We’ve paid in full for rehabilitation of Lagos-Badagry Expressway: NNPC – Pegars News

The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has disbursed N15 billion required for the reconstruction of the Lagos-Badagry Expressway below the Federal Government Road Infrastructure Tax Credit (RITC) Scheme.

This represents a 100 per cent fee of the funding of the Lagos-Badagry highway rehabilitation below the tax credit score funding of the NNPC Ltd.

NNPC Group Chief Executive, Mele Kyari, made this recognized on Thursday when he led NNPC’s administration crew with some prime authorities officers to examine the ongoing rehabilitation and enlargement of Lagos-Badagry Expressway (Agbara Junction-Nigeria/Benin Border).

The execution of the scheme is being carried out in collaboration with the Federal Ministry of Works and Housing as the supervisor and Federal Inland Revenue Service (FIRS) for NNPC’s tax obligations deductions.

This is in response to deal with the plight confronted by petroleum merchandise entrepreneurs in transportation which impacts nationwide distribution.

Mr Kyari stated the fund disbursed was half of the N621.24 billion earmarked for the reconstruction of 21 roads nationwide below the scheme.

He expressed satisfaction over the stage of the highway growth.

“We are protecting 1,804.6 km throughout the nation and taking one other set of over a trillion naira funding on infrastructure in Nigeria, believing that with the tax credit score system which Mr President has put in place, very quickly there will be huge change.

“NNPC as the enabler will contemplate from its money move and fund no matter FIRS and Ministry of works approve for the firm.

The Minister of Works and Housing, Babatunde Fashola, represented by the Director, Highways, Roads and Rehabilitation of the Ministry, Folorunsho Esan, stated the intervention of the NNPC sped up the reconstruction of the expressway.

Mr Esan stated that the challenge was 40 per cent accomplished.

“In the next 12 months we should be able to deliver this project because the drainages are in place, just for earth works and pavement works, it cannot take us more than 12 months,” he stated.

Speaking on the gridlock being induced by the Lagos-Ibadan Expressway challenge, he stated the contractor would clear all impediments and transfer out of web site by December 15 to make the freeway free for Yuletide.

Olukorede Keisha, Federal Ministry of Works engineer supervising the Lagos-Badagry Expressway challenge, gave a quick of the challenge, itemizing the drains, culverts and different building works carried out on varied stretches.

Israel Okoya, Oba of Ibereko in Badagry Royal Majesty, who lauded the federal authorities and NNPC for the intervention, stated earlier than the reconstruction, the highway was in a horrible state of affairs making visitors insufferable for motorists.

As half of the inspection of the vital highway infrastructure in key financial areas, the NNPC’s crew had earlier inspected dualisation of Suleja-Minna Road Phase II and ongoing reconstruction of Bida-Lapai-Lambata highway in Niger State.

On January 25, 2019, President Muhammadu Buhari, signed the Executive Order No 007 on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, which is for a interval of 10 years from its graduation date. 


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