The Nigerian government has granted a 10-year tax incentive to Dangote group for the construction and rehabilitation of roads, Minister of Power, Works and Housing, Babatunde Fashola, has said.

Mr. Fashola made this known while speaking at the Businessday Road Construction Summit, held in Victoria Island, Lagos, on Friday.

Mr. Fashola, who disclosed that construction of the Apapa to Oworonshoki end of the Lagos-Ibadan expressway has been handed over to the company, said the government had approved a review of the five-year limit on tax order enjoyed by the company to 10 years.

“We inherited a tax incentive policy for individuals to benefit from tax remission, to recover investment made in public infrastructure like roads, which other members of the public can utilise,” Mr. Fashola said.

He noted that pending applications from Dangote Group were not approved by the previous administration, which the present administration has now approved and work has commenced on the 42.9 km Obajana – Kabba road in Kogi State.

The government, according to Mr. Fashola, had reviewed, “the five-year limit on that tax order to a 10-year period to sustain private investment in road infrastructure, because it is a long-term asset.”

Similarly, government had reviewed “the order by amending individual investment to include groups of individuals because not all potential investors can individually muster the resources alone but can do so as a group, and recover their pro-rated share.”

The minister disclosed further that the government had also signed an agreement with NLNG to construct the Bodo– Bonny Bridge at the cost of N120.6 billion with NLNG and Federal Government sharing the cost 50-50.

“As for the agreement with Dangote, we are now awaiting the design of the 35 km stretch excluding the portion that has been completed, about 7 km, by the previous administration around Mile 2 area.

“From the design, we will determine the cost and the scope of works which we hope can be executed quickly.

“As this Government promised, we will solve the Apapa and Port congestion problem. I can only tell you that the solution is now on the way,” he said.

Source: http://www.premiumtimesng.com/news/more-news/243478-nigerian-government-grants-dangote-group-10-year-tax-incentive.html

Fashola did well improving on the incentives.

Smh

Blue3k:
Fashola did well improving on the incentives.

Hmm. Na wao. Zik made a big mistake singing one Nigeria with naturally foolish people.

Realman87:


Hmm. Na wao. Zik made a big mistake singing one Nigeria with naturally foolish people.

Yeah its wasted mouth breathers like yourself. You probably didn't read past headline before typing this daft mention. Is the tax incentives exclusive to Dangote? Please go form the Mumustan republic.

“We inherited a tax incentive policy for individuals to benefit from tax remission, to recover investment made in public infrastructure like roads, which other members of the public can utilise,”

the order by amending individual investment to include groups of individuals because not all potential investors can individually muster the resources alone but can do so as a group, and recover their pro-rated share.”

Blue3k:


Yeah its wasted mouth breathers like yourself. You probably didn't read past headline before typing this daft mention. Is the tax incentives exclusive to Dangote? Please go form the Mumustan republic.

Illiterate. Why didn't fashole list the individuals/companies that benefited and give the precise details of the tax incentive offered each company before you praise him. I swear, you YORUBAS are naturally STUPID. Thats why the illiterate Fulanis continue to deceive your tribe. Nonsense.

Realman87:


[s]Illiterate. Why didn't fashole list the individuals/companies that benefited and give the precise details of the tax incentive offered each company before you praise him. I swear, you YORUBAS are naturally STUPID. Thats why the illiterate Fulanis continue to deceive your tribe. Nonsense.[/s]

Lol you Biafrats are hilarious idiotic. Was the man supposed to give 2hr lecture on changes he made at conference? Then after list every person and company rule change effects because they're lazy biafrats that won't read.

If you understand English you would know pretty much any company that meets criteria would benefit from incentive. He simply took Jonathan policy and expended it. Please take you and your ilk and form your Mumustan Republic immediately.

they could have given him a lifetime incentive on the project.....

Useless country design by Hausa Fulani to favour Hausa Fulani.....
Useless country where no other tribe have a say on the scheme of things otherwise they label you a terrorist

It shall never be well with Nigeria
The almighty God in heaven who defend the defenceless will fight this battle to alleviate the oppressed

Meanwhile let's celebrate buharis work recently in the East

Blue3k:


Lol you Biafrats are hilarious idiotic. Was the man supposed to give 2hr lecture on changes he made at conference? Then after list every person and company rule change effects because they're lazy biafrats that won't read.

If you understand English you would know pretty much any company that meets criteria would benefit from incentive. He simply took Jonathan policy and expended it. Please take you and your ilk and form your Mumustan Republic immediately.

My Muslim friend
Just shut your hole already

Your level of bias is oozing

ZombieTAMER:

My Muslim friend
Just shut your hole already

Your level of bias is oozing

Lol or what are you going drown me in your tears. Biafrat pig enjoy your after mud bath with the rest of the swine.
What bias an I showing by saying fashola improved the policy. Did fashola not expand incentives to groups when Jonathan only had it with individuals? Is the policy suddenly bad now?

Blue3k:


Lol or what are you going drown me in your tears. Biafrat pig enjoy your after mud bath with the rest of the swine.
What bias an I showing by saying fashola improved the policy. Did fashola not expand incentives to groups when Jonathan only had it with individuals? Is the policy suddenly bad now?

Get behind me

Blue3k:


Lol you Biafrats are hilarious idiotic. Was the man supposed to give 2hr lecture on changes he made at conference? Then after list every person and company rule change effects because they're lazy biafrats that won't read.

If you understand English you would know pretty much any company that meets criteria would benefit from incentive. He simply took Jonathan policy and expended it. Please take you and your ilk and form your Mumustan Republic immediately.

Animal. Were you supposed to praise him prematurely before getting all the facts. Illiterate, Did he say that the incentive criteria is uniform across all intervention areas and regardless of company's size/output. And what are the 'specifics' of the expansion fashole did. You yorubas only have loud mouth. Your illiteracy STINKS.

Mind you, I am not Biafran/igbo; am a Niger Deltan and we have a rich and proud history. Unlike generational slaves called yorubas, none of our land is under perpetual occupation like Kwara state. Ignorant bastard.

ZombieTAMER:

Get behind me

Exactly you have nothing smart to retort back regarding the policy. The developer dust is effecting your mind. Get back singing your song of sorrow in the mud bath.

Realman87:


[s]Animal. Were you supposed to praise him prematurely before getting all the facts. Illiterate, Did he say that the incentive criteria is uniform across all intervention areas and regardless of company's size/output. And what are the 'specifics' of the expansion fashole did. You yorubas only have loud mouth. Your illiteracy STINKS.

Mind you, I am not Biafran/igbo; am a Niger Deltan and we have a rich and proud history. Unlike generational slaves called yorubas, none of our land is under perpetual occupation like Kwara state. Ignorant bastard.[/s]

You just another daft creek boy. You want to criticize prematurely without knowing facts any of those sane facts. Common sense should tell you what policy change entails but Mental deficiency won't let you reason. I'm sorry you were cursed with bad genes I guess.

Blue3k:


Exactly you have nothing smart to retort back regarding the policy. The developer dust is effecting your mind. Get back singing your song of sorrow in the mud bath.

Please don't give me a hand
Get behind me

Blue3k:


Exactly you have nothing smart to retort back regarding the policy. The developer dust is effecting your mind. Get back singing your song of sorrow in the mud bath.



You just another daft creek boy. You want to criticize prematurely without knowing facts any of those sane facts. Common sense should tell you what policy change entails but Mental deficiency won't let you reason. I'm sorry you were cursed with bad genes I guess.

Go and find your level. i am far more knowledgeable than you. Ignorant bastard.

ZombieTAMER:


Please don't give me a hand
Get behind me

Lol go find hand with military. Lol you Biafrats are pathetic social media goons.

Realman87:


Go and find your level. i am far more knowledgeable than you. Ignorant bastard.

Says the boy that can't read past headline making emotional rants. The proud mentally inept Niger deltan. You assume policy is only for dangote because you can't read facts in article. The policy wasn't bad when ND Jonathan started it but nowe it bad when Fashola improves tries to improve it. ND half wit logic.

Wait oh Blue3k, so by this rule individuals can come together, execute public projects and thereafter enjoy tax window individually? It sounds like something that could be exploited but it is better than govt officials who delay projects for as long as 10 years.

Desyner:
Wait oh Blue3k, so by this rule individuals can come together, execute public projects and thereafter enjoy tax window individually? It sounds like something that could be exploited but it is better than govt officials who delay projects for as long as 10 years.

I agree could be exploited maybe but at same time. Delaying projects unnecessarily eats into profits. Private outfits wouldnt want to do such because staff don't work for free.

Blue3k:


Lol go find hand with military. Lol you Biafrats are pathetic social media goons.



Says the boy that can't read past headline making emotional rants. The proud mentally inept Niger deltan. You assume policy is only for dangote because you can't read facts in article. The policy wasn't bad when ND Jonathan started it but nowe it bad when Fashola improves tries to improve it. ND half wit logic.

It seems to me
You are lacking a head with functional brain

ZombieTAMER:


It seems to me
You are lacking a head with functional brain

Boring show me the picture of your brothers getting gunned down or how about the one getting hung in asia living coke boy dreams. My favorite space is the one where your governor blamed everything on Kanu and IPOB. The coward DNA runs strong in them.

Blue3k:


Boring show me the picture of your brothers getting gunned down or how about the one getting hung in asia living coke boy dreams. My favorite space is the one where your governor blamed everything on Kanu and IPOB. The coward DNA runs strong in them.

Afonja
Get behind me ogbeni

In case anyone is wondering the Tax incentive is 30% off corporate income tax.

This is not a Dangote-only issue. There’s an existing tax policy that states that any individual or corporate entity that makes PRE-APPROVED investments in public-owned infrastructure is entitle to make claims on remission of INCOME TAX obligations.