The Vice President, speaking at a webinar on Public-private Partnerships, organized by the Law firm of Yusuf O. Ali & Co in collaboration with the Business Law Department of the Faculty of Law, University of Ilorin, said the government had in 2017, introduced the Road Trust Fund (RTF).
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Firms partnering with the Federal government to build roads under Public Private Partnership’s (PPP) arrangements are to enjoy 50 percent tax rebate as part of the 2017 Road Trust Fund (RTF).

The fund is a tax credit scheme to incentivize private sector participation, which was reinforced in the Executive Order No. 007 of 2019, the Companies Income Tax (Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme).

Vice President Yemi Osinbajo who disclosed this on Tuesday, stated that the cost-effective measures, embarked upon by the Buhari administration is now delivering 19 road projects across the six geopolitical zones in the country totalling 780.15 km.

Dangote Industries Limited, the Nigerian Liquefied Natural Gas Limited, and others are currently undertaking the construction of the roads which are in advanced stages of completion

The reconstruction of Apapa-oshodi-oworonshoki-ojota Road in Lagos State (34 km) and the Obajana-Kabba Road in Kogi State (43km) are being undertaken by Dangote Industries Limited, while the construction of 38km Bodo-bonny Road and Bridges across Opobo Channel in Rivers State, is being handled by the Nigerian Liquefied Natural Gas Limited.

The Vice President, speaking at a webinar on Public-private Partnerships, organized by the Law firm of Yusuf O. Ali & Co in collaboration with the Business Law Department of the Faculty of Law, University of Ilorin, said the government had in 2017, introduced the Road Trust Fund (RTF).

“The fund is a tax credit scheme to incentivize private sector participation in the development of federal road infrastructure. The relief is enjoyed by a deduction of 50 percent of the amount spent on the project from the income tax that would have been payable by the company.”

The VP also referred to the Executive Order No. 007 of 2019, the Companies Income Tax (Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme), adding that the “objective of the Scheme is to accelerate public road infrastructure development by incentivizing private sector entities to construct and refurbish eligible roads across the country in exchange for tax credits, which could then be applied against company income tax payable,” he stated.

“Nineteen roads have been approved so far by Mr President under the Scheme, totalling, 780.15 km. These roads, in eleven (11) States across the six geo-political zones, are being executed by six (6) private sector players in the manufacturing and construction industries.”

Emphasising the importance of PPPs in funding critical infrastructure projects, the Vice President said: “there can hardly be a better time to explore the use of PPPs especially in the delivery of public infrastructure.”

https://businessday.ng/news/article/dangote-others-to-enjoy-50-tax-rebate-for-constructing-780-15km-roads-osinbajo/

Nigeria makes Dangote rich...

It is nice

clairebode:
Why their business no go boom?

If you go to developed countries, this is what they do. Private organisations through PPP engage in carrying out infrastructural projects.

And our Old aged Pensioners have nothing to enjoy from the govt even after serving her for 35years.......

This Nigeria no just balance even when kept on a scale

The rich keeps getting richer. They get tax rebate and other financial privileges.

The poor keeps getting poorer. They pay full taxes, get swindled, harassed by police, waste time in traffic and are at the receiving end of most ugly government decisions.

Not just here in Nigeria alone, its like that all around the world. That's they way the financial system of the world is designed.

Let's hustle so we too can cross that line between being comfortable to being rich.

Arrrrrrrh

He deserves it since government can't do what they are supposed to do.

Dangote is always pert of any government, either PDP or APC.We all knows are enemies

With the level of embezzlement carried out by the government and the officials, it is even better if the government can be privatised. Every politician in this country has a mindset which is how to divert the public funds except a very few of them.

Dangote roads are world class, we need more of this tax deals to eliminate corrupt contractors

clairebode:
Why Dangote business no go boom? With 50% off tax
I heard he's even buying Dollar at lower rate

Use your money to construct a road to your village and get same 50% cut.

Those roads constructed by dangote are very solid, and it’s durability is not in doubt.

It is a type of policy that developed most countries.

This is the best thing and it will encourage him to embark on many road projects

bioemmy:
The rich keeps getting richer. They get tax rebate and other financial privileges.

The poor pay keeps getting poorer. They pay full taxes, get swindled, harassed by police, waste time in traffic and are at the receiving end of most ugly government decisions.

Not just here in Nigeria alone, its like that all around the world. That's they way the financial system of the world is designed.

Let's hustle so we too can cross that line between being comfortable to being rich.

I couldn't agree more. That is why the poor will continue to be poor until they embrace financial education which has the capacity to transform them into capitalists.

clairebode:
Why Dangote business no go boom? With 50% off tax
I heard he's even buying Dollar at lower rate

Lazy youth, did you read the story at all?

It's surprising that illiterates can read, write and use smartphones, what a wonderful God we serve.

there was a lecture about how nigerians don't know their worth and regularly hand out these very bad ignorant deals because they think the 'investor' is doing them a favor. They do it with China and others. Contrast with Ethiopia that has tight measures and gets more done regardless

personally I like the guy call Dangote.
he perform more than most politicians we have in this country

Baawaa:
Dangote is always pert of any government, either PDP or APC.We all knows are enemies

Please write in pure English. Stop mixing your native language with English language

:Dangote roads are world class, we need more of this tax deals to eliminate corrupt contractors