Breaking: FEC Approves NNPC To Fix 21 federal roads at N621.2bn (See Locations)

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FEC

…As Northern Nigeria  got 14 roads 

The Nigerian National Petroleum Corporation () 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.

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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.

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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.

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

The strike was called by 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 ’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

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