Nigeria’s Minister of Works, Dave Umahi, has said the Nigerian National Petroleum Company Limited has stopped funding its tax credit road projects across the country.
Umahi made this known during a project inspection in Port Harcourt, Rivers State, on Tuesday.
However, Umahi stated that President Bola Ahmed Tinubu has given the ministry a marching order to complete all projects inherited from the NNPCL tax credit scheme.
He spoke at the inspection of the ongoing dualisation of the East-West Road (Section IIIA) from Eleme Junction, Port Harcourt, to Onne Junction in Rivers State.
Umahi noted that all contracts worth less than N20 billion under the Federal Government-funded projects would be awarded to local contractors in line with Nigeria’s first policy.
In a statement by Umahi’s spokesperson, Orji Uchenna Orji, the minister said the federal government would prioritise major aspects of the heritage Nigerian National Petroleum Company Limited tax credit projects nationwide.
“Let me say that this is part of the NNPC tax credit that has been stopped in terms of funding by NNPC.
“But graciously, we have compiled all the NNPC inherited tax credit projects, and we presented them as the Ministry of Works to Mr President.
“And Mr President has graciously directed that none of such works should stop now.
“However, as a ministry, we are going to prioritise the projects and look at the most critical of these projects within the national economic corridor, like this one,” he stated.
