The Federal Executive Council (FEC) has approved the equalisation of the Okpella section of the Lokoja-Benin road and others for N120 billion to be financed by BUA Cement Plc under the tax credit scheme.
The Special Adviser to the President on information and strategy, Bayo Onanuga disclosed this on his official X handle after the FEC meeting which started yesterday.
Mr. Onanuga also disclosed the award of contracts for other road projects across the country which includes Kaima-Tesse, Kwara State, Benin-Agbor, BeninByepass and Ngaski-Wara in Kebbi State which are estimated to cost around N546 billion.
Furthermore, N230 billion was approved as a contract to Messrs CCECC to build a Bypass in Kano. The project was estimated to be completed in the next 36 months.
The Tax credit scheme was birthed through Executive Order 7 of 2019 by former President Muhammadu Buhari which established the Road Infrastructure Development and Refurbishment Tax Credit Scheme Order to last for 10 years from implementation.