General
Dangote Denies Getting 10-Year Tax Holiday from FG
By Dipo Olowookere
The management of Dangote Group has refuted reports making the rounds that its Chairman, Mr Aliko Dangote, has secured a 10-year tax holiday from the Federal Government after he agreed to rehabilitate the 35km Apapa to Oworonshoki highway end of the Lagos-Ibadan Expressway.
Speaking on Monday at the Ikoyi head office of the firm, the Group Executive Director, Strategy, Portfolio Development and Capital Projects, Dangote Industries Limited, Mr Devakumar Edwin, disclosed that 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.
Mr Edwin described as “painful” reports claiming that Dangote Group has been given 10-year tax holiday by the government.
According to him, the company volunteered to repair the Apapa road at no cost to the Federal Government as part of its Corporate Social Responsibility (CSR) initiative.
He noted that the construction of the Apapa to Oworonshoki long highway would be done at 15 to 25 percent less than the lowest bid.
“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 percent 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,” Mr Edwin said on Monday.
He further explained that the company proposed to the government to reduce 50 percent of the total cost of the road, from its proposed tax, on its first year after completion and 25 percent of the costs respectively for two years from its proposed tax.
“…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 kilometres from Apapa to Oworonshoki?
“We advised the government to go for a competitive bidding and also that we will take it up at a costs 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 instalments 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 added.
It would be recalled that the federal government said it would give tax relief to private sectors that invest in road construction in the country.
Speaking at the Road Construction Summit 2017 organised by Lafarge and Business Day at the weekend in Lagos, the Minister of Power, Works and Housing, Mr Babatunde Fashola said that there are a lot of possibilities that lie ahead when private capital comes into road construction under the tax relief order as proposed to be amended and complements government spending.
According to him, the government has just concluded an agreement using the 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.
Also, he said the government has signed an agreement with NLNG to construct the Bodo-Bonny Bridge at the cost of N120.6 billion with NLNG and federal government sharing the cost.
“We have identified 28 toll plazas out of the old toll plazas, on roads where construction work is currently going on, at which we propose to restore toll plazas.
“We have also concluded traffic surveys on 51 major highways and now have current traffic data on these roads and we can project vehicular traffic movement for tolling and concession purposes,” Mr Fashola said.
Going by the recent second quarter GDP report, the Minister said, “With respect to construction and related activities, GDP in the sector had been negative since Q2 2015, but turned positive for the first time in Q1 2017 growing by 0.15 per cent and continued to positive growth into Q2 2017 by growing by 0.13 per cent. The reversal in construction has to do with civil works especially due to FGN capital expenditure.”
Chairman, Lafarge Africa, Mr Mobolaji Balogun noted that with the federal and respective state governments grappling with dwindling resources, it has become crucial that the ecosystem of public and private sector players brainstorm on issues of funding, partnerships, design, and quality of roads in Nigeria, as for sure government can no longer do it alone.
By Adedapo Adesanya
Three African subsidiaries of global advisory firm, PricewaterhouseCoopers (PwC), have been debarred by the World Bank Group for 21 months after being found guilty of manipulating procurement processes for a major cross-border electricity project.
In a statement on Wednesday, the Washington-based multilateral lender said PricewaterhouseCoopers Associates Africa Ltd, based in Mauritius, along with its Kenyan and Rwandan affiliates, engaged in “collusive and fraudulent practices” linked to the Eastern Electricity Highway Project, a flagship initiative to transmit hydropower from Ethiopia to Kenya.
The decision sidelines PwC from lucrative World Bank-funded projects on the continent, dealing a blow to one of the region’s most influential audit and advisory firms.
This development could reshape competition for high-value consulting work across emerging markets, potentially disrupting startups and tech firms reliant on World Bank funding, as scrutiny over governance and compliance tightens.
The World Bank, through its private sector arm, International Finance Corporation (IFC), offers grants and low-interest loans to startups across emerging markets.
Earlier this week, the IFC committed $20 million to invest in high-growth startups in Kenya, Nigeria, and South Africa.
“The debarment makes PwC Associates, PwC Kenya, PwC Rwanda, and any affiliates they control ineligible to participate in Bank Group-financed projects and operations,” the World Bank said. “It is part of a settlement agreement under which the three companies admit culpability for sanctionable practices.”
The determination was based on the company’s conduct between 2019 and the award of contracts for consultancy services and asset valuation work for the Ethiopian state power utilities.
According to the World Bank statement, the firm obtained confidential procurement documents to improperly influence the award of a contract for the implementation of International Financial Reporting Standards at the Ethiopian Electric Power Corporation.
They also attempted to steer a separate contract for a fixed asset inventory and revaluation for the power utility towards PwC Associates. During the bidding and execution of that contract, the bank found that the company misrepresented the availability and qualifications of key experts and failed to disclose the full list of subconsultants involved.
According to the World Bank, the debarment is shorter than would otherwise apply because PwC admitted misconduct. The advisory firm also agreed to a series of remedial measures, including internal investigations, disciplinary action against responsible staff, terminating relationships with all subconsultants involved, and additional staff training.
By Aduragbemi Omiyale
A Federal High Court in Warri, Delta State, has affirmed the right of Nigerians to film personnel of the Nigeria Police Force (NPF) on duty.
The judgment was given by Justice H. A. Nganjiwa on Tuesday in a case filed by Mr Maxwell Uwaifo in suit number FHC/WR/CS/87/2025.
The court held that Nigerians have the constitutional right to use any device to record police officers executing their official duties in public.
It was ruled that police officers must wear visible name tags, display their force numbers, and must not harass, intimidate, arrest, or seize devices from citizens documenting their activities.
The court awarded the applicant N5 million in damages for the violation of his fundamental rights and N2 million for the cost of litigation.
Business Post reports that the respondents in the case were the Inspector General of Police (IGP), the NPF, the Police Service Commission (PSC), and the Attorney-General of the Federation (AGF).
The lawyer filed the case in accordance with Sections 34, 35, 36, 37, 38, 39, 40, and 41 of the Constitution of Nigeria and others.
“This judgement has significant implications for policing standards, civil liberties, and public accountability across Nigeria,” Mr Uwaifo said after the judgement.
By Aduragbemi Omiyale
The General Manager in charge of Transmission for Lagos Region of the Transmission Company of Nigeria (TCN), Mr Adeshina Adeonipekun, has stressed the critical role of Lagos in the national grid.
While receiving the chief executive of Eko Electricity Distribution Company (EKEDC), Ms Wola Joseph Condotti, at his office on Monday, he said the Lagos region accounts for about 30 per cent of total power off-take in Nigeria.
He stated that TCN was implementing strategic expansion and project upgrades aimed at enhancing grid stability and operational efficiency in response to rising demand.
Mr Adeonipekun highlighted recent key milestones achieved in the region, including the commissioning of a 100MVA power transformer at the Ijora 132/33kV Transmission Substation, a 300MVA transformer at the Lekki 330/132kV Transmission Substation, and a 125MVA unit at the Agbara 132/33kV Substation, among others.
According to him, these additions have further increased the region’s installed capacity to 5,470MVA on the 132/33kV network and 4,110MVA on the 330/132kV network.
He further said that there were several ongoing rehabilitations at key substations within the region, including Amuwo GIS, Akoka 132/33kV, and Itire 132/33kV Transmission Substations, all geared towards further improving reliability, reducing system constraints, and enhancing the overall efficiency of power delivery.
In her remarks, Ms Condotti expressed appreciation for TCN’s continued partnership and support, underscoring the importance of sustained collaboration between transmission and distribution companies in building a more stable and efficient electricity transmission and supply network.
Both parties explored ways to strengthen collaboration and ensure a more stable and efficient power supply in Lagos, the nation’s commercial hub.
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