NNPC to rebuild roads under tax credit…after NUPENG suspended planned strike

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The Nigerian National Petroleum Corporation (NNPC) says it will rebuild damaged roads under the road infrastructure task credit (RITC) scheme.

Mele Kyari, Group Managing Director of NNPC, made this known during an engagement with stakeholders in Abuja on Tuesday.

The corporation said the engagement is part of efforts to provide lasting solutions to dilapidated roads across Nigeria and sustain the current smooth supply and distribution of petroleum products nationwide.

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The National Union of Petroleum and Natural Gas Workers (NUPENG) recently called off its planned strike action, accepting dialogue option proposed by the corporation.

Kyari said stakeholders agreed on a framework for NNPC’s intervention in critical road rehabilitation through the RITC scheme.

The RITC scheme grants income tax credit to companies and individuals that provide funding for the refurbishment and rehabilitation of roads.

The scheme is a public-private partnership (PPP) intervention that enables the Nigerian government to leverage private sector capital and efficiency for the construction, repair, and maintenance of critical road infrastructure in key economic areas in Nigeria.

“We are committed to utilising the federal government’s tax credit scheme to rebuild some of the affected roads in line with Mr. President’s executive order 7,” Kyari said.

“Upon our fruitful deliberations today, the NNPC has pledged to support the PTD and NARTO in carrying out quick intervention fixes on some strategic bad spots identified to enable unhindered movement of trucks for transportation of petroleum products nationwide.”

The meeting, according to a statement signed by Garba Deen Muhammad, NNPC spokesperson, was attended by the Petroleum Tanker Drivers (PTD), the National Association of Road Transport Owners (NARTO), Department of Petroleum Resources (DPR), federal ministry of works, Federal Inland Revenue Service (FIRS), Department of State Services (DSS), Federal Road Safety Corps (FRSC) and NUPENG.

The NNPC said stakeholders also agreed to enforce mandatory installation of safety valves in all petroleum product trucks in the country effective February 1, 2022, with the full commitment given by NARTO.

The meeting also frowned at the abuse of axle load or tonnage limits, with the NNPC agreeing to engage the Nigerian Customs Service (NCS) for enforcement of preventing the importation of tanks that exceed 45,000 litres capacity.

 

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