NNPC takes over reconstruction of 21 federal roads in six geopolitical zones of Nigeria, to spend N621.2bn

The Nigerian National Petroleum Corporation, NNPC, has taken over the reconstruction of 21 federal roads which will cost it N621.2bn, across the six geopolitical zones of the country.

The approval was given on Wednesday, at the Federal Executive Council, FEC, meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

Briefing State House correspondents at the end of the council meeting, the Minister of Works and Housing, Mr Babatunde Fashola, SAN, said the selected 21 roads are 1804.6 kilometres.

He said nine of the selected projects are in North Central, three in North East, two in North West, two in South East, three in South-South, and two in South West.

The Minister said it was a strategic intervention under the Federal Government Road Infrastructure and Refreshment Tax Credit Scheme.

He explained that it was under Executive Order 7 that allows the private sector to deploy in advance the taxes they would pay for infrastructure development.