The Nigerian National Petroleum Corporation (NNPC) has said that it is committed to utilising the Federal Government’s Tax Credit Scheme to rebuild some of the bad roads in the country in line with Mr President’s Executive Order 7.
This, it said, will aid the transportation of petroleum products by trucks across the country.
This was disclosed by the Group Managing Director of the NNPC, Malam Mele Kyari while engaging the stakeholders on Sunday in Abuja.
What NNPC is saying
Kyari said, “Upon our fruitful deliberations, the NNPC has pledged to support the PTD and NARTO in carrying out quick intervention fixes on some strategic bad spots identified to enable unhindered movement of trucks for transportation of petroleum products nationwide.
“The move was a follow-up to the corporation’s efforts in sustaining the current smooth supply and distribution of petroleum products nationwide, especially during the festive period and beyond.”
The meeting was attended by stakeholders including the NNPC, the Petroleum Tanker Drivers (PTD), the National Association of Road Transport Owners (NARTO), Department of Petroleum Resources (DPR) and Federal Ministry of Works.
Others at the meeting are the Federal Inland Revenue Service (FIRS), Department of State Services (DSS), Federal Road Safety Corps (FRSC) and Nigerian Union of Petroleum & Natural Gas Workers (NUPENG).
The NNPC CEO added that stakeholders have agreed on a framework that would enable NNPC’s intervention in critical road rehabilitation through the Federal Government Tax Credit Scheme.
What you should know
Established under FG’s Executive Order 7 of 2019, the Road Trust Fund Policy/Tax Credit Scheme gives private sector operators an opportunity to fund critical infrastructure with the government.
Stakeholders agreed to enforce mandatory installation of safety valves in all petroleum product trucks in the country effective Feb. 1, 2022.
The meeting also frowned at the abuse of axle load or tonnage limits, with the NNPC agreeing to engage the Nigerian Customs Service for enforcement of preventing the importation of tanks that exceed 45,000 litres capacity.
In case you missed it
- Recall that on Saturday, October 10, 2021, NUPENG announced that the tanker drivers would commence strike on Monday over the deplorable state of the nation’s highways and other issues.
- The strike, which would have commenced on Monday, October 11, 2021, was called off due to the intervention of the Federal Government and the NNPC.
- The union accepted the dialogue option proposed by the Corporation, a development that has sustained smooth supply and distribution of petroleum products nationwide.
