NNPCL Halts Tax Credit Road Funding, Government Vows Completion of Projects
The Nigerian National Petroleum Company Limited (NNPCL) has ceased funding its tax credit road projects nationwide, the Minister of Works, Dave Umahi, has disclosed.
Umahi spoke on Tuesday during an inspection of the ongoing dualisation of the East-West Road (Section IIIA), stretching from Eleme Junction to Onne Junction in Port Harcourt, Rivers State.
He said President Bola Ahmed Tinubu had directed the Ministry of Works to ensure that all inherited NNPCL tax credit projects are completed.
The minister added that all contracts valued below N20 billion under Federal Government-funded projects would be awarded to local contractors, in line with the administration’s “Nigeria First” policy.
Umahi’s spokesperson, Orji Uchenna Orji, said the government would prioritise projects deemed critical to the national economic corridor.
“While NNPCL has stopped funding these projects, we have compiled all inherited tax credit projects and presented them to the President, who directed that none should be halted. Our focus will be on prioritising the most critical projects,” the statement read.
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