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NNPC secures FG’s Tax Credit Scheme to repair roads

NNPC secures FG’s Tax Credit Scheme to repair roads

 

By Amaka Edmund

The Nigerian National Petroleum Corporation (NNPC) has secured the Federal Government’s Tax Credit Scheme to rehabilitate dilapidated roads in the country.

Mele Kyari, Group Managing Director of the NNPC made this known on Tuesday, during a meeting with stakeholders at the NNPC Tower where he took a decisive step towards actualization of his promise to intervention in Nigeria’s deplorable road network.

The meeting was a follow-up to the corporation’s efforts in sustaining the current smooth supply and distribution of petroleum products nationwide within the festive period and beyond and  to find lasting solutions to the road network challenges and other lingering issues.

The meeting was attended by the NNPC, the Petroleum Tanker Drivers (PTD), the National Association of Road Transport Owners (NARTO), Department of Petroleum Resources (DPR), Federal Ministry of Works, Federal Inland Revenue Service (FIRS), Department of State Services (DSS), Federal Road Safety Corps (FRSC) and Nigeria Union of Petroleum & Natural Gas Workers (NUPENG).

Kari was quoted in a statement signed by Garba Deen Muhammad Group General Manager Group Public Affairs Division as saying, “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”.

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 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.

Established under FG’s Executive Order 7 of 2019, the Road Trust Fund Policy/Tax Credit Scheme gives private sector operators an opportunity to fund critical infrastructure with the government.

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