The Federal Government says about 794kms of road have been prioritized for construction by eligible companies through Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.
The Minister of Information and Culture, Alhaji Lai Mohammed disclosed this in Washington DC during his ongoing engagement with global media outlets, global think tanks, and influencers.
The News Agency of Nigeria (NAN) reports that the engagement enables the minister to put across the correct narratives about Nigeria’s happening, showcase government achievements, and present challenges facing the country.
During his respective interaction with Reuters and Washington Post, the minister said, so far, 11 states covering all the six geopolitical zones would benefit from the road project scheme made possible by Executive Order No. 7.
He identified the companies that had taken advantage of the initiative as Dangote Industries, Unilever, Julius Berger, MTN, BUA Group of Companies, Access Bank, Transcorp, Lafarge, and GZI Industries.
Mohammed said the companies would engage in providing big roads and bridges in exchange for the tax credit.
NAN reports that the completed 43km Obajana-Kabba road in Kogi, Nigeria’s longest concrete road, was constructed by Dangote through the tax credit scheme.
The minister also told the media outlets that the western world should look into helping developing nations like Nigeria in build their infrastructure.
He said that doing so would help employ more people, particularly youths, and make it difficult for an ideological group like Boko Haram to recruit them.
He said the areas where Nigeria needed a lot of partnership and support were in the power sector.
“We have embarked on a very ambitious program of providing 3,000mw of electricity at the Mambilla Hydropower Project, which will cost about 5.8 billion dollars.
“We have been able to secure a loan from the Chinese, and they are ready to secure 85 percent of the cost while we provide 15 percent.
“When the project is completed, it is going to be a game-changer in terms of providing power for Nigerians,’’ he said.
The minister said the government had also intervened in not less than 28 road projects through Sukuk Bond.
News Agency Of Nigeria
