Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited disclosed on Thursday that the company will provide an additional N1 trillion to fund road projects. He made this known in a video clip circulated online during his official tour of the ongoing construction of the Agbara-Badagry road project, which is part of the 21 federal roads being funded by the NNPC.
Kyari said, “We are doing 1,800km across the country. We are taking another set of over N1tn of investments in road infrastructure in the country. We believe that this tax credit system which Mr. President has put in place is the game changer for our country.
“We believe that in the next 24 months, there will be a massive change to the entire road network in this country and this is why the NNPC is your company and working for all of us.
“We think that it is the best way to intervene and bring up our infrastructure. We are adding another set of cash, we have not reached the final numbers, but I know it is over N1tn”.
In 2021, NNPC announced its plan to fund the reconstruction of road projects nationwide with the view of easing the transportation of petroleum products.
NNPC partnered with the Federal Inland Revenue Service (FIRS) and the Federal Ministry of Works and Housing to implement the road reconstruction projects.
