Approval of MTN repair of Enugu-Onitsha Road: FG Marches on with tax credit scheme - Group

Wed, Oct 19, 2022
By editor


THE Federal Executive Council’s approval of N202.8 billion for the repair of the Enugu-Onitsha road by the MTN under the Tax Credit Scheme is another evidence that the Buhari administration is committed to its innovative programmes.

According to the Buhari Media Organisation (BMO), the approval for the road project was predicated on Executive Order 7 signed by the President in January 2019.

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the road which stretches up to 110 kilometres had remained in a dilapidated state for many years.

“With the emergence of the President Muhammadu Buhari administration, a new policy direction was devised towards solving the perennial problems of the country’s infrastructure. The policy which is known as Road Infrastructure Tax Credit Scheme is designed to allow the private sector to invest their tax liabilities in advance on infrastructure.

“So far, the policy has enabled the private sector financing of such roads as Obajana-Kabba, Apapa-Oshodi, Oshodi-Ojota, and Bodo-Bonni Expressway in Port Harcourt.

“It is noteworthy that this policy thrust by the Buhari administration has gone a long way to revive numerous road infrastructure in the country. Similarly, the policy has ensured the involvement and participation of the private sector in the infrastructural development of the country.

“The involvement of the private sector is a clear manifestation of the confidence the conglomerates reposed in the economy of the country, and this further shows their belief in the sustainability of the Buhari government’s economic policies”.(NAN)