We've Paid N15 billion for the Rehabilitation of Lagos-Badagry Expressway -- NNPC

BY: News Peddlers 

Lagos-Badagry Expressway 

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that it has disbursed N15 billion under the Federal Government's Road Infrastructure Tax Credit (RITC) Scheme for the reconstruction of the Lagos-Badagry Expressway.

This represents a complete payment of the NNPC Ltd's tax credit funding for the Lagos-Badagry road rehabilitation.

Mele Kyari, Group Chief Executive of NNPC, announced this on Thursday while leading NNPC's management team and some top government officials to inspect the ongoing rehabilitation and expansion of the Lagos-Badagry Expressway (Agbara Junction-Nigeria/Benin Border).

The scheme is being implemented in collaboration with the Federal Ministry of Works and Housing as the supervisor and the Federal Inland Revenue Service (FIRS) for the deduction of NNPC's tax obligations.

This is in response to the plight of petroleum product marketers in transportation, which has an impact on nationwide distribution.

Mr Kyari stated that the fund disbursed was part of the N621.24 billion earmarked for the scheme's reconstruction of 21 roads nationwide.

He expressed satisfaction with the road's current state.

"We are covering 1,804.6 kilometres across the country and investing over a trillion naira in infrastructure in Nigeria, believing that with the tax credit system that Mr. President has put in place, there will be massive change very soon."

"NNPC, as the enabler, will consider and fund whatever the FIRS and Ministry of Works approve for the company."

The Minister of Works and Housing, Babatunde Fashola, was represented by the Ministry's Director of Highways, Roads, and Rehabilitation, Folorunsho Esan, who stated that the NNPC's intervention accelerated the expressway's reconstruction.

Mr Esan stated that the project was 40% complete.

"We should be able to deliver this project in the next 12 months because the drainages are in place; only earthworks and pavement work should take us longer," he said.

In response to the traffic congestion caused by the Lagos-Ibadan Expressway project, he stated that the contractor would remove all impediments and leave the site by December 15 in order to make the highway available for Yuletide.

The Federal Ministry of Works engineer supervising the Lagos-Badagry Expressway project, Olukorede Keisha, gave a brief overview of the project, listing the drains, culverts, and other construction works completed on various stretches.

"Prior to the reconstruction, the road was in a terrible state, making traffic unbearable for motorists," according to His Royal Majesty, Israel Okoya, Oba of Ibereko in Badagry, who lauded the federal government and NNPC for their intervention.

The NNPC's team previously inspected the dualisation of Suleja-Minna Road Phase II and the ongoing reconstruction of Bida-Lapai-Lambata road in Niger State as part of the inspection of critical road infrastructure in key economic areas.

On January 25, 2019, President Muhammadu Buhari signed Executive Order No. 007 on the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, which will be in effect for ten years.

(NAN)