Like Dangote, Glo, NNPC to intervene in critical roads rehabilitation under the Federal Government Tax Credit Scheme

Per Second NewsOctober 13, 2021694

Just like its counterparts in the real private sector, the Nigerian National Petroleum Corporation (NNPC) says it will invest in the rehabilitation and reconstruction of some critical roads in the country.

The Group Managing Director of NNPC, Mallam Mele Kyari said the corporation planned to rebuild some roads being used for the transportation of petroleum products which are in bad shape using Federal Government’s tax credit.

Persecondnews had reported that Dangote Group, Glo telecommunications company, and other big companies have won bids to reconstruct some roads across the country under the Federal Government Tax Credit Scheme as announced by Works Minister Babatunde Fashola.

Kyari spoke at a meeting of downstream stakeholders in Abuja attended by the NNPC, the Petroleum Tanker Drivers (PTD), the National Association of Road Transport Owners (NARTO), Department of Petroleum Resources (DPR), and the Federal Ministry of Works.

Others are the Federal Inland Revenue Service (FIRS), Department of State Services (DSS), Federal Road Safety Corps (FRSC) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

The meeting also frowned at the abuse of axle load or tonnage limits with the NNPC agreeing to engage the Nigerian Customs Service for enforcement of preventing the importation of tanks that exceed 45,000 litres capacity.

Stakeholders also agreed to enforce mandatory installation of safety valves in all petroleum product trucks in the country effective February 1, 2022 with full commitment given by NARTO.

The meeting is a follow-up to NNPC’s efforts in sustaining the current smooth supply and distribution of petroleum products nationwide within the festive period and beyond.

Persecondnews recalls that Kyari’s intervention on Monday staved off a national strike by tanker drivers over what they called deplorable state of roads across the country hampering transportation of petroleum products by tanker drivers.

It is a common sight to see tankers falling on the highways as a result of the condition of the roads.

According to Kyari, stakeholders have agreed on a framework for NNPC’s intervention in critical road rehabilitation under the Federal Government Tax Credit Scheme.

“We are committed to utilising the Federal Government’s Tax Credit Scheme to rebuild some of the affected roads in line with Mr. President’s Executive Order 7.

“Upon our fruitful deliberations today, the NNPC has pledged to support the PTD and NARTO in carrying out quick intervention fixes on some strategic bad spots identified to enable unhindered movement of trucks for transportation of petroleum products nationwide,”.Kyari said in a statement by the NNPC’s Group General Manager, Group Public Affairs, Mr Garba Deen Muhammad and made available to Persecondnews on Wednesday.

The Road Trust Fund Policy/Tax Credit Scheme as established under President Muhammadu Buhari’s Executive Order 7 of 2019, gives private sector operators an opportunity to fund critical infrastructure with the government.