FG Approves ₦309bn For Federal Road Contract
The Federal Executive Council has approved the sum of ₦309.9 billion for road contracts which will be handled by the Dangote Group.
The Minister of Works and Housing, Babatunde Fashola, told a media briefing after the council meeting on Wednesday that five road projects totalling 274.9 kilometers of federal road under the Federal Government Road Infrastructure Tax Credit Policy will be advanced by the Dangote industries as tax credit.
He explained that the move is also part of the government’s multiple funding options with the private sector.
The roads are located between Bama and Banke in Borno State, the Nnamdi Azikiwe road in Kaduna State and the Deep Sea Port access road, sections one and three in Lagos State through the Epe to Sagamu expressway.
Fashola disclosed that this is the largest single award of concrete roads undertaken by the Nigerian government.
The council equally approved the formalisation of police special services unit operated through a private-public partnership and enabled tarriffs and billing schemes to tap revenues and block leakages.