Tax Credit: NNPC says N621 billion spent on 21 roads; to inject N1 trillion in second phase

The Nigerian National Petroleum Company Limited (NNPC) on Thursday said it will fix more federal roads across the country with an additional N1 trillion under the federal government road infrastructure tax credit scheme.

The NNPCL chief executive officer, Mele Kyari, disclosed this during an inspection tour of the ongoing construction of the Bida-Lambata road in Niger State on Thursday.

In 2019, President Muhammad Buhari signed executive order No. 7 on the road infrastructure development and refurbishment investment tax credit scheme. The scheme enables the federal government to leverage private-sector capital and efficiency for the construction, refurbishment and maintenance of critical road infrastructure, in key economic areas in the country.