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Buhari okays N1.9tr for NNPC to reconstruct 44 federal roads

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Four months to end of his administration, President Muhammadu Buhari has approved for the Nigerian National Petroleum Corporation Limited, to invest N1.9 trillion in reconstruction of 44 federal roads under the tax credit policy.

Media Assistant, Media and Publicity (Office of the Vice President), Laolu Akande, who made the disclosure at the end of the weekly Federal Executive Council (FEC) meeting, yesterday, in Abuja, said the approval fell under the Federal Government Road Infrastructure Development and Refurbishment Investment Tax Credit Policy Phase 2 to be executed by NNPCL and its subsidiaries.

He said: “So, the Council approved the proposal by the Ministry of Works and Housing for the reconstruction of 44 proposed federal roads with a total length of 4,554 kilometres in the total sum of N1.9 trillion.”

The approval is coming 15 months after NNPCL expressed interest in investing in the reconstruction of selected federal roads to sustain smooth supply and distribution of petroleum products across the federation.

President Buhari had, on January 25, 2019, signed the Executive Order 007, which birthed the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, geared at unlocking funding from the private sector to critical road infrastructure in the country.

The presidential order was to empower private companies to finance construction or refurbishment of federal roads designated as “Eligible Roads” under the scheme and recoup their investments through deduction from their yearly Companies Income Tax.

READ ALSO:Buhari, OBJ, Adebanjo, Sanwo-Olu, Obi, Tinubu, others hail Anyaoku @90

The programme is a public-private partnership (PPP) intervention that enables the Federal Government to leverage private sector’s capital and efficiency for construction and refurbishment of critical road infrastructure in key economic areas in Nigeria.

Under the initial programme, the NNPC is constructing a total of 1,804.6 kilometres of roads at a total cost of N621,237,143,897.35.

A breakdown of the funding showed that the North Central geo-political zone, made up of the Federal Capital Territory (FCT), Benue, Kogi, Kwara, Nasarawa, Niger, and Plateau states, got the highest share of N244.87 billion for construction of 791.1 kilometres of road.

The South-South region, comprising Akwa Ibom, Bayelsa, Cross River, Delta, Edo and Rivers states, emerged second highest beneficiary, with N172.02 billion for a total of 81.9 kilometres of road.

The Southwest, consisting of Ekiti, Lagos, Osun, Ondo, Ogun and Oyo states, followed with a total allocation of N81.87 billion for construction of 252.7 kilometres of roads.

The NNPCL allocated N56.12 billion to North East, comprising Adamawa, Bauchi, Borno, Gombe, Taraba, and Yobe states, for construction of 273.35 kilometres of roads under the scheme.

The Southeast geo-political zone, made up of five states, including Abia, Anambra, Ebonyi, Enugu and Imo, got N43.28 billion allocation for construction/rehabilitation of 122 kilometres of road.

The national oil company allocated N23.05 billion for rehabilitation of 283.5 kilometres of road to Northwest geo-political zone, consisting of Kaduna, Katsina, Kano, Kebbi, Sokoto, Jigawa and Zamfara states.

The road projects are being funded by NNPC and the amount is deducted by the Federal Inland Revenue Service (FIR) from the NNPCL’s tax obligations.

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FRSC warns truck drivers against speeding, reckless driving

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Mr Joshua Ibitomi, the Area Commander of Federal Road Safety Corps (FRSC),
Ibeju-Lekki, Epe Division, Lagos State, has warned truck drivers against speeding and reckless driving.

He gave the warning in an interview with the News Agency of Nigeria (NAN) in Ibeju-Lekki on Tuesday.

The FRSC official, who blamed speeding on the ghastly vehicle accident that occurred at Aiyetoro market in Epe
which claimed several lives and left some injured, said that with careful driving, such accident could be avoided.

He added that “the accident was as a result of speeding, reckless driving and loading of truck beyond its capacity.

“All these are factors responsible for accident when drivers are not conscious of the driving rules.

“Vehicle can develop technical fault at any time, therefore, speed limit and caution need to be applied while driving.”

He said FRSC had been sensitising drivers on the need to install speed limit device and be road conscious while driving, in line with the mandate to instill decent use of road.

Ibitomi also advised passers-by and the public to be safety conscious while walking on roadsides to avoid falling victim of accidents.

He attributed major road crashes on roads to speed limit violation, urging drivers to respect the sanctity of human life by obeying traffic rules.

He added that the FRSC had evolved measures to ensure accident-free yuletide and new year festivities in 2024

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Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

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Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

Jubilant supporters celebrated Donald Trump’s apparent victory in Florida early Wednesday as he claimed a return to the White House, despite most major news networks holding off on officially calling the race.

At an event in Palm Beach, Trump supporters reveled in the win projected by Fox News, cheering as the former president declared a “political victory that our country has never seen before.”

“I feel extraordinary,” said 68-year-old supporter Ted Sarvanis, dancing with arms in the air. “This is the greatest American political story in the history of the country.”

Joined by running mate J.D. Vance, Trump took the stage, celebrating his projected win. The atmosphere at the convention center was electric, with supporters sporting “Make America Great Again” caps and mingling in formal attire and Trump-themed clothing.

“I feel relieved. I was a little bit scared because you never know how things are going to turn out,” said Stacy Kurtz, 45.

In contrast, a far different scene unfolded for Vice President Kamala Harris’s supporters at Howard University in Washington, where they were hoping for a Democratic win.

As the night wore on and Trump gained electoral votes in key battleground states, disappointment swept through the crowd.

“I am scared, I am anxious now,” said Charlyn Anderson earlier in the evening.

Democratic watch parties in places like Atlanta and Pennsylvania grew somber as results rolled in, with Lynn Johnson, 65, expressing concern, “It’s going to be dangerous if he wins. I don’t feel safe.”

While Trump’s supporters celebrated a comeback, the mood among Democrats was marked by worry and disbelief.

“He’s a terrible candidate, so it just doesn’t make sense,” said Harris supporter Ken Brown.

The contrasting scenes highlighted the nation’s deep political divide on election night.

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Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

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Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

President Bola Tinubu has extended warm congratulations to President Donald Trump on his re-election as the 47th President of the United States, expressing optimism for stronger ties between Nigeria and the U.S. in an era of global challenges.

The congratulatory message, issued by Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, emphasises the Nigerian leader’s hopes for a renewed partnership between the two nations.

Following his victory on Wednesday, Trump pledged to “heal” the country, marking a stunning political comeback as he edged past Kamala Harris in a closely contested election.

Tinubu, in his message, affirmed, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.”

Tinubu highlighted that Trump’s return to the White House reflects the trust and confidence of the American people in his leadership, praising their commitment to democracy.

Given Trump’s experience from 2017 to 2021 as the 45th President, Tinubu foresees a new era of “earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.”

The Nigerian President also expressed confidence that Trump’s leadership will contribute to peace and prosperity worldwide, acknowledging America’s significant influence on global affairs.

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