The Federal government has approved N22 billion for the reconstruction of Apapa-Oworonshoki-Ojota phase section two under infrastructural tax credit Scheme.
The Minister of Works and Housing, Babatunde Fashola disclosed this when briefing State House correspondents on the outcome of the meeting of the Federal Executive Council (FEC), presided over by President Muhammadu Buhari, in Abuja on Wednesday.
According to Minster of information and culture, Lai Mohammed, who spoke on behalf of Fashola, the contract was awarded to Dangote Group of Companies under infrastructural tax credit Scheme.
He said: “Dangote will construct it and over the years, it will be deducted from the tax payable by the group.
“It’s one of the various means of PPP that the administration has embraced. It’s not only restricted to Oworonshoki-Apapa Road, it is the same system that is being used in Obajana-Kabba road.
“Nigeria Liquidified natural Gas (NLNG) is also using the same formula for the bridge to link Bonny and Boro in River State.”
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