Companies to construct roads for tax credit as Buhari signs Executive Order 007

President Muhammadu Buhari has signed a new executive order that permits companies in the country to fund the construction of major roads in the country.

The order tagged Executive Order 007, was signed in Friday by the President at the Presidential Villa, Abuja.

Christened “Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme”, the order allows companies to finance such constructions while they get paid back in the form of tax credit.

The new order is believed to be one the ways the Federal Government hope to tackle the nation’s infrastructural deficit, especially roads.

Read also: FG to auction N150bn bond on Jan 30

The government have been faced with serious paucity of funds since the price of crude oil plummeted, leaving huge budget deficit and heavy borrowing to meet critical obligations of government.

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