BREAKING: FG hails MTN on road construction under tax credit scheme

The Federal government has commended the MTN Nigeria Communication Company for their dedication to the construction of roads across the country under the Tax Credit Scheme…..CONTINUE READING....CONTINUE READING

According to the Infrastructure Concession Regulatory Commission, Nigeria has a road network of around 195,000km, of which 32,000km are federal roads and 31,000km are state roads. Of this total, 60,000 are constructed, leaving 135,000km of road untarred.

The Road Infrastructure Tax Credit Scheme which was introduced in 2022, provides for public-private partnership intervention in the construction, refurbishment and maintenance of critical road infrastructure in the country with participants being entitled to Tax Credits against their future Companies Income Tax.

Some of the Infrastructure Tax Credit Scheme participants include the Nigerian National Petroleum Company (NNPC), MTN Nigeria Communications, Transcorp Group, Access Bank, GZI Industries, Mainstream Energy Solutions, BUA Group, Nigeria LNG (NLNG), and Dangote Group.

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Speaking during a meeting with delegates from the MTN Nigeria in Abuja on Tuesday, David Umahi, the Minister of Works appreciated the nature of work done on the Onitsha – Enugu dual carriage way, which is sponsored by MTN.

He said, “I thank MTN for several ongoing laudable road construction projects under the Tax Credit Scheme. We thank you for your confidence in the country and our government.

“Onitsha – Enugu dual carriage way is a very busy road and if not the most important in South East for our people. It is such a commendable engagement by MTN, I visited this road last week , I like what RCC Construction company is doing , I am very satisfied with their work, it is very impeccable measure of construction, I will be very happy if we can engage on the 2nd carriageway.”

Speaking further, Umahi appealed that the company take on more projects, with emphasis on the Ife- Ondo road. “One project that is very key to our people is Ife- Ondo road we will be having a powerful engagement with you on how we can start this, In a matter of 10 days all issues will be resolved and all the projects will commence.”

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In his remarks, Karl Toriola Olutokun, the chief executive officer of MTN Nigeria said, “A lot of progress has been made since we started and without your tremendous support we wouldn’t have gotten this far , we assure you that we will be satisfactory to you and there will be no financial delay.

“Our commitment to these tremendous projects are demonstration of our commitment to this nation and with value of sustainability of our business…..CONTINUE READING