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NNPC mulls rebuilding roads under tax credit scheme

Access Bank
The Nigerian National Petroleum Corporation (NNPC) started its week with an engagement with critical stakeholders in a bid to find lasting solutions to the road network challenges and other lingering issues.

Group Managing Director of the NNPC, Mele Kyari while engaging the stakeholders said the move was a follow-up to the corporation’s efforts in sustaining the current smooth supply and distribution of petroleum products nationwide, especially during the festive period and beyond.

It would be recalled that following NNPC’s intervention last weekend, the Petroleum Tanker Drivers (PTD) Branch of the Nigerian Union of Petroleum & Natural Gas Workers (NUPENG) called off a planned strike.

The union accepted the dialogue option proposed by the Corporation, a development that has sustained smooth supply and distribution of petroleum products nationwide.

The meeting was attended by stakeholders including the NNPC, the Petroleum Tanker Drivers (PTD), the National Association of Road Transport Owners (NARTO), Department of Petroleum Resources (DPR) and Federal Ministry of Works.

Others at the meeting are the Federal Inland Revenue Service (FIRS), Department of State Services (DSS), Federal Road Safety Corps (FRSC) and Nigerian Union of Petroleum & Natural Gas Workers (NUPENG).

During the meeting, the NNPC CEO said that stakeholders have agreed on a framework that would enable 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,” Kyari stated.

Established under FG’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 agreed to enforce mandatory installation of safety valves in all petroleum product trucks in the country effective February 1, 2022.

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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