The federal executive council has approved a request of the Nigeria National petroleum corporation to deploy tax resources for the construction of twenty one roads across the country.
The federal government believes this will put an end to issues of financing road construction that often prolongs the execution of construction contracts in the country.
This is in accordance with executive order 7 road infrastructure tax credit scheme signed by president Buhari that allows private sector operators to identify infrastructure such as roads which they would construct using their tax remittance.
The minister of Works and housing Babatunde Raji Fashola disclosed that this is a strategic intervention by the government that will also take off the burden of funding major road projects from the national budget.
The federal executive council also approved the request of the ministry of power for the procurement and supply of two transformers to the transmission company of Nigeria.
