Nigeria: NNPC Plans to Rebuild Roads Under Tax Credit Scheme

13 October 2021

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari has disclosed that the Corporation plans to rebuild key roads used in the transportation of petroleum products using Federal Government's Tax Credit Scheme.

A statement by the NNPC's Group General Manager Group Public Affairs Division, Mr. Garba Deen Muhammad on Wednesday said Kyari made this disclosure during a meeting with downstream stakeholders in Abuja.

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).

The Corporation had Monday averted a planned nationwide strike action by Tanker Drivers over the poor state of roads across the country.

Kyari explained that stakeholders have agreed on a framework for NNPC's intervention in critical road rehabilitation through the Federal Government Tax Credit Scheme.

According to him, "Ware 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".

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.

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, NNPC added.

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.

NNPC noted that the meeting was a follow-up to its efforts in sustaining the current smooth supply and distribution of petroleum products nationwide within the festive period and beyond.

Vanguard News Nigeria

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