FEC approves Dangote’s cement for the construction of Obajana-Kabba road

The Federal Executive Council (FEC) regarding Wednesday attributed the proposal for Dangote Construction Company to use gum to construct a section of the Lokoja- Obajana-Kabba-Ilorin road.

The Minister of Power, Works and Housing, Mr Babatunde Fashola disclosed this even if briefing State House correspondents upon the result of the Federal Executive Council meeting in Abuja.

He said the company would be executing the road project in disagreement for some tax remissions.

The memo presented to council for consideration seeks to take benefits of the existing policy and regulation.

It seeks to take benefits of tax policies, tax laws for the purpose of using them to drive infrastructure development renewal.

So, we presented a proposal by one of the subsidiary of Dangote group, a construction company, for the construction of a section of Lokoja-Obajana-Kabba-Ilorin road.

Specifically, the section between Obajana-Kabba Road using cement as demonstrative of how perhaps we should continue to build, going forward in order to reduce maintenance on the road and the company proposing to fund the construction of that section of the road in exchange for some tax remissions, he said.

According to the minister, companies are ordinarily supposed to pay allowance tax, but there are existing policies in the nations laws which enable running to investigate and manage to pay for taxes incentives.

He, as a result, avowed that the councils commendation for the construction of the section of the road was meant to dwelling the increasing cases of road accidents occasioned by increased unventilated traffic in the place.

So, is a total economy policy which the Council considered and approved because it gives support to industry.

It enables us take benefit of our tax law to renew infrastructure at a time where we are realy challenged for resources to finance all our routes.

It also enables us to save lives by quickly and urgently rebuilding that road so that other commuters who also depend on that road for their livelihood would also benefit from the road, he added.