NNPC’s N621bn Tax Credit Scheme: Contractors Begin Work On Zaria-Funtua, Ibadan-Ilorin, Other Road Projects

The Federal Government has commenced the rehabilitation of various road projects being financed by the Nigerian National Petroluem Company Ltd under the tax credit scheme.

Recall, the Corporation had in October last year expressed interest to invest in the reconstruction of selected federal roads in order to sustain a smooth supply and distribution of petroleum products across the country.

The road construction project which is being executed under the tax credit scheme is funded by the NNPC through the Federal Inland Revenue Service in accordance with President Muhammadu Buhari’s executive order 7.

Under the programme, the NNPC will construct a total of 1,804.6 kilometres of roads at a total cost of N621,237,143,897.35.

To fast-track the execution of the project, the NNPC had on December 21 last year presented the symbolic cheque of N621bn to the ministry of works and housing for the construction of 21 selected roads across the country.

A breakdown of the project funding showed that the North-Central geo-political zone got the highest chunk of N244.87bn for the construction of 791.1 kilometres of roads.

The North-Central is made up Benue, Federal Capital Territory, Kogi, Kwara, Nasarawa, Niger, and Plateau State.

The South-South geo-political zone emerged the second highest beneficiary of the NNPC Road Infrastructure Development and Refurbishment project with the sum of N172.02bn for a total of 81.9 kilometres of road.

The zone is made up of Akwa-Ibom, Bayelsa, Cross-River, Delta, Edo, and Rivers state.

The South-West followed with a total allocation of N81.87bn for the construction of 252.7 kilometres of roads.

The region is made up of Ekiti, Lagos, Osun, Ondo, Ogun, and Oyo State.

Similarly, the NNPC allocated the sum of N56.12bn to the North-East for the construction of 273.35 kilometres of roads under the scheme.

The states expected to be covered under this zones are Adamawa, Bauchi, Borno, Gombe, Taraba, and Yobe.

For the South-East geo-political zone, the sum of N43.28bn was earmarked for the construction/rehabilitation of 122 kilometres of road.

The zone is made up of five states and they are Abia, Anambra, Ebonyi, Enugu,and Imo.

Further breakdown of the NNPC schedule showed that the North-West geo-political zone which is made up of Kaduna, Katsina, Kano, Kebbi, Sokoto, Jigawa, and Zamfara got the least allocation.

The zone was allocated the sum of N23.05bn for the rehabilitation of 283.5 kilometres of road.

In a video made available to THE WHISTLER on Monday, dualisation work has commenced on the

Ibadan -Ilorin Section II, Oyo -Ogbomosho Section road project.