NNPC Invests N1.9trillion On Roads Development

The Nigerian National Petroleum Company Limited NNPC has announced that it is investing N1.96 trillion into road infrastructure development via its tax credit scheme intervention.

The company made this known at a meeting with the Minister of Works and Housing, Mr Babatunde Fashola and key stakeholders in Abuja, on Tuesday.

Mr Umar Ajiya, representative of the Group Managing Director, NNPC, Mr Mele Kyari, said the company was committed to funding the critical roads across the country.

The NNPC in 2021 intervened in the first phase of the tax credit scheme with N621.24 billion to rehabilitate and increase the stock of major roads and highways.

“Clearly as you recall we have done phase 1 and funding has been steady, we are now committed to a second phase of N1.9 trillion and we are also committed to setting aside funds to fund the contractors including any necessary mobilisation that could be required.

“What is important for us is that our consultants will have to validate the value for money and the quality of work that you’ve done on these roads.

“I think that our road users alluded to the fact that they have seen extensive quality work being done on the roads that have been assigned during phase 1.

“We want the same quality to be maintained because of execution of the roads under phase 2, and speaking of execution is very important, because the funds are available and therefore there should be no excuses,” Kyari said.