Nigerian Government grants Dangote Group 10-year tax incentive

Minister of Power, Works and Housing, Babatunde Fashola with Aliko Dangote. [Photo credit: BellaNaija]
Minister of Power, Works and Housing, Babatunde Fashola with Aliko Dangote. [Photo credit: BellaNaija]

The Nigerian government has granted a 10-year tax incentive to Dangote group for the construction and rehabilitation of roads, Minister of Power, Works and Housing, Babatunde Fashola, has said.

Mr. Fashola made this known while speaking at the Businessday Road Construction Summit, held in Victoria Island, Lagos, on Friday.

Mr. Fashola, who disclosed that construction of the Apapa to Oworonshoki end of the Lagos-Ibadan expressway has been handed over to the company, said the government had approved a review of the five-year limit on tax order enjoyed by the company to 10 years.

“We inherited a tax incentive policy for individuals to benefit from tax remission, to recover investment made in public infrastructure like roads, which other members of the public can utilise,” Mr. Fashola said.

He noted that pending applications from Dangote Group were not approved by the previous administration, which the present administration has now approved and work has commenced on the 42.9 km Obajana – Kabba road in Kogi State.

The government, according to Mr. Fashola, had reviewed, “the five-year limit on that tax order to a 10-year period to sustain private investment in road infrastructure, because it is a long-term asset.”

Similarly, government had reviewed “the order by amending individual investment to include groups of individuals because not all potential investors can individually muster the resources alone but can do so as a group, and recover their pro-rated share.”

The minister disclosed further that the government had also signed an agreement with NLNG to construct the Bodo– Bonny Bridge at the cost of N120.6 billion with NLNG and Federal Government sharing the cost 50-50.

“As for the agreement with Dangote, we are now awaiting the design of the 35 km stretch excluding the portion that has been completed, about 7 km, by the previous administration around Mile 2 area.

“From the design, we will determine the cost and the scope of works which we hope can be executed quickly.

“As this Government promised, we will solve the Apapa and Port congestion problem. I can only tell you that the solution is now on the way,” he said.


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  • Frank Bassey

    “We inherited a tax incentive policy for individuals to benefit from tax
    remission, to recover investment made in public infrastructure like
    roads, which other members of the public can utilise,” Mr. Fashola said.
    SO, WHY HAVE YOU NOT IMPLEMENTED THIS ALL THE TIME, INSTEAD OF LANGUISHING OVER THE HOW GEJ ADMINISTRATION PLUNGED NIGERIA INTO RECESSION.
    NOW, DANGOTE GROUP WILL ENJOY 10-YEAR TAX EXEMPTION; THEY WILL BUILD THE ROAD; COLLECT TOLLS ON THEM; MAKE THEIR PROFIT BEFORE RETURNING IT TO GOVERNMENT. THIS IS HOW TO ENGAGE THE PRIVATE SECTOR. BUT FASHOLA MUST NOT BRAG OVER THIS AS HIS ACHIEVEMENT; HIS VISITS TO THE ROADS, ESPECIALLY LAGOS-BADAN, HAS ACHIEVED NOTHING, EXCEPT TO GENERATE NEWS FOR PRINT AND ELECTRONIC MEDIA.

    • aboki

      I hope you understand TAX INCENTIVES in economic terms and it’s application.
      Do away sentiments and hatred on issues concerning developmental benefits to the nation please.
      Terms does not mean kidnapping business, Arm robbery or baby factory production .
      This type of incentive is common in Europe, Asia and America don’t ridicule your self before the general public please.
      Nigeria we hail thee!

      • Frank Bassey

        Read my story again. I did not condemn the move. I only pointed out Fashola’s hollow attitude. It has nothing to do with your Vice Statistics of the South. As a Lizard Desert, let me give you the following Statistics of the North. Please read it if you have the capacity:
        A GALLOPING REGION
        12 million Nigerian children are out of school. 10 million are from the North
        Kano State alone has 3 million beggars.
        Nigeria has the highest number of young girls suffering from Vesico Vaginal
        Fistula (VVF) in the world. And 90 per cent of those young girls are from the North.
        According to the UNDP 72 per cent of Northern Nigerians are living below the
        poverty line.
        According to UNICEF if Nigeria were to ever break up the core North would be
        the poorest and most barren place on the African continent.
        According to Nasir El Rufai, if the
        north-western zone of the country were to ever find itself on its own it would be poorer and more ravaged by war than Afghanistan.
        According to the World Terror Index Boko Haram and the Fulani militias are the first and fourth “most deadly terrorist organisations in the world” respectively and they both come from Northern Nigeria.
        According to UNESCO 65 million Nigerians, which represents 50 per cent of the total population!) are stark illiterates and 55 million of them are from the north.
        According to UNICEF the heartland and base of pedophiia, child sex, child slavery and child marriage on the African continent is Northern Nigeria.
        According to President Donald Trump of the United States of America “Northern Nigeria is one of the most dangerous places for Christians to live in theworld” and “Christians are murdered there in their thousands every year whilstChurches are blown up and burnt down”.
        According to CNN “the bastion of radical Islam, Islamic terror and Islamic fundamentalism in Africa is Northern Nigeria”.
        According to Governor Yari of Zamfara state, the north has been afflicted
        with all manner of diseases and epidemics, including meningitis, as a consequence of their many sins against Allah.
        According to Acting President Yemi Osinbajo the northern states “have the highest infant and maternal mortality rates in the country, the lowest rate of child enrolment in schools, the highest number of unemployed young people, the highest levels of poverty and faces the challenge of inter-ethic and inter-religious conflict including the Boko Haram terrorism.”

        • aboki

          You very ignorant of NORTHERN NIGERIA and it’s set up
          The north is not barren as you claimed read your Secondary books on geography well and understand vegetations across the region.
          Most of the northerners in S EAST are engaged in manial artisan work like Shoe Shining and Water vendors to mentioned few of such.
          The northerners are contented with what they have as they don’t globe trott, and engaged in Drug Pushing, Prostitution and Forgery.
          Bassey take a reconession survey, there are more IGBO in Northern Nigeria than in the Eastern part of Nigeria.
          Terrorism, Holocaust and genocide is global phenomenon as It’s doesn’t have boundaries in form geography or religion.
          In Rwanda getting to million were killed within 5months,
          Hiroshima and Nagasaki are still in affects and hangover of atomic bombs dropped by the self-aclaim policeman of the world.
          Columbian rebel FARC has there for almost 50years .
          Historically you may not know the activities of Peter the great on his subjects.
          Mr MAN seek knowledge don’t rely on hear say.

          • John A

            Is that all you have to say to counter his post?
            Frank Bassey may be very correct if you can’t prove him otherwise.

          • Frank Bassey

            Dispute any of the FACTS. Show your own FACT. Leave abuse out of it. CONTRADICT THE FACTS.

          • Abdul

            Have you ever been to any state in northern Nigeria sir? If not I would advice you to please pay a visit to any of these states and see for yourself. I was born and brought up in Kano, I really used to be surprised whenever I hear such talks about the north. Why is it that people believe every information they hear in media??

          • Frank Bassey

            “You very ignorant of NORTHERN NIGERIA and it’s set up”.
            “Hiroshima and Nagasaki are still in affects and hangover of atomic bombs dropped by the self-aclaim policeman of the world.
            Columbian rebel FARC has there for almost 50years .”
            GRAMMAR DON GO DAURA-O!

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  • ukoette ibekwe

    Why don’t you guys just give the country to dangote.