{"id":67503,"date":"2022-12-09T11:09:54","date_gmt":"2022-12-09T10:09:54","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=67503"},"modified":"2022-12-09T11:09:54","modified_gmt":"2022-12-09T10:09:54","slug":"nnpc-disburses-n15b-for-lagos-badagry-expressway-reconstruction","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nnpc-disburses-n15b-for-lagos-badagry-expressway-reconstruction\/","title":{"rendered":"NNPC Disburses N15b For Lagos-Badagry Expressway Reconstruction"},"content":{"rendered":"<div align=\"left\">\n<p dir=\"ltr\">The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disbursed N15 billion for the reconstruction of the Lagos Badagry Expressway under the Federal Government Road Infrastructure Tax Credit (RITC) Scheme.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">The N15 billion represents a 100 per cent payment of the funding of the Lagos-Badagry road rehabilitation under the tax credit funding of the NNPC Ltd.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">The NNPC Group Chief Executive, Mr Mele Kyari, made this known on Thursday when he led NNPC\u2019s management team with some top government officials to inspect the ongoing rehabilitation and expansion of Lagos-Badagry Expressway (Agbara Junction-Nigeria\/Benin Border).<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">The News Agency of Nigeria (NAN) reports that the road under rehabilitation is being funded by the NNPC Ltd. under the Federal Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">The execution of the scheme is being carried out in collaboration with the Federal Ministry of Works and Housing as the supervisor and Federal Inland Revenue Service (FIRS) for NNPC\u2019s tax obligations deductions.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">This is in response to address the plight faced by petroleum products marketers in transportation which affects nationwide distribution.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">Kyari said the fund disbursed was part of the N621.24 billion earmarked for the reconstruction of 21 roads nationwide under the scheme.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">He expressed satisfaction over the stage of the road development.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">\u201cWe are covering 1,804.6mkm across the country and taking another set of over a trillion naira investment on infrastructure in Nigeria, believing that with the tax credit system which Mr President has put in place, very soon there will be massive change.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">\u201cNNPC as the enabler will consider from its cash flow and fund whatever FIRS and Ministry of works approve for the company.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">The Minister of Works and Housing, Mr Babatunde Fashola, represented by the Director, Highways, Roads and Rehabilitation of the Ministry, Mr Folorunsho Esan, said the intervention of the NNPC speed up the reconstruction of the expressway.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">Esan said that the project was 40 per cent completed.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">\u201cIn the next 12 months we should be able to deliver this project because the drainages are in place, just for earth works and pavement works, it cannot take us more than 12 months,\u201d he said.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">Speaking on the gridlock being caused by the Lagos-Ibadan Expressway project, he said the contractor would clear all impediments and move out of site by December 15 to make the highway free for Yuletide.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">Earlier, Mrs Olukorede Keisha, Federal Ministry of Works Engineer supervising the Lagos-Badagry Expressway project, gave a brief of the project, listing the drains, culverts and other construction works done on various stretches.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">Oba Israel Okoya, Oba of Ibereko in Badagry Royal Majesty, who lauded the Federal Government and NNPC for the intervention said before the reconstruction, the road was in terrible situation making traffic unbearable for motorists.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">NAN reports that as part of the inspection of the critical road infrastructure in key economic areas, the NNPC\u2019s team had earlier inspected dualisation of Suleja- Minna Road Phase II and ongoing reconstruction of Bida- Lapai-Lambata road in Niger State.<\/p>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">It could be recalled that on Jan. 25, 2019, President Muhammadu Buhari, signed the Executive Order No 007 on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, which is for period of 10 years from its commencement date.<\/p>\n<\/div>\n<\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disbursed N15 billion for the reconstruction of the Lagos Badagry Expressway under the Federal Government Road Infrastructure Tax Credit (RITC) Scheme.\u00a0<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":67504,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17,624],"tags":[5881,188],"coauthors":[2391],"class_list":["post-67503","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","category-politics","tag-lagos-badagry-expressway","tag-nnpc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NNPC Disburses N15b For Lagos-Badagry Expressway Reconstruction - National 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