More Companies Embrace Road Credit Tax Scheme

 


Justice Amah

More corporate organisations have embraced the federal government-initiated road tax credit scheme (TCS) that was designed to reduce road infrastructure deficit in Nigeria. 


Dangote Group Plc, NNPCL, MTN Nigeria, NLNG and Floor Mills of Nigeria are among the companies that have started taking advantage of the scheme to improve access to their operational centres and public perception.


The TCS which was introduced four years ago to enable private sector operators invest in infrastructure across the country, has become a major game changer in the provision of roads. 


Nigeria has about 195, 000 kilometers of untered roads. According to official data, 63,000km of roads have been built by both the federal and state governments, a gap the government seeks to close with introduction of the scheme that allows private sector companies to build roads. 


The roads under construction have strategic economic interest to the country such as the Bonny-Bodo road and bridge which is funded by NLNG and near completion, the Lagos – Badagary Express Way as well as the Apapa – Oshod in Express Way.


While NNPC is funding 44 roads across the country, the Federal Government has assured that theses roads are strategically spread across the geo-political zones.


With more companies embracing the scheme, there is now provision of more raids across the country, which are timely executed, with higher quality.


The Special Assistant to the Executive Chairman of the Federal Inland Revenue Service (FIRS) Media and Communication, Johannes Wujuola said the service and indeed the federal government is open to more partnerships with private organisations who can take advantage of the programme to improve road network, increase access to the market, and improve the national economy.

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