FEC Gives NNPC Approval To Fix 21 Federal Roads At N621.2bn

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By; SUNDAY ODE, Abuja


The Federal Executive Council (FEC) meeting has given approval  for the Nigerian National Petroleum Corporation (NNPC), to take over the reconstruction of 21 federal roads across the six geopolitical zones of the country.
This is in line with Executive Order No. 007 of 2019 cited as the Companies Income Tax (Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme) Order, 2019 (“EO7 of 2019” or “the Scheme”), signed by President Muhammadu Buhari.
Dangote Group was the first to take advantage of the EO7 of 2019 to fix the Obajana-Kabba road from it’s income tax.
The National Union of Petroleum and Natural Gas Workers (NUPENG), it could be recalled, had suspended it’s earlier plannd nationwide strike that was to commence on October 11th to allow for  negotiation, after the NNPC warned that the strike could disrupt fuel supplies.
NUPENG had called the strike to protest against the poor state of roads in the country, saying the development endangers the lives of drivers.
Briefing State House Correspondents at the end of the council meeting, the Minister of Works and Housing, Babatunde Fashola, said the selected 21 roads gives a total of 1804.6 kilometers.
The Minister said it was a strategic intervention under the Federal Government Road Infrastructure and Refreshment Tax Credit Scheme.
Fashola further explained that  Executive Order 7 allows the private sector to deploy in advance the taxes they would pay for infrastructure development.
He said nine of the selected projects are in North Central, three in North East, two in North West, two in South East, three in South-South, and two in South West.

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