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NNPC to spend N1tr on road projects

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The Nigerian National Petroleum Company (NNPC) Ltd, on Thursday, inspected some of the 21 critical federal roads of over 1,804.6km funded by a N621.24 billion tax credit scheme.

The NNPC had last year pledged to provide funds for the reconstruction of selected road projects in order to ease the movement of petroleum products.

The project was made possible through the tax credit scheme for the NNPC via the Federal Inland Revenue Service.

The Group Chief Executive Officer of NNPC Ltd, Mele Kyari, who inspected the reconstruction of the Bida-Lambata section of the Suleja-Mokwa highway in Niger State on Thursday, pledged N1 trillion more investments in road infrastructure.

READ ALSO:Nigeria loses $54.7m daily, as NNPC claims 700,000 barrels of crude lost per day

He said: “This is one of the many roads we are doing and we are very satisfied with what we have seen so far. We’re not stopping at this. We’re also going to head on to phase two, which will also enable further over a trillion naira of investment by NNPC in road infrastructure.

“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.”

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