NNPC Disburses N15 Billion For Reconstruction Of Lagos-Badagry Expressway

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disbursed N15 billion for the restoration of the Lagos Badagry Expressway under the Federal Government Road Infrastructure Tax Credit (RITC) Scheme.

The N15 billion marks a 100% payment of the funds for the rehabilitation of the Lagos–Badagry road under the tax credit funding of NNPC Ltd.

Inspecting the ongoing renovation and expansion of the Lagos-Badagry Expressway (Agbara Junction-Nigeria/Benin Border) with the management team of NNPC and some senior government officials on Thursday, Mele Kyari, the group chief executive of NNPC, made this known.

The NNPC Ltd. is funding the road's repair through the Federal Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

The Federal Ministry of Works and Housing, which serves as the scheme's administrator, and the Federal Inland Revenue Service (FIRS), which handles NNPC's tax responsibilities deductions, are working together to carry out the plan's implementation.

This is in reaction to the difficulty that marketers of petroleum products encounter in the transportation sector, which has an impact on nationwide distribution.

Kyari said the fund disbursed was part of the N621.24 billion earmarked for the reconstruction of 21 roads nationwide under the scheme.

He expressed satisfaction with the stage of road development.

“We are covering 1,804.6mkm across the country and taking another set of over a trillion naira investment on infrastructure in Nigeria, believing that with the tax credit system which Mr President has put in place, very soon there will be massive change.

“NNPC as the enabler will consider its cash flow and fund whatever FIRS and Ministry of works approved for the company.

The NNPC's involvement, according to the Minister of Works and Housing, Babatunde Fashola, who was represented by the Director of the Ministry's Highways, Roads, and Rehabilitation, Folorunsho Esan, has sped up the expressway's reconstruction.

Esan stated that 40% of the project had been finished.

“In the next 12 months we should be able to deliver this project because the drainages are in place, just for earthworks and pavement works, it cannot take us more than 12 months,” he said.

Speaking about the Lagos-Ibadan Expressway project's traffic congestion, he promised that the contractor will remove all roadblocks and leave the area by December 15 so that the highway would be open for the holiday season.

The Federal Ministry of Works engineer overseeing the Lagos-Badagry Expressway project, Olukorede Keisha, provided an overview of the project earlier and listed the drains, culverts, and other construction works completed on various portions.

Before the reconstruction, the road was in awful condition, making traffic for drivers intolerable, according to Oba Israel Okoya, Oba of Ibereko in Badagry Royal Majesty, who praised the Federal Government and NNPC for their involvement.

According to NAN, the NNPC's team had previously examined the dualization of Suleja-Minna Road Phase II and the ongoing restoration of Bida-Lapai-Lambata road in Niger State as part of the inspection of the crucial road infrastructure in major economic zones.

On January 25, 2019, President Muhammadu Buhari issued Executive Order No. 007 on the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, which has a 10-year term from the date it was first issued.