Home BUSINESS OIL & GAS NNPC Rallies Stakeholders To Rebuild Some Nigerian Roads Under Tax Credit Scheme

NNPC Rallies Stakeholders To Rebuild Some Nigerian Roads Under Tax Credit Scheme

The Nigerian National Petroleum Corporation (NNPC) has rallied critical stakeholders in a move to find lasting solutions to the road network challenges and other lingering issues in the country.
This is part of its effort to sustain the current smooth supply and distribution of petroleum products nationwide within the festive period and beyond.
A statement by the Group General Manager,
Group Public Affairs Division of the NNPC, Garba Deen Muhammad recalled that following NNPC’s intervention over the weekend, the Petroleum Tanker Drivers (PTD) Branch of the Nigeria Union of Petroleum & Natural Gas Workers (NUPENG) called off a planned strike action, agreeing instead to accept the dialogue option proposed by the Corporation.
According to him, such development had sustained smooth supply and distribution of petroleum products nationwide.
The statement said that the Group Managing Director of the Corporation, Mallam Mele Kyari, took a decisive step yesterday, October 12, hosted a major stakeholders’ meeting at the NNPC Towers.
It said that the meeting was attended by the NNPC, the Petroleum Tanker Drivers (PTD), the National Association of Road Transport Owners (NARTO), Department of Petroleum Resources (DPR), Federal Ministry of Works, Federal Inland Revenue Service (FIRS), Department of State Services (DSS), Federal Road Safety Corps (FRSC) and Nigeria Union of Petroleum & Natural Gas Workers (NUPENG).
The statement said that during the meeting, the NNPC boss announced that stakeholders have agreed on a framework for NNPC’s intervention in critical road rehabilitation through the Federal Government Tax Credit Scheme.
“We are committed to utilising the Federal Government’s Tax Credit Scheme to rebuild some of the affected roads in line with Mr. President’s Executive Order 7. Upon our fruitful deliberations today, the NNPC has pledged to support the PTD and NARTO in carrying out quick intervention fixes on some strategic bad spots identified to enable unhindered movement of trucks for transportation of petroleum products nationwide,” Mallam Kyari was quoted to have said.
“Established under the Federal Government’s Executive Order 7 of 2019, the Road Trust Fund Policy/Tax Credit Scheme gives private sector operators an opportunity to fund critical infrastructure with the government.
“Stakeholders also agreed to enforce mandatory installation of safety valves in all petroleum product trucks in the country effective February 1, 2022 with full commitment given by NARTO.
“The meeting also frowned at the abuse of axle load or tonnage limits, with the NNPC agreeing to engage the Nigerian Customs Service for enforcement of preventing the importation of tanks that exceed 45,000 litres capacity.”

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