas Workers (NUPENG) has postponed a planned nationwide strike for October 11th to allow for further negotiations after the NNPC warned that the strike would disrupt fuel supplies.

The strike was called by NUPENG to protest the poor state of the country’s roads, which it claims puts drivers’ lives in danger.

It was a strategic intervention, according to the Minister, under the Federal Government’s Road Infrastructure and Refreshment Tax Credit Scheme.

According to Fashola, Executive Order 7 allows the private sector to pre-deploy the taxes that will be paid for infrastructure development.

Nine (9)  of the projects chosen are in the North Central region, three (3) in the North East, two (2 ) in the North West, two (2) in the South East, three (3) in the South-South, and two (2) in the South West, according to him.

Credit: The Nation Newspaper

.
Previous articleTears As Vigilante Member Shot Dead by UGM in Imo community
Next articleAbba Sayyadi Ruma, Former Nigerian Minister Dies At 59

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.