Connect with us

News

NNPC gets Nigerian govt’s approval to deploy N621.2bn tax liabilities on road projects

Published

on

The Federal Executive Council (FEC) on Wednesday gave the Nigerian National Petroleum Corporation (NNPC) the approval to deploy its N621.2 billion tax liabilities on road projects across the six geopolitical zones in the country.

The Minister of Works and Housing, Babatunde Fashola, disclosed this to State House correspondents at the end of the FEC meeting presided over by Vice President Yemi Osinbajo in Abuja.

Fashola said the roads would cover a total distance of 1,804.6 kilometres.

He said Executive Order 7 signed by President Muhammadu Buhari last year allowed the private sector operators to identify infrastructure which they would deploy in advance the taxes that they should have paid to the government coffers.

He said: “You recall that I had briefed you here about the use of that policy by the Dangote Group on the Obajana to Kabba and Apapa to Oworonshoki.

“Earlier this year, there were five other roads, the Kaduna Western Bye-pass, the Lekki Port Road, the road from Sagamu through Papalanto, and a couple of others like that.

“So, today we have another player; we have other interested players who are showing interest but we haven’t concluded.

“But we have another player who has shown interest and committed to deploy taxes and it is the NNPC.

READ ALSO: Nigerian govt approves N38.4bn for road projects in Anambra, Bayelsa, three others

“So NNPC has identified 21 roads where it will deploy some of its tax liabilities.”

The minister said the instructive thing about the initiative was that it would help the government to achieve the Ministerial Mandate Three and Four discussed at the recent retreat.

He said the Ministerial Mandate Three was energy sufficiency in electric power and petroleum energy distribution across the country.

Fashola added: “The petroleum energy distribution is being impacted positively and negatively by the transport infrastructure, which is the Ministerial Mandate Four.

“So, NNPC has sought and council has approved today that NNPC deploy tax resources to 21 routes covering a total distance of 180.6km across the six geopolitical zones.

“Out of those 21 roads, nine are in the North-Central, particularly Niger State; and the reason is that Niger State is a major storage centre for NNPC.’’

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment2 mins ago

Singer, Harrysong welcomes a child with wife (video)

Local10 mins ago

New Zealand passes law allowing change of sex on birth certificates

News14 mins ago

Finance bill makes TIN mandatory for banks’ account holders

Local32 mins ago

Military calls for support from NIPR, other professional bodies

Business News34 mins ago

Outstanding Debts: Be Patient With us—NDDC Begs Contractors

News36 mins ago

Rivers man attempts suicide for losing savings to forex scam, police arrest victim

Politics36 mins ago

Umahi set to establish two more universities in Ebonyi

Local54 mins ago

Persons with disabilities protest at Lagos Assembly

Business News56 mins ago

FG to Make TIN Compulsory for Bank Account Holders

News60 mins ago

Concern as vaccinated participant tests positive, organisers trace contacts

Local1 hour ago

Gov. Zulum bans NGOs from giving food to Borno resettled communities

News1 hour ago

FG plans to acquire N1.8bn telecom facilities to block fraudsters

Entertainment2 hours ago

Lady defies all odds to emerge the best graduating student of her department

Local2 hours ago

36,000 litres of adulterated diesel seized in Anambra: NSCDC

News2 hours ago

Man found with 2,863 ATM cards arraigned in Lagos

Entertainment2 hours ago

Niyi Lawal’s priceless reaction after receiving early Christmas gift from his wife (Video)

Entertainment2 hours ago

Dowen College staff wear t-shirt with Sylvester’s face (Photos)

News2 hours ago

Some judges sell judgments, retire to escape NJC sanctions – Jega

Entertainment2 hours ago

Police arrest three suspects over children’s mysterious death inside SUV

Local2 hours ago

Policeman Simon Lough sworn in as SAN

News18 hours ago

2023: Group cautions against fresh plots to defame Osinbajo

Business News19 hours ago

EFCC Declares MBA Forex Owner Wanted Over N231bn

Sports22 hours ago

Rio Ferdinand And Michael Owen Have Agreed That Mohamed Salah Was An Average Finisher When At Chelsea

Politics23 hours ago

3800 civil servants to write promotional exams in Bauchi

Entertainment22 hours ago

“She had plastic surgery without informing him, she was seeing another man” – Ned Nwoko’s media team spills ‘truth’ about his separation with Moroccan wife, Laila

Politics22 hours ago

Oyo NIPR holds 2021 dinner, honours Tribune, Ayefele, Onireti, others

News22 hours ago

Man kills neighbour over alleged witchcraft in Akwa Ibom

Local4 hours ago

Nigerian Army honours 52 generals

News21 hours ago

80 Nigerians to graduate from Business School Netherlands

World16 hours ago

ZOA Accuses Yad Vashem of ‘appalling’ censorship of Jerusalem Mufti’s ties to Hitler

Politics21 hours ago

Reps probe N91.873bn Anchor Borrowers loan

Business News15 hours ago

Stanbic IBTC Pension Managers Rewards Customers

Business News22 hours ago

FG to Inject N381trn into Economy to Create Job, Tackle Poverty

Business News23 hours ago

NGX RegCo to Engage Issuers on Post-Listing Requirements

Politics14 hours ago

Dowen College parents mourn, demand justice over death of Sylvester

Business News19 hours ago

How Retirement Can be Enjoyed, Not Endured: The Imperatives!

Politics18 hours ago

Reps pass bill seeking establishment of Federal School of Nursing in Lagos

Entertainment21 hours ago

Fans offer prayers for Sammie as he reveals life hasn’t been easy since he left BBNaija

Business News24 hours ago

Succession and Obligation of Leadership

World18 hours ago

Pope Francis on Lesbos: Europe ‘torn by nationalist egoism,’ neglect of migrants is ‘shipwreck of civilization’

Trending