FG Gives Dangote Cement, NLNG Tax Credit Certificates

Dangote Cement NLNG Tax Credit Certificate

By Dipo Olowookere

Federal government on Tuesday handed over the first batch of tax credit certificates to the managements of Dangote Cement plc and Nigeria LNG Limited (NLNG).

The certificates were presented to the companies in line with Executive Order #007 on the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

Business Post recalls that on January 25, 2019, President Muhammadu Buhari launched the scheme under Executive Order #007 pursuant to which he approved the construction and rehabilitation of 19 Nigerian roads and bridges of 794.4km across 11 States.

The scheme is a move by the federal government of Nigeria to incentivize private investment of over N205 billion into critical roads and bridges infrastructure, nationwide.

At the presentation ceremony today at the Ministry of Finance, Budget and National Planning in Abuja, the Permanent Secretary Finance, Mr Mahmud Isa-Dutse, commended the two firms for supporting government to bridge the infrastructural deficit in the country.

The Federal Inland Revenue Service (FIRS) issued a tax credit certificate to NLNG for the construction of the Bonny Bodo Road with bridges across the Opobo Channel in Rivers State.

Dangote Cement PLC got its for the rehabilitation of Phase II of the Lokoja-Obajana-Kabba-Ilorin Road (Section II: Obajana-Kabba in Kogi/Kwara States).

Present at the ceremony were senior management staff of NLNG, Dangote Cement, ministry officials and Special Advisers to the Minister, Mrs Zainab Ahmed.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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