By Ndubuisi Francis
The Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc, tax credit certificates valued at N22.321 billion.
The tax credit certificates were for the construction of Apapa-Oworonshoki-Ojota road in Lagos and the Lokoja-Obajana-Kabba road connecting Kogi and Kwara States.
While Julius Berger is handling the construction of the two federal roads, Dangote Cement Plc is providing the funds.
The credit certificates issued to Dangote is a waiver to cover the tax that Dangote Cement would have paid.
The FIRS’ Executive Chairman, Mr. Muhammad Nami, gave the clarification in Abuja yesterday while presenting the two tax credit certificates to Dangote Cement.
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The Federal government has granted Nigeria Liquefied Natural Gas (NLNG) company ₦20 billion tax waiver for the construction of Bodo Bonny Bridge in Rivers State.
The Federal Inland Revenue Service (FIRS) presented the road infrastructure credit certificate to LNG in Abuja on Thursday.
NLNG has so far received three credit certificates in the last three years valued at ₦46billion. Thursday’s own is the third while the fourth is expected later in the year.
President Muhammadu Buhari signed Executive Order Seven (07) in 2020 authorizing companies that provide critical infrastructure like roads to be granted tax waivers.
The Bodo Bonny Bridge and roads across Okpobo channels in Rivers State were constructed by Julius Berger at a cost of ₦120.681 billion.
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FG grants NLNG N20bn tax waiver
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The Federal government has granted Nigeria Liquefied Natural Gas (NLNG) Company a ₦20 billion tax waiver for the construction of Bodo Bonny Bridge in Rivers State.
Executive Chairman of the Federal Inland Revenue Service (FIRS) Mr. Muhammad Nami, represented by Coordinating Director, Tax Operations Group, Mr. Femi Oluwaniyi, presented the Road Infrastructure Credit Certificate (RICC) to LNG in Abuja, yesterday.
The N20 billion Credit Certificate is NLNG’s third waiver in the last three years, with a total of ₦46billion.
RICC is one of the strategies for mobilizing private sector financing for critical infrastructure, for which President Muhammadu Buhari signed Executive Order Seven (07) in 2020.
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