Home / News / RUNDOWN OF STATES TO BENEFIT AS FEC AWARDS N309BN CONCRETE ROAD CONTRACTS TO DANGOTE AS TAX CREDIT

RUNDOWN OF STATES TO BENEFIT AS FEC AWARDS N309BN CONCRETE ROAD CONTRACTS TO DANGOTE AS TAX CREDIT

The Federal Executive Council (FEC) has endorsed the honor of an agreement to Dangote Industries to build five substantial streets adding up to 274.9 kilometers at N309,917,717,251.35 to be progressed by the organization as a tax reduction.

Babatunde Fashola, the clergyman of works and lodging, expressed this on Wednesday, July 14, while instructions newsmen toward the finish of the FEC meeting directed by President Muhammadu Buhari.

Here is a rundown of states where the five streets will be built:

1. Borno State

a) Bama to Banki (49.153 kilometers) – N51.016 billion

b) Dikwa to Gamboru-Ngala (49.577 kilometers) – N55.504 billion

2. Kaduna Express

a) Nnamdi Azikiwe Road, famously known as a Western Bypass, from Command Junction to Kawu (21.477 kilometers) – N37.560 billion

3. Lagos State

a) Deep seaport access street areas 1 and 3 in Lagos State, through Epe to Shagamu Expressway, connecting Lagos and Ogun States (54.24 kilometers) – N85.838 billion

4. Ogun State

a) Obele/Ilaro/Papalanto to Shagamu Road (100 kilometers) – N79.996 billion

READ ALSO: “GOD BLESSED ME WITH TRIPLETS, I LOST ONE OF THEM”- KIZZ DANIEL

Tax reduction drive

As per Fashola, the undertaking will be executed under the Federal Government Roads Infrastructure Tax Credit strategy.

This implies Dangote Industries will be paid for the undertakings by eliminating the expense from the assessment it is relied upon to pay to the national government.

Fashola clarified that the tax reduction drive through which the venture is being financed was in presence in the last organization before this administration yet was not used.

He said the Buhari organization has reexamined it, extended it, and has utilized it to build streets like the Apapa Wharf Road, the Oworonsoki to Apapa, through Oshodi Road, by a similar Dangote Group.

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