eflintsone:


its a concrete road plus very thick iron rods beneath it

road to follow to work everyday

Excellent.

It’s nice to read from people of intellect.

Keenmind2019:
Wow good but the real question is why does everyone hate dat dead meat seller. You ppl will now condition some of us to follow in the hate. I refuse to join. Everytime u cancel the dead meat sellers comment.. Ah ah

are you d suya gurl's lawyer?

bukatyne:


We have left vision 2020 to vision 2070

So long as there's a vision, we'll get there.

Something wey agbero go later go dig...i give am 2years max..E go need reconstruction... Np be lagos??

Lynx001:
i saw it as a philantrophic move untill i looked closer. road was pegged at 15billion In 2013. 7ys ago. lets say inflation made the price triple to 45billion. Dangote offers to do the road. Gets 10years tax free window amounting to 72.9 billion. Sharp guy. Is it not better we tell private individuals to take over some sectors. E.g LNG Bonny provides 24hrs light in bonny lga. Extend the light to other part of the state. fg has 45%share In the company. they can tell lng to collect the money they spent from fg 45%. eleme petrochemical work that federal road where ur company is. Collect the money from govt stake in the company. Afterall if they pay tax govt steals it. So y not do govt job and collect the tax. Am nt sure a business man will use his hard earned money and do road and tell the cöntractor to do nönsense. we can always get him. unlike govt that changes every 4yrs

There's NO tax-freedom involved, and the project cost is NOT determined by Dangote....
The road is designed/costed under the FG Public Procurement process, and Dangote Group gets tax CREDIT (not freedom).

A tax CREDIT is a setoff against tax liability of the Dangote Group (in contrast, tax-free means NO tax liability)...
In effect, Dangote Group is ADVANCING funds to the FG which is recovered from tax due (so it's NOT meant to be philanthropic).

Furthermore, under Executive Order 007, which governs the arrangement, the credit is against 3 (not 10) years tax liability...
If the aggregate liability is MORE than cost of the road project, Dangote Group PAYS the difference between the two amounts.

BTW, this arrangement is NOT exclusive to Dangote Group....
It's been entered into with 6 companies (including LaFarge, Nigeria LNG, Unilever, Flour Mills, etc.) covering 19 road projects.
>

Lynx001:
i saw it as a philantrophic move untill i looked closer. road was pegged at 15billion In 2013. 7ys ago. lets say inflation made the price triple to 45billion. Dangote offers to do the road. Gets 10years tax free window amounting to 72.9 billion. Sharp guy. Is it not better we tell private individuals to take over some sectors. E.g LNG Bonny provides 24hrs light in bonny lga. Extend the light to other part of the state. fg has 45%share In the company. they can tell lng to collect the money they spent from fg 45%. eleme petrochemical work that federal road where ur company is. Collect the money from govt stake in the company. Afterall if they pay tax govt steals it. So y not do govt job and collect the tax. Am nt sure a business man will use his hard earned money and do road and tell the cöntractor to do nönsense. we can always get him. unlike govt that changes every 4yrs

The only "10 years window" under Executive Order 007 (titled Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme) is that the project(s) must be executed and the tax credit must be claimed during the 10-year tenure of the Executive Order (2019-2029), but the credit itself is limited to 3 years of actual tax liability (which must be accrued within said 10-year period).
>

Victorex001:
South-South and South-East should be serious about getting their own sea port, a country as big as Nigeria can be depending on only Lagos to bring goods in....That’s partial.

The South-South region has SIX (6) major seaports at Warri, Sapele, Onne (FLT and FOT), Calabar, Port Harcourt, plus terminals at Bonny, Escravos, Okirika and Tumi. In addition, the FG has signed a BOT agreement for a new Warri modern seaport project with the Chinese, as well as the state governments' proposed deep seaport projects at Ibaka (Akwa Ibom) and Bakassi (Cross River).

Meanwhile, it is PRIVATE companies and importers (and their various agents) who determine which ports to use, not the government.
>

Ten years tax free. Does dat include the refinery? After all the forex window by CBN him no go pay tax again? Make dem just change Nigeria name to dangote

Luckybelt:
Can’t FG just permit people to fix Nigerian roads in lieu of tax payment?

That's what Executive Order No. 007 does (see my previous posts above).
>

9jaRealist:


The South-South region has SIX (6) major seaports at Warri, Sapele, Onne (FLT and FOT), Calabar, Port Harcourt, plus terminals at Bonny, Escravos, Okirika and Tumi. In addition, the FG has signed a BOT new Warri modern seaport project with the Chinese, as well as there the state governments' proposed deep seaport projects at Ibaka (Akwa Ibom) and Bakassi (Cross River).

Meanwhile, it is PRIVATE companies and importers (and their various agents) who determine which ports to use, not the government.
>

No Private shit determined to import through Lagos and transport all the way to the South-South and South-East, all other Seaports have not been functioning except news of BOT and reconstruction we keep hearing.

Agboriotejoye:
Ten years tax free. Does dat include the refinery? After all the forex window by CBN him no go pay tax again? Make dem just change Nigeria name to dangote

There's NO tax-freedom involved, and the project cost is NOT determined by Dangote....
The road is designed/costed under the FG Public Procurement process, and Dangote Group gets tax CREDIT (not freedom).

A tax CREDIT is a setoff against tax liability of the Dangote Group (in contrast, tax-free means NO tax liability)...
In effect, Dangote Group is ADVANCING funds to the FG which is recovered from tax due (so it's NOT meant to be philanthropic).

Furthermore, under Executive Order 007, which governs the arrangement, the credit is against 3 (not 10) years tax liability...
If the aggregate liability is MORE than cost of the road project, Dangote Group PAYS the difference between the two amounts.

BTW, this arrangement is NOT exclusive to Dangote Group....
It's been entered into with 6 companies (including LaFarge, Nigeria LNG, Unilever, Flour Mills, etc.) covering 19 road projects.
>

9jaRealist:


There's NO tax-freedom involved, and the project cost is NOT determined by Dangote....
The road is designed/costed under the FG Public Procurement process, and Dangote Group gets tax CREDIT (not freedom).

A tax CREDIT is a setoff against tax liability of the Dangote Group (in contrast, tax-free means NO tax liability)...
In effect, Dangote Group is ADVANCING funds to the FG which is recovered from tax due (so it's NOT meant to be philanthropic).

Furthermore, under Executive Order 007, which governs the arrangement, the credit is against 3 (not 10) years tax liability...
If the aggregate liability is MORE than cost of the road project, Dangote Group PAYS the difference between the two amounts.

BTW, this arrangement is NOT exclusive to Dangote Group....
It's been entered into with 6 companies (including LaFarge, Nigeria LNG, Unilever, Flour Mills, etc.) covering 19 road projects.
>

Be posting grammar. That's not what I asked. Besides the op said 10 years valued at 72.9bn. If you have contrary back up with facts. Don't just expect us to take ur assertion as the gospel.
What I asked initially is if the refinery is also exempted after all the forex windows given to it by CBN. If so, that will be a case of double robbery.
I also don't know how 72bn for a 35km road at 2bn per km is justified to you. The fact that the cost is determined by our corrupt and padi padi FG should raise some concerns for you self.

Victorex001:
No Private shit determined to import through Lagos and transport all the way to the South-South and South-East, all other Seaports have not been functioning except news of BOT and reconstruction we keep hearing.

All Nigerian ports were CONCESSIONED to private operators in 2006...
So if there are not "functioning", it's the likely the fault of the operators.

Meanwhile, yes it is PRIVATE importers who decide which ports to use because the importation of goods are PRIVATE contracts between PRIVATE parties (except for govt projects). Apart from the Onne ports, the COST (logistics, insurance, security, etc.) of importing through the other South-South ports riddled with what has now been classified as the world's most dangerous shipping lanes (characterized by militant and piracy activities), having moved up from the third most dangerous merely a few years, makes importation through the Lagos often the CHEAPEST Nigerian destination.

Even when importers are shipping to a port like Calabar, the cargo would often be shipped first to Lagos and then put in smaller vessels to Calabar (which has a shallow channel). Accordingly, if the final destination is not Calabar, some importers may just prefer to clear their imports in Lagos.
>

Agboriotejoye:

Be posting grammar. That's not what I asked. Besides the op said 10 years valued at 72.9bn. If you have contrary back up with facts. Don't just expect us to take ur assertion as the gospel.
What I asked initially is if the refinery is also exempted after all the forex windows given to it by CBN. If so, that will be a case of double robbery.
I also don't know how 72bn for a 35km road at 2bn per km is justified to you. The fact that the cost is determined by our corrupt and padi padi FG should raise some concerns for you self.

Dude, I already cited the Executive Order (No. 7 of 2019) under which the road is being constructed...

The only "10 years" provision under EO 007 (titled Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme) is that the project(s) must be executed and the tax credit claimed during the 10-year term of the Executive Order (2019-2029), but the credit itself is limited to 3 years actual accrued tax liability (within said 10-year period). These are BASIC FACTS that are PUBLICLY verifiable - not beer parlor rumours!
>

Agboriotejoye:

Be posting grammar. That's not what I asked. Besides the op said 10 years valued at 72.9bn. If you have contrary back up with facts. Don't just expect us to take ur assertion as the gospel.
What I asked initially is if the refinery is also exempted after all the forex windows given to it by CBN. If so, that will be a case of double robbery.
I also don't know how 72bn for a 35km road at 2bn per km is justified to you. The fact that the cost is determined by our corrupt and padi padi FG should raise some concerns for you self.

You mean the forex BOUGHT by the Dangote Group from the official CBN window?

Why else does Nigeria has forex reserves if they are not to be used for economic projects and activities that grow the Nigerian economy? Would you prefer it remain in the vault and every so often unemployed Nigerians would be taken on a tour of the vaults to admire our forex reserves? Or perhaps that they should be used to import champagne and such other luxuries or for foreign vacations, school fees and medical tourism? Perhaps you would prefer that the forex be used to continue to DISGRACEFULLY import petroleum products (that are subsequently subsidized) by a country that is one of the world's leading producers of crude oil, effectively subsidizing foreign refining and logistics businesses and jobs in the process.

So, yes, Dangote BUYS forex from the CBN window (as do so many other Nigerian-based businesses and banks, including multinational corporations). In return for the CBN selling such forex to Dangote and receiving Naira equivalent in return, THOUSANDS OF JOBS are being created IN NIGERIA FOR NIGERIANS (during both construction and operational phases), generating wealth for NIGERIANS and both corporate and income tax revenue for the government to invest in infrastructure, education, healthcare, security and public transportation, among others (to the extent it is not embezzled by politicians), BILLIONS of forex (ultimately more than sold to Dangote) expended for fuel imports will be saved and forex earned from exports!

Why do many Nigerians detest success (while celebrating the failure that surrounds us)? Little wonder Nigeria remains a Third World toilet! SMH
>

9jaRealist:


You mean the forex BOUGHT by the Dangote Group from the official CBN window?

Why else does Nigeria has forex reserves if they are not to be used for economic projects and activities that grow the Nigerian economy? Would you prefer it remain in the vault and every so often unemployed Nigerians would be taken on a tour of the vaults to admire our forex reserves? Or perhaps that they should be used to import champagne and such other luxuries or for foreign vacations, school fees and medical tourism? Perhaps you would prefer that the forex be used to continue to DISGRACEFULLY import petroleum products (that are subsequently subsidized) by a country that is one of the world's leading producers of crude oil, effectively subsidizing foreign refining and logistics businesses and jobs in the process.

So, yes, Dangote BUYS forex from the CBN window (as do so many other Nigerian-based businesses and banks, including multinational corporations). In return for the CBN selling such forex to Dangote and receiving Naira equivalent in return, THOUSANDS OF JOBS are being created IN NIGERIA FOR NIGERIANS (during both construction and operational phases), generating wealth for NIGERIANS and both corporate and income tax revenue for the government to invest in infrastructure, education, healthcare, security and public transportation, among others (to the extent it is not embezzled by politicians), BILLIONS of forex (ultimately more than sold to Dangote) expended for fuel imports will be saved and forex earned from exports!

Why do many Nigerians detest success (while celebrating the failure that surrounds us)? Little wonder Nigeria remains a Third World toilet! SMH
>

I get you. He's saving us from ourselves and therefore deserves worship. But don't you think having benefited from the forex window, giving the refinery a tax holiday would amount to doubling the "blessings"? Let's not forget it's a private business still and according to the company, products will be sold at "international market price" whatever that means. So if we give him forex windows from our reserves and then tax breaks when it comes on, does it not look too steep a price to pay? Why can't we use the same forex to get our refineries working for example?
You also did not respond to the cost of 2bn per km. I'll like to know your thinking on dat

Wow.So it will last longer than Nigeria?

Sunofgod:
STORY...The romans built roads that have lasted 2000 years,

more of foothpath and horses

Lynx001:
i saw it as a philantrophic move untill i looked closer. road was pegged at 15billion In 2013. 7ys ago. lets say inflation made the price triple to 45billion. Dangote offers to do the road. Gets 10years tax free window amounting to 72.9 billion. Sharp guy. Is it not better we tell private individuals to take over some sectors. E.g LNG Bonny provides 24hrs light in bonny lga. Extend the light to other part of the state. fg has 45%share In the company. they can tell lng to collect the money they spent from fg 45%. eleme petrochemical work that federal road where ur company is. Collect the money from govt stake in the company. Afterall if they pay tax govt steals it. So y not do govt job and collect the tax. Am nt sure a business man will use his hard earned money and do road and tell the cöntractor to do nönsense. we can always get him. unlike govt that changes every 4yrs

the tax rebate bill is opened to all companies. Even zenith bank did a road around my area

The thickness of concrete on that road is second to none, that road upon completion will be SOLID!!

Agboriotejoye:
I get you. He's saving us from ourselves and therefore deserves worship. But don't you think having benefited from the forex window, giving the refinery a tax holiday would amount to doubling the "blessings"? Let's not forget it's a private business still and according to the company, products will be sold at "international market price" whatever that means. So if we give him forex windows from our reserves and then tax breaks when it comes on, does it not look too steep a price to pay? Why can't we use the same forex to get our refineries working for example?
You also did not respond to the cost of 2bn per km. I'll like to know your thinking on dat

Childish Strawman's Argument...
Dude, you can "worship" whomever you want - after all many of you are worshipping pastors and cattle rearers.

Meanwhile, on the substantive matter at hand, you are obviously not ashamed that more than 60 years after crude oil was first pumped in Nigeria your governments have spent more in the past few years importing refined products than it would cost to build more than TWO Dangote Refineries (the world's largest single-train refinery) and probably about TEN of the current refineries, in the process effectively 'subsidizing' foreign refining and logistics businesses, while unemployment ravages Nigeria. You are not even ashamed to be calling for yet more forex to be flushed down the drain on the 4 government-owned refineries, on which every so often hundreds of millions of US dollars are voted for TAM and yet they continue to perennially underperform and bleed money. Little wonder cattle rearers rise to the top of the food chain in this country.

Btw, why should the Dangote Refinery not sell its products at "international market prices" if it buys its crude oil feedstock at "international market prices"? Even a roadside Akara seller would not buy his beans, oil and pepper (or whatever else ingredients) at a high price and sell the Akara balls at a lower price. That many Nigerians (including sadly many in the government) cannot get their head around such SIMPLE and BASIC equation boggles the mind. That's why we live in a country where everyone who can afford it (and many who could barely do so) own a generator or otherwise depends on privately-generated electricity (even Aso Rock) because the government insists on an average tariff of N38kw/H for electricity produced at an average of N52kw/H, while the privatized DISCOs are going bankrupt and cannot build the sort of balance sheet to attract equity of debt capital needed for investment to modernize and upgrade Nigeria's mostly antiquated electricity infrastructure.

So gullible Nigerians like you are rejoicing that you only have to pay a nominal average tariff of N38kw/H for electricity instead of "market rates", while spending even much more on diesel fuel and generators to generate your own electricity and suffer the opportunity COST of not being able to run a business or do so many other things dependent on adequate and reliable electricity supply. As for the tax CREDIT, having already explained it in Plain English, I would not bother to do so again. Nonetheless, even if you insist that it is a so-called "tax break", the Refinery will still create THOUSANDS OF NIGERIAN JOBS (in both construction and operational phases), plus indirect subcontracting and other jobs (already Nigerian subcontractors have reported executed subcontracts on the refinery worth about US$370 million, according to The Punch and Vanguard) . Each of these Nigerian jobs and businesses will generate TAX (income and corporate) revenue much higher than the Refinery itself.

Anyway, let me quit "blowing grammar". After all, the cattle rearers you worship do not blow grammar and Nigeria is booming - oh wait!
>

Agboriotejoye:

I get you. He's saving us from ourselves and therefore deserves worship. But don't you think having benefited from the forex window, giving the refinery a tax holiday would amount to doubling the "blessings"? Let's not forget it's a private business still and according to the company, products will be sold at "international market price" whatever that means. So if we give him forex windows from our reserves and then tax breaks when it comes on, does it not look too steep a price to pay? Why can't we use the same forex to get our refineries working for example?
You also did not respond to the cost of 2bn per km. I'll like to know your thinking on dat

See the second line of my INITIAL comment...
>

COMPLETELY RUINED SERVICE LANES OF OSHODI-APAPA EXPRESSWAY COMPLETELY RENDERED UNPASSABLE EVEN TO TRICYCLE RIDERS, LET ALONE MOTORIST. IS THIS REALLY A RESPONSIBLE CONSTRUCTION?..........

DON'T ASSUME DANGOTE HITECH IS COMING TO WORK ON THE SERVICE LANES.

THEIR CONTRACT DOES NOT INCLUDE THE RUINED SECTIONS OF THE SERVICE LANES DESTROYED WHILE ALL TRAFFICK WAS DIVERTED TO IT.

.WITH CONSTRUCTION NOW ONGOING ON CELE-OSHODI AXIS, THESAME WILL BE THE FATE OF THE SERVICE LANES.

WHO WILL FIX OUR SERVICE LANES?........................

itsme01:



the road he is constructing is pure concrete and steel, only few countries like Germany has that unlike asphalt roads

Rigid pavement is quite expensive to construct but more durable and cost so little in maintenance.

The one his company built in Kogi state is solid as a rock.

I think public-private partnership is the way to go

myobjective:


Rigid pavement is quite expensive to construct but more durable and cost so little in maintenance.

The one his company built in Kogi state is solid as a rock.

I think public-private partnership is the way to go

you are right... PPP is the main solution, look at lekki ikoyi bridge, it seems government loves mediocre project while private sector goes for standard

Lagos Ibadan or Abuja- Lokoja given to Dangote with just a toll fee of 300 to passengers would solve the problem FERMA and Ministry of works Budget billions on annually

itsme01:



you are right... PPP is the main solution, look at lekki ikoyi bridge, it seems government loves mediocre project while private sector goes for standard

Lagos Ibadan or Abuja- Lokoja gave to Dangote with just a toll fee of 300 to passengers would solve the problem FERMA and Ministry of works Budget billions on annually

Our problem is lack of political will to drive home some of the reform needed to turn the country around reasons why having people like Fashola in the ministry of work is a welcome development.

Nigeria civil service is one of the most corrupt in the world, ministries where unqualified people are given top jobs due to nepotism, resulting in the total mess we have as FERMA and ministry of work.

The Investor still owns the bus.

EgunMogaji2:


Who owns the bus at the end of 36 months?