FEC approves N169bn private sector investment for road infrastructure | TheCable

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The federal executive council (FEC) has approved the N169 billion private sector investments for road infrastructure through the government’s tax credit programme. The council gave approval on Wednesday in a

May 18, 2022 7:18 PM

Babatunde Fashola, minister of works and housing, who spoke to journalists, said the Programme was initiated in 2019 through executive order seven signed by the president. “The second road which is also the tax credit scheme, which was approved by the council is actually three roads. The applicant, in this case, is Mainstream Energy Solutions, a major energy player in the country is now seeking to also participate in this policy by investing a total of N74,486,577, 050,” he said.

He said the council also approved , the upward review of the original contract sum in respect of the construction of 232 kilometers Yola, Song, Gombe, Mubi, Gulako 132 KV double circuit transmission line from $16 million, plus N1.248 billion to $16.698 billion, plus N2,337,643,640.

 

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