Posted by Amarachi on Fri 09th Dec, 2022 - tori.ng
He said the N1tn would be invested on road projects through the Federal Government road infrastructure tax credit scheme.
Mele Kyari
Chief Executive officer of the Nigerian National Petroleum Company, Mele Kyari, has disclosed that the NNPC will provide additional N1tn for road projects in the country.
Kyari made the announcement in Lagos on Thursday, December 8, during a tour of the construction exercise ongoing at the Agbara-Badagry road project.
He said the N1tn would be invested on road projects through the Federal Government road infrastructure tax credit scheme.
Around the third quarter of 2021, the NNPC announced its intention to provide funds for the reconstruction of selected road projects in order to ease the movement of petroleum products.
Kyari said, “We are very happy about the state of this road development. We are very happy with this intervention across the country not just in this place. We are doing 1,800km across the country. We are taking another set of over N1tn of investments in road infrastructure in the country.
“We believe that this tax credit system which Mr. President has put in place is the game changer for our country.
“We believe that in the next 24 months, there will be massive change to the entire road network in this country and this is why the NNPC is your company and working for all of us.
“We think that it is the best way to intervene and bring up our infrastructure. We are adding another set of cash, we have not reached the final numbers, but I know it is over N1tn.”