Naomi Gabriel —
Works and Housing Ministry and the Nigerian National Petroleum Corporation (NNPC), yesterday, signed a Memorandum of Understanding, MoU, covering the sum of N621 billion to construct 21 critical roads funded by the NNPC through tax credit.
Babatunde Fashola, the Minister of Works and Housing said the MoU emanates from the Executive Order 7, that ensures compliance to road infrastructure development in the country.
You may also be interested in:
“This is not an order for one person; it is an order for all the Nigerian businesses, Fashola said.
“We are now seeing the oil sector steeping in footedly with over N600 billion to address 21 roads that cover 1,800 kilometers.
“This is really massive; it is the first big show of confidence by NNPC. And we are even seeing them beginning to show interest in the telecom sector and we hope this will carry on as a strategic expansion of private sector interests in contributing to the development of Nigeria.”
The Minister went further to encourage motorists not to exceed the maximum speed limit of 100 kilometers per hour when on highways and travelling for the Christmas and New year celebrations.
“The absolute maximum speed on the federal highways is 100km/h. It is not the minimum, it is the maximum. Motorists are not expected to exceed this speed limit when driving on highways. What this does if when that speed is maintained, when trouble comes, you would be able to put your vehicle under control.
“We appeal to you during this period, please do not exceed the speed limit of 100km/h. And drivers should desist from using their phones while driving.” he said.
The Group Managing Director of NNPC, Mele Kyari, represented by the Group General Manager Corporate Planning and Strategy of the Corporation, Umar Ajiya said it is pleased with partnering with the Federal Ministry of Works and Housing in funding the construction and rehabilitation of a number of roads in the country.
“In our quest to participate in ending insecurity in Nigeria, we are charged with the responsibility of pointing the country to the right direction of national growth and development.
“It is on this note that we find this tax credit a very big step to support the Federal Ministry of Works in funding a number of these roads”, the representative said.