N15bn tax credit: NNPC okays quality of works on Lagos-Badagry Road

The Group Managing Director of NNPC Limited, Mele Kyari, has expressed satisfaction over the quality of work on Lagos-Babagry Expressway’s construction.

The GMD pointed out that the NNPC’s intervention of N15 billion through the  Federal Road Infrastructure Development and Refurbishment Investment Tax Credit  has taken the road construction from 10 per cent to 40 per cent completion stage.

Kyari, who was on the inspection’s tour of the road’s construction in Badagry area of Lagos, was accompanied by the staff of the Federal Ministry of Work and Housing led by Engr. Esan Folorunsho and NNPC’ staff.

Elated Kyari assured that the company would not hesitate to release another tranche of money for the completion of the international expressway that links Nigeria to  Benin Republic and other West Africa countries, after necessary assessments by  the Federal Ministry of Work and Federal Inland Revenue Service.

Fielding questions from journalists, the NNPC’s GMD said “From what you can see, the intervention from NNPC has taken this project to 40 per cent from 10 percent.

“The contractor is still working and what they have done is quality work. Moreso, they are ready to complete the project with the funding that is going to be provided for them.”

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Kyari said the company intervened in the 22 kilometres section of the road’s project to the tune of N15billion

“We have paid 100 per cent of the N15 billion and we are happy about the work done and the quality.

“We are happy about the intervention. We are doing 1,800 kilometers’ roads across the country. We are taking another set of over N1trillion infrastructure across the country through the tax credit regime, which was introduced by Mr President, and it has become a game changer for the country.

“We are partner, we are enabler and so whatever the Federal Ministry of Work and Federal Inland Revenue Service came up with, we are going to release money for the completion of the section of the road. The road should be completed in another 12 months,” the GMD said.