Developmental
NNPC Presents N621bn Cheque to Nigerian Government for Critical Road Rehabilitation Projects
The Nigerian National Petroleum Company Limited on Tuesday presented a symbolic cheque of N621bb to the ministry of works and housing for the construction of 21 selected roads across the country.
Recall, the Corporation in October had expressed interest to invest in the reconstruction of selected federal roads to sustain a smooth supply and distribution of petroleum products across the country.
The road construction project which is being executed under the tax credit scheme is funded through the Federal Inland Revenue Service following Mr President Muhammadu Buhari’s executive order 7.
Under the programme, the NNPC will construct a total of 1,804.6 kilometres of roads at a total cost of N621, 237,143,897.35.
A breakdown of the project funding showed that the North-Central geo-political zone got the highest chunk of N244.87bn for the construction of 791.1 kilometres of roads.
The North-Central is made up of Benue, Federal Capital Territory, Kogi, Kwara, Nasarawa, Niger, and Plateau State.
The South-South geo-political zone emerged as the second-highest beneficiary of the NNPC Road Infrastructure Development and Refurbishment project with the sum of N172.02bn for a total of 81.9 kilometres of road.
The zone is made up of Akwa-Ibom, Bayelsa, Cross-River, Delta, Edo, and Rivers state.
The South-West followed with a total allocation of N81.87bn for the construction of 252.7 kilometres of roads.
The region is made up of Ekiti, Lagos, Osun, Ondo, Ogun, and Oyo State.
Similarly, the NNPC allocated the sum of N56.12bn to the North-East for the construction of 273.35 kilometres of roads under the scheme.
The states expected to be covered under these zones are Adamawa, Bauchi, Borno, Gombe, Taraba, and Yobe.
For the South-East geo-political zone, the sum of N43.28bn was earmarked for the construction/rehabilitation of 122 kilometres of road.
The zone is made up of five states and they are Abia, Anambra, Ebonyi, Enugu, and Imo.
Further breakdown of the NNPC schedule showed that the North-West geo-political zone which is made up of Kaduna, Katsina, Kano, Kebbi, Sokoto, Jigawa, and Zamfara got the least allocation.
The zone was allocated the sum of N23.05bn for the rehabilitation of 283.5 kilometres of road.
Speaking at the presentation of the symbolic cheque, the Chief Financial Officer of the NNPC, Umar Ajiya, explained that the condition of the road networks in the country is affecting businesses, especially transportation of petroleum products across the country.
According to him, the tax credit scheme presents a good platform to support the rehabilitation of major infrastructural projects.
He said, “The condition of our roads currently affect our business and the energy security of Nigeria.
“Most of our pipelines have been vandalised through the years and sometimes, we find it difficult for our tanker drivers to convey products across the country.
“So we consider the tax credit scheme a very important way to fund these projects, we are working on 21 roads and we are ready to fund the N621bn.
Mohammed Nami, the Chairman of the Federal Inland Revenue Service said that the investment is a result of Executive order 007 of 2019, which use companies tax to fix critical infrastructure.
This tax credit, according to him is issued after confirmation is done that monies that ordinarily should be invested are invested.
He said, “The importance of this scheme cannot be overemphasized because the budgetary allocation for the roads are not only minimal but also insufficient.
“Under the tax credit scheme, companies are allowed to invest in road construction, infrastructural projects in exchange of tax credit certificate we are issuing to them.
“The construction of these roads will ensure that goods are moved from a part of the country to another, as we bridge the infrastructural gap in the country.”
In his remark, the Minister of Works and Housing, Babatunde Fashola commended the effort of the NNPC while urging companies to take advantage of the tax credit scheme to bridge the infrastructural gaps in the country.
“We are now seeing companies that are showing interest in the scheme, and we hope this will help in developing our infrastructure.
“With this presentation today, contractors will have the confidence to work, knowing that they will be paid,” he added.
The Minister speaking further, clarified that the NNPC was not taking over road projects but ‘putting forth its tax to be used for road construction.
Developmental
Livelihood: Sokoto Govt. expands youths, women empowerment schemes
LivelihoodsThe Sokoto State Government, says it will expand the youths and women empowerment as well as its poverty reduction programmes in the state to sustain achievements already recorded.
Alhaji Ibrahim Dadi-Adare, the state Commissioner for Local Governments and Community Development, disclosed this in an interview with the News Agency of Nigeria (NAN), on Wednesday in Sokoto.
Dadi-Adare explained that the measure was aimed at capturing more population especially in the rural areas.
He disclosed that the ministry had facilitated skills acquisition trainings and distributed working tools to about 2,000 persons last year, adding that in view of the successes recorded the ministry planned to expand the schemes.
He also said that beneficiaries had engaged in small scale businesses which impacted positivity on their lives and that of their families.
”We are upscaling the initiative in partnership with the 23 local government councils, ministries of sports and youths development, Women and Children Affairs and Sokoto State Small Scale and Medium Enterprises Development Agency (SOSMEDA) along with others,” he said.
The commissioner lauded the leadership of Gov. Ahmed Aliyu, for providing the dividends of democracy to the people of the state.
According to him, about roads spanning 30 kilo metres have been rehabilitated within the metropolis, while some in rural areas have also been done and work ongoing in others, by this administration.
”We have also renovated about 42 boreholes to restore adequate water supply to the state and its environs.
”Schools were also renovated and furnished by this administration to enhance teaching and learning in the state,” he said.
Dade-Adare further disclosed that the present administration was also able to procure fertiliser, food items including millet, rice and other grains and distribute freely to residents across the state to cushion the effects of the subsidy removal.
He also disclosed that the state government procured 18-seater buses, cars, tricycles and motorcycles to ease transportation in and outside the state.
He further disclosed that the government renovated health facilities and provided medications as well as procured Toyota Hilux vans for security operatives to enhance their operations in the state.
Dadi-Adare called on residents of the state to support the present administration and prayed for its increased success.
Developmental
Zulum seeks enhanced trade relations between Nigeria, Cameroon
Gov. Babagana Zulum of Borno has called for enhanced trade relations between Nigeria and the Republic of Cameroon, to foster unity and economic growth.
Zulum made the call on Tuesday at a bilateral meeting between officials of the two countries in the border town of Banki.
The meeting was attended by members of the State and National Assembly from Borno State, and officials of the Cameroonian Far North region, led by Gov. Midjiyawa Bakari.
This followed the inauguration of the Banki International Cattle Market, a Memorial Secondary School, and a government lodge in the area.
Zulum highlighted the importance of facilitating trade between citizens of both nations, especially in livestock and agricultural commodities.
He assured his Cameroonian counterpart of his commitment to provide the political will needed to strengthen the economic ties.
“I want to assure you, Your Excellency, that under my leadership, I will provide the political will and commitment to drive the process,” he said.
Zulum lauded President Bola Tinubu for his commitment to promote trans-border trade, noting that steps would be taken to reduce bureaucratic barriers and ensure smooth trade flow.
According to him, Banki is set to become one of Nigeria’s free trade zones, with plans in advanced stage, adding that the Borno government would fulfill its obligations to support the initiative.
He also commended President Paul Biya for his country’s role in managing Nigerian refugees, and called for the establishment of a civil authority to facilitate the safe return of over 20,000 displaced persons to their communities.
Responding, Bakari commended the improved security situation in the area.
He underscored the importance of peace building and sustainable development, adding that Banki International Cattle Market could also boost Cameroonian economy.
“We will ensure that similar projects are replicated in our region,” Bakari said.
He proposed holding another bilateral meeting in Maiduguri or Marwa in Cameroon, to discuss strategies for strengthening regional cooperation to rebuild the economy disrupted by the Boko Haram insurgency.
The President of Borno State Chamber of Commerce, Alhaji Ahmed Ashemi, and the Senior Vice President of the Regional Council of the Far North, Prof. Jalou, emphasised the need for collaboration between the two nations.
They said that such relationships would maximise the benefits of the African Continental Free Trade Area (AfCFTA).
The News Agency of Nigeria (NAN) reports that the meeting was part of ongoing efforts to enhance cross-border trade and promote regional development.
Developmental
Wike’s projects beaming light of hope on rural communities – Etsu Kwali
Mr Luka Nizassan, Etsu of Kwali, Kwali Area Council of the Federal Capital Territory (FCT), says FCT Minister Nyesom Wike’s rural road projects are beaming a light of hope on rural communities.
Nizassan stated this while reacting to the newly inaugurated 11-kilometre Yangoji – Sukuku – Ebbo Road in the area council executed by the Wike-led FCT Administration.
He told the News Agency of Nigeria (NAN) in Abuja on Wednesday, that the communities contribute 30 per cent of food production to the Kwali Area Council.
He described the road project as the most impactful project undertaken by the Wike-led FCT Administration to transform rural communities.
According to him, the construction of the road has renewed the hope and trust of his people in President Bola Tinubu-led federal government and the commitment to deliver good governance to the people.
“No one would have thought that these communities would receive such massive infrastructural intervention until Wike beamed the light of hope on us.
“This road will increase agricultural production by enhancing the movement of farm machines and reducing the cost of transporting agricultural inputs.
“The communities are now accessible for businesses and the evacuation of agricultural products to larger markets, thereby, increasing the economic value of agricultural products.
“This will have a direct bearing on food security and poverty reduction.”
The traditional ruler added that one of the immediate benefits of the road was the significant improvement of security in the area.
He explained that the communities were hitherto prone to kidnappings and other security challenges.
“The road has now provided security agencies the needed access to patrol and respond to distress calls promptly, thus, de-escalating the activities of criminal elements in the area,” he said.
NAN reports that the FCT Minister had on Monday begun the inauguration of completed road projects in rural communities across the six area councils of the territory, beginning with a five-kilometre road in Abaji Area Council.
Wike, said while inaugurating the 11-kilometre Yangoji–Sukuku–Ebo Road on Tuesday, that the gesture was part of Tinubu’s commitment to develop rural communities.
-
Business3 years ago
Facebook, Instagram Temporarily Allow Posts on Ukraine War Calling for Violence Against Invading Russians or Putin’s Death
-
Headlines3 years ago
Nigeria, Other West African Countries Facing Worst Food Crisis in 10 Years, Aid Groups Say
-
Foreign3 years ago
New York Consulate installs machines for 10-year passport
-
Technology5 months ago
Zero Trust Architecture in a Remote World: Securing the New Normal
-
Entertainment2 years ago
Phyna emerges winner of Big Brother Naija Season 7
-
Business8 months ago
Nigeria Customs modernisation project to check extortion of traders
-
Business10 months ago
We generated N30.2 bn revenue in three months – Kano NCS Comptroller
-
Headlines8 months ago
Philippines’ Vice President Sara Duterte resigns from Cabinet