NNPC Get FG Aproval to Construct 44 Roads Under Tax Credit Scheme

The federal executive council (FEC) has approved the recommendation for the Nigerian National Petroleum Company (NNPC) Limited to invest N1.9 trillion in the reconstruction of 44 federal roads under the tax credit policy.

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The federal executive council (FEC) has approved the recommendation for the Nigerian National Petroleum Company (NNPC) Limited to invest N1.9 trillion in the reconstruction of 44 federal roads under the tax credit policy.

The council gave the approval on Wednesday at a meeting presided over by Vice-President Yemi Osinbajo in Abuja.

Laolu Akande, Osinbajo’s spokesperson, briefed journalists on behalf of Babatunde Fashola, the minister of works and housing

“The federal executive council approved the recommendation to invest in the reconstruction of selected federal roads under the federal government road infrastructure development and refurbishment investment tax credit policy phase two by the Nigerian National Petroleum Corporation (NNPC) Limited and its subsidiaries,” he said.

Akande said following the issuance of requisite full business case (FBC) compliance certificates by the Infrastructure Concession Regulatory Commission (ICRCN), FEC also approved a 25-year concessions for nine road corridors under the pilot phase of the highway development and management initiative.

“The roads that will be under this first phase are the Benin-Asaba corridor, Abuja-Lokoja-Onitsha-Owerri-Aba-Shagamu-to Benin, Abuja-Keffi-Akwanga-Lafia-Makurdi, Kano-Maiduguri, Enugu-Port Harcourt, Lagos-Ota-Abeokuta, and Lagos-Badagry-Seme,” he said. 

The spokesperson said the works and housing ministry also got the council’s approval for the augmentation of contract for the rehabilitation of the Oshogbo-Ilesha road, phase one, in Ilesha-Oshogbo, Osun state.

The contract, Akande said, was awarded to Messers Orizon construction company in the sum of N1.2 billion.

Consequently, the subsisting contract sum was revised from N3 billion to N4 billion, representing an increase of 33 percent from the original sum, he noted.

FEC APPROVES N1.3 TRILLION FOR VEHICLES PURCHASE

Meanwhile, Mohammed Abdullahi, minister of environment, said the council approved N1.35 trillion for the procurement of 31 project vehicles for the hydrocarbon pollution remediation projects in Ogoni land.

“Recall that last year in December, the federal executive council approved some projects for Ogoni people and remediation of some polluted site,” Abdullahi said. 

“So, in view of this development, and because of the desire to ensure effective supervision of this project, particularly the five water schemes and the 16 upcoming water schemes and the proposed shoreline remediation, and also the proposed centers of excellences to be built within Ogoni land.

“And in view of the fact that we are going to inspect on a regular basis, experts from outside the country, there is a need to provide project vehicles so that they can effectively inspect, supervise and monitor the remediation exercise.

 “So, FEC today approved the sum of N1,354,016,250 only in favor of Messers Mujaf Automobile Nigeria Limited to provide 31 vehicles for the project.

“These include one 18-seater Toyota Hiace bus, one 30-seater Toyota coaster bus. They are all supposed to be 2022 models. Then 11 Toyota Hilux double cabin four wheel drive — also a 2022 model, with diesel engine.

“Then 15 Toyota Hilux double cabin four wheel drives, diesel and petrol engine also 2022 models. Then one Toyota Landcruiser twin turbo 2022 model and lastly two units of Land Cruiser V6 Prada for the projects.

Only 31 vehicles were approved for the hydrocarbon pollution remediation project to ensure effective supervision of the project, particularly delimitation sites.”

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