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Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors (23238 Views)

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Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by JimohMomoh: 5:30pm On Jun 10
HisMajesty1:
If Lagos-Badagry road is not of topmost priority to him then I don't know which other road in Lagos would.

You are learned. God bless you.
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by 9jaRealist: 5:33pm On Jun 10
allsaint2000:
You are right. It is 3 years, not 10. But I thing you were wrong, it is not a tax credit. but a tax-holiday.

https://www.thecable.ng/dangote-get-3-year-tax-relief-apapa-oworonshoki-road

The article seems merely a case of POOR reporting...
The colloquial language employed is in direct CONTRAST to the substance.

Starting from your last underlined paragraph, and going on for the next 6 paragraphs...
Every uttered sentence indicates a CREDIT against tax liability (hence a tax credit), rather than a holiday.

A tax holiday means there will be no tax liability accrued at all...
While a tax credit means that tax liability will accrue but will be OFFSET against the value of the project.
>

1 Like

Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by ceasare: 5:39pm On Jun 10
HisMajesty1:
If Lagos-Badagry road is not of topmost priority to him then I don't know which other road in Lagos would.

The FG is joking if Lagos badagry is no fear to their heart!!! It's a shame that from some to Lome to Accra to Abidjan u will never see d eyesore of a road u will see from some to Lagos.yet u keep Wondering if truly their is a govt in Nigeria both local n federal....that road is living hell no country has such.shame on bihari ambidextrous,fashola,tinubu and all ministers of Lagos descent their are all complete dissident

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Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by 9jaRealist: 5:43pm On Jun 10
https://www.thecable.ng/dangote-get-3-year-tax-relief-apapa-oworonshoki-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.

All of the highlighted are evidence/characteristics of a tax CREDIT....
Which is not surprising since Executive Order No. 07 only provides for tax credit.
>
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by bionixs: 5:46pm On Jun 10
sophia990:
Nice one
nice
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by 9jaRealist: 5:56pm On Jun 10
HisMajesty1:
If Lagos-Badagry road is not of topmost priority to him then I don't know which other road in Lagos would.
ceasare:


The FG is joking if Lagos badagry is no fear to their heart!!! It's a shame that from some to Lome to Accra to Abidjan u will never see d eyesore of a road u will see from some to Lagos.yet u keep Wondering if truly their is a govt in Nigeria both local n federal....that road is living hell no country has such.shame on bihari ambidextrous,fashola,tinubu and all ministers of Lagos descent their are all complete dissident

The federal government approved a contract of over N63 billion in October last year (2018) for the reconstruction/expansion of the Badagry Expressway, specifically the 46 kilometres stretch of the road from Agbara-Badagry-Seme Border. Of course, the reconstruction of the section from Eric Moore to Okokomaiko is already being carried out by the Lagos State Government. In February, the project contractors GCC Nigeria mobilized to site. The Agbara to Badagry section will be expanded, while Badagry to Seme border will only be reconstructed.
>
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by ceasare: 6:09pm On Jun 10
9jaRealist:



The federal government approved a contract of over N63 billion in October last year (2018) for the reconstruction/expansion of the Badagry Expressway, specifically the 46 kilometres stretch of the road from Agbara-Badagry-Seme Border. Of course, the reconstruction of the section from Eric Moore to Okokomaiko is already being carried out by the Lagos State Government. In February, the project contractors GCC Nigeria mobilized to site. The Agbara to Badagry section will be expanded, while Badagry to Seme border will only be reconstructed.
>

Right now the contractors are not on d agbara send route.b4 d elections they were active immediately after elections they left site.i ply badagry route almost every fortnight....d alakija-agbara axis as of today June 11th 2019 is a nightmare.

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Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by 9jaRealist: 6:12pm On Jun 10
ceasare:

Right now the contractors are not on d agbara send route.b4 d elections they were active immediately after elections they left site.i ply badagry route almost every fortnight....d alakija-agbara axis as of today June 11th 2019 is a nightmare.

That's unfortunate... embarassed
I hope they come back soon.
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by KB9ice(m): 6:34pm On Jun 10
HisMajesty1:
If Lagos-Badagry road is not of topmost priority to him then I don't know which other road in Lagos would.
Thank you my brother

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Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by allsaint2000: 6:43pm On Jun 10
9jaRealist:


The article seems merely a case of POOR reporting...
The colloquial language employed is in direct CONTRAST to the substance.

Starting from your last underlined paragraph, and going on for the next 6 paragraphs...
Every uttered sentence indicates a CREDIT against tax liability (hence a tax credit), rather than a holiday.

A tax holiday means there will be no tax liability accrued at all...
While a tax credit means that tax liability will accrue but will be OFFSET against the value of the project.
>


I see your point. However, this definition I googled seems to oppose your point that a tax-holiday is a TOTAL exception from tax.

1 Like

Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by ceasare: 6:45pm On Jun 10
9jaRealist:


That's unfortunate... embarassed
I hope they come back soon.

We hope it's not anoda season film been played by d bihari led fed govt

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Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by Amashian: 7:15pm On Jun 10
so badagry expressway is not among his top priority

1 Like 1 Share

Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by Earthquake2: 7:26pm On Jun 10
VillagePipu:


Your father is tapping palmwine in Abakaliki, your mother is licking moinmoin leaf like a baby goat. You are here advertising your ancestral foolishness.

Since you and your mediocre ancestors were dumped here on earth, has your generation of nonentities managed to produce a single SAN?

Osinbajo is an SAN, his brother is an SAN. His wife's grandfather is an SAN. Your father is fighting for Tradermoni and you're here disgracing your ancestors and advertising your eternal stupidity.

Lalasticlala Seun Mynd44 rule 2
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by VillagePipu: 7:44pm On Jun 10
Earthquake2:


Lalasa SeuMyn4 rule 2

You forgot to tag Ikpeazu sharing kerosene in Abia and Ikuku the son of TA Orji that would flog sense into your elders at home.
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by 9jaRealist: 7:59pm On Jun 10
allsaint2000:

I see your point. However, this definition I googled seems to oppose your point that a tax-holiday is a TOTAL exception from tax.

It is usually a TOTAL tax exception for the period of the holiday, not forever...
For instance, the GSM companies enjoyed a 10-year tax holiday and are now paying taxes after the 10-year period.

The distinction with a tax credit is that you are only getting an offset up to the value of the (in this case) project cost...
Accordingly, if during (not after) the period of the credit, your tax liability exceeds the value of the project, you pay the excess liability.
>
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by citizenY(m): 8:14pm On Jun 10
VillagePipu:


Your father is tapping palmwine in Abakaliki, your mother is licking moinmoin leaf like a baby goat. You are here advertising your ancestral foolishness.

Since you and your mediocre ancestors were dumped here on earth, has your generation of nonentities managed to produce a single SAN?

Osinbajo is an SAN, his brother is an SAN. His wife's grandfather is an SAN. Your father is fighting for Tradermoni and you're here disgracing your ancestors and advertising your eternal stupidity.



E don do. Please do not join him in the gutter. I know it i s hard, but please.
Re: Yemi Osinbajo: 3 Lagos Road Projects He's Passionate About & The Contractors by ofwest47(m): 7:18am On Jun 11
Weldone Mr. V P.

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