Business

FG Discontinues Tax Credit by Dangote, BUA, MTN … for Roads Infrastructure

As of 2024–2025, the following companies were key participants in the scheme:

Published

7 months ago

February 4, 2026

OCHEFA

373 Views

The federal government has discontinued the use of tax credit by companies for road development.

It was know as Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (Executive Order 007).

The Executive Chairman of Nigeria Revenue Service (NRS), Mr. Zacch Adedeji, disclosed that the system does not follow constitutional tax administration.

Adedeji said, “No matter how good a programme is, the first thing that it must have are good products. The remits of the Nigeria Revenue Service, as it were then or the Federal Inland Revenue Service is to access, to collect and to account “ for taxes.

“Appropriation is not part of the remits of the Nigeria Revenue Service or Federal Inland Revenue Service. So when you give tax credits for roads it is an appropriation act, because you spent the money, but your remit is to collect and give it to the constitutional body that will sign that money. Which is the Federation Account Allocation Committee (FAAC).

And who says that that money is yours? Who says it belongs to your family? Who says it’s not students that will come and work in your factory and want to use it to pay their school fees.”

Another point he raised was that FIRS/NRS lacks the competence to know how a road is constructed, saying, “We lack competence, as Nigerian Revenue Service, because we don’t know how the road is done and that is why we stopped the use of tax credit. Whatever their taxes, let government choose the proper appropriation.”

BACKGROUND

Many major companies in Nigeria have utilised the Federal Government’s Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (Executive Order 007) to finance the construction and rehabilitation of federal roads in exchange for tax credits

As of 2024–2025, the following companies were key participants in the scheme:

Nigerian National Petroleum Company Limited (NNPCL):

As at late 2024, NNPC was one of the largest contributors, financing over 21 road projects covering over 1,800 kilometers. Projects included the Ilorin-Jebba-Mokwa/Bokani Junction Road and the Lagos-Badagry Expressway.

Dangote Group (Dangote Cement Plc):

A prominent participant, having worked on the Apapa-Oshodi-Oworonsoki-Ojota Expressway and the Obajana-Kabba road in Kogi State.

BUA Group (BUA International Limited): Involved in the construction of major roads, including the Bode-Saadu-Lafiagi road, Eyinkorin road and bridge, and the Okura Road, aiming to complete over 500km of roads by 2026.

MTN Nigeria Communications Plc: Engaged in the rehabilitation and reconstruction of the Enugu-Onitsha expressway.

Nigeria LNG Limited (NLNG): Provided funding for the Bodo-Bonny road and bridge project in Rivers State.

Access Bank Plc: Involved in fixing the Oniru axis of the VI-Lekki circulation road in Lagos State.

Mainstream Energy Solutions Limited: Undertaking the construction of the Malando-Garin Baka-Ngwaski road and rehabilitation of the Mokwa-Nasarawa road in Niger State.

GZI Industries: Re-constructing the Umueme village road in Abia State.

Others: Lafarge Africa Plc, Unilever Nigeria Plc, and Flour Mills of Nigeria Plc.

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Business

TCN improves Power Supply to Apapa corridors by additional 208MW

The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.

Published

2 days ago

August 18, 2026

OCHEFA

31 Views

The Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Mr. Sule Ahmed Abdulaziz , says from now Apapa Causeway, Ijora, Amukoko, Ajegunle, Apapa Wharf, Tin Can Island and other major commercial areas, will be having improved power supply.

Abdulaziz made the declaration on Monday during the commission of Ijora and Apapa Road transmission substations in Lagos by additional 208MW .

The project is aimed at improving the volume and reliability of electricity available to distribution companies for onward supply to homes, businesses and industries.

Abdulaziz said that the projects, sponsored by the Japan International Cooperation Agency (JICA) and the World Bank respectively, in partnership with TCN, underscored the Federal Government’s commitment to modernising the transmission network and improving grid stability.

He commended the Ministry of Power, JICA, the Government of Japan, Lagos State Government and other stakeholders for supporting the projects, while appealing for additional grant assistance to upgrade other critical sections of the transmission network.

Speaking at the commissioning, Minister of Power, Mr. Joseph Tegbe, said that the projects were part of the Federal Government’s efforts to address longstanding transmission constraints and infrastructure decay that have limited the country’s ability to fully utilise available generation.

The upgrades increased the Ijora substation’s capacity by 112MW, from 90MVA to 230MVA, following the installation of two new 100MVA transformers.

At Apapa Road, a new Gas Insulated Substation (GIS) added another 96MW, raising the facility’s capacity from 60MVA to 180MVA.

The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.

Business

CBN’s Sidi-Ali wins 2026 overall Spokesperson of the Year Award, courtesy of NSA

Published

2 days ago

August 18, 2026

OCHEFA

36 Views

•Mrs Hakama Sidi Ali.

The Ag. Director of Corporate Communications of the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi-Ali, has won the 2026 edition of the National Spokespersons Award (NSA).

The recognition was announced during the 6th National Spokespersons Awards and the 4th Economic Confidential Annual Lecture, organised by Image Merchants Promotion Limited (IMPR), publishers of PRNigeria, Economic Confidential and Spokespersons Digest, held in Abuja, recently.

The organisers stated: “With the latest honour, Sidi-Ali completed an unprecedented hat-trick at the National Spokespersons Awards, becoming the first communications professional to progress from winning a sector-specific award twice consecutively to claiming the overall Spokesperson of the Year title.