The management of Dangote Group has said it will get a three-year tax holiday after constructing the 35km Apapa-Oworonshoki road.

Devakumar Edwin, an executive director in the company, made this known in a statement shared with TheCable on Tuesday.

Edwin said “the company has never benefited any tax waivers or credits in its entire history except when it is industry based and same applies to all industry players.

“It is very painful when some people accuse our company of benefitting 10 years’ tax rebate from the government. There is nothing like tax credit in all these.

“We volunteered to construct the Apapa to Oworonshoki long highway at a cost that will be about 15 to 25% less than the lowest bid on the road.

“We hope to get back our money after three years by removing the sum from the tax we are supposed to pay.”

He explained that the company proposed to the government to take out 50% of the total cost of the road from its proposed tax in the first year after completion and 25% in each of the next two years.

“The government came forward and said, good enough your company is repairing a road that is very important to all Nigerians… is it possible to help us do proper road construction of 35 kilometers from Apapa to Oworonshoki?

“We advised the government to go for a competitive bidding and also that we will take it up at a cost that will be lower than the lowest bid received by the government.

“Since the government may not be handy with cash, we proposed that we will recover our money over three years in installments against our future tax.

“The reality is the government will not pay us for the construction, but we will only offset our costs against our three years tax.”

He explained that the company volunteered to repair the Apapa road as part of its corporate social responsibility initiative and that the construction would be carried out at 15-25% lesser than the lowest bid.

The federal government had said it would use tax incentive order to hand over the Apapa area comprising Creek Road, Liverpool Road, Marine Beach to Mile 2, Oshodi, Oworonshoki to the Lagos end of the Toll Gate on the Ibadan Expressway to Dangote Group.

Credit:
TheCable

Source:
http://www.autoreportng.com/2017/10/dangote-to-get-3-year-tax-relief-after.html

Its a season of tax relief in Nigeria..

Read more here..

http://www.autoreportng.com/2017/10/dangote-to-get-3-year-tax-relief-after.html

No be his trucks de spoil all roads in Nigeria

emmie14:
No be his trucks de spoil all roads in Nigeria

yes oh

Good

we made front page at last....

Nice one. Good biz man

emmie14:
No be his trucks de spoil all roads in Nigeria

Spoil & jam pple beyong repair

He deserves it even if he gets 7years tax relief... That particular road is a shame to Nigeria

Dangote is getting his payback for bankrolling buhari's campaign

He tried but i must say the roads his trucks have damaged nd the pple his trucks have killed ehn you go fear

As if a large portion of the road has not been reconstructed under GEJ

He should fix all the roads in the south east especially abakaliki because his trailer is always having accident there.

More private businesses should be encouraged to do this

Government said 10 years, the other party is claiming it is 3 years. I think the 3 years is okay and a good way to fund road construction in Nigeria. If the government is sincere and trustworthy I believe they are a lot of companies that will like to partner with the government to fix our infrastructural projects in this way.

Considering doing a roof parapet?
check out price comparison between a concrete cast in suite against polystyrene parapet.
Polystyrene parapet is light weight and doesn't have much impact on the land.
excellent usage on swampy environment.
click below for more details.

https://www.nairaland.com/3726763/alternative-building-material-expanded-polystyrene/4

Make brain.

asdfjklhaha:
H

tobtap:

asdfjklhaha:
H

Una do well


First let's know how much is Dangote's tax for three years and how much it will cost to construct the road...


Then we go know who go give each other change....

Shey d guy dey pay tax before ni?

AutoReportNG:
The management of Dangote Group has said it will get a three-year tax holiday after constructing the 35km Apapa-Oworonshoki road.

Devakumar Edwin, an executive director in the company, made this known in a statement shared with TheCable on Tuesday.

Edwin said “the company has never benefited any tax waivers or credits in its entire history except when it is industry based and same applies to all industry players.

“It is very painful when some people accuse our company of benefitting 10 years’ tax rebate from the government. There is nothing like tax credit in all these.

“We volunteered to construct the Apapa to Oworonshoki long highway at a cost that will be about 15 to 25% less than the lowest bid on the road.

“We hope to get back our money after three years by removing the sum from the tax we are supposed to pay.”

He explained that the company proposed to the government to take out 50% of the total cost of the road from its proposed tax in the first year after completion and 25% in each of the next two years.

“The government came forward and said, good enough your company is repairing a road that is very important to all Nigerians… is it possible to help us do proper road construction of 35 kilometers from Apapa to Oworonshoki?

“We advised the government to go for a competitive bidding and also that we will take it up at a cost that will be lower than the lowest bid received by the government.

“Since the government may not be handy with cash, we proposed that we will recover our money over three years in installments against our future tax.

“The reality is the government will not pay us for the construction, but we will only offset our costs against our three years tax.”

He explained that the company volunteered to repair the Apapa road as part of its corporate social responsibility initiative and that the construction would be carried out at 15-25% lesser than the lowest bid.

The federal government had said it would use tax incentive order to hand over the Apapa area comprising Creek Road, Liverpool Road, Marine Beach to Mile 2, Oshodi, Oworonshoki to the Lagos end of the Toll Gate on the Ibadan Expressway to Dangote Group.

Credit:
TheCable

Source:
http://www.autoreportng.com/2017/10/dangote-to-get-3-year-tax-relief-after.html

You never finish airways and barracks end of the road

Why should a government abdicate her responsibility?

.

The road wey government suppose construct go to private individual wey nor dey pay tax in the first place?

Nigerians are truly fantastically-corrupt!
Northerner go construct road for South-West to gain tax credit?
Or KICK-BACK?

When last did DANGOTE pay TAX in Nigeria?

Mtchewww

This has Carlos slim saga written all over it

In as much as I commend him for the gesture, I also think that his long vehicles alone to a greater extent contributed to the damage of that road

Other Nigerians who do humanitarian assistance dont get tax waiver.So why will dangote case be different?His fleet of Trucks causes more damages and accidents to the roads.

They should not just Stop There oooooo... Cus Even other Major Roads Make dem fllw do cuz na him truck spoil dem. See The road from Benin to Ekpoma and Auchi... its as die n dead finish...

Seems like none of the FG s think they should be the ones constructing and maintaining major roadways. .. a most basic infrastructure.... but they are the ones that be often shouting about "international best practices". It is best for Dangote to build all the roads... he has the cement. .. and will build it to withstand his heavy trucks.

bunch of hypocrites. the mess called kabba/lokoja road is there unattended too, and he is getting a heroic call out in lag. smh!

Dangote, pls come to kogi state, there is no road in kogi. We are ready to give you 20 years tax holiday if you can fix our roads