Telecommunications company, MTN and cement manufacturing company, BUA Group are some of the private sector companies that won the bid to construct federal roads as part of the Road Infrastructure Tax Credit Scheme.
Other participating private sector firms are Access Bank, Trancorp Group, GZI industries, Mainstreet Energy and Dangote Group.
The scheme enables companies with high tax profiles to construct roads in a negotiated agreement with the Federal Government to provide the infrastructure in lieu of their taxes.
MTN has been saddled with the responsibility of constructing the 110km Enugu – Onitsha road in Anambra State in exchange for tax credits.
The Trancorp Group is to construct the Oyinbo – Izuoma – Mirinwayi – Oklama – Afam Road; Access Bank will fix the 5km Oniru axis of VI – Lekki circulation road in Lagos State while GZI industries is to re-construct Umueme village road, Abia State.
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In Niger State, Mainstreet Energy is saddled with the construction of Malando – Garin Baka – Ngwaski Road and the rehabilitation of Mokwa – Nasarawa road.
The BUA Group will construct Bode – Saadu – Lafiagi road; Eyinkorin road and bridge and Okura Road which links Benin Republic with Osun states.
The Dangote Group on it’s part, will construct deep seaport road through Epe to Sagamu – Benin; Kaaba – Ekiti Boundary.
The Chairman of BUA Group, Abdul Samad Rabiu, during a meeting with the Minister of Works and Housing, Babatunde Fashola; and Minister of State for Works and Housing, Engr Abubakar D. Aliyu in Abuja on Wednesday, commended the federal government for the initiative.
President Muhammadu Buhari in 2019 signed the Executive Order 7 (Companies Income Tax Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme) to attract Public Private Partnership financing for road construction across the country.
