FG has vowed to complete abandoned NNPC Tax Credit Road Projects.
NaijaOnPoint Nigeria reports that Nigeria’s Minister of Works, Dave Umahi, has confirmed that the Nigerian National Petroleum Company Limited (NNPCL) has halted funding for its tax credit road projects nationwide.
Speaking during an inspection of the ongoing dualisation of the East-West Road (Section IIIA) from Eleme Junction to Onne Junction in Rivers State on Tuesday, Umahi said President Bola Ahmed Tinubu has directed the Ministry of Works to ensure all inherited projects under the NNPCL tax credit scheme are completed.
According to a statement by his spokesperson, Orji Uchenna Orji, the minister stressed that while funding from NNPCL has stopped, the federal government is committed to prioritising key infrastructure projects critical to national economic growth.
“Let me say that this is part of the NNPC tax credit that has been stopped in terms of funding by NNPC. But graciously, we have compiled all the NNPC inherited tax credit projects and presented them to Mr President. Mr President has graciously directed that none of such works should stop,” Umahi said.
He added that projects valued at less than ₦20 billion will be reserved for indigenous contractors, in line with the administration’s local content policy.
The minister further assured that strategic projects along Nigeria’s economic corridors, including the East-West Road, would receive priority attention to accelerate completion and boost connectivity.