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NNPC earmarks N621bn for road rehabilitation

Nigerian National Petroleum Corporation has earmarked N621bn to be spent on rehabilitating some selected federal roads, in order to sustain a smooth supply and distribution of petroleum products across the country.

Recall, the Corporation had expressed interest to invest in the reconstruction of selected federal roads while urging the Petroleum Tanker Drivers Branch of the Nigeria Union of Petroleum & Natural Gas Workers (NUPENG) to shelve their planned strike action.

The Corporation had planned to carry out the rehabilitation exercise under the Federal government tax credit scheme in alignment with the President’s executive order 7.

The PTD/NUPENG and NARTO have explained in a communique issued at the end of the critical stakeholders engagement meeting, that the roads identified for rehabilitation were selected based on the critical routes used for petroleum products transportation.

Read also: OPEC cuts this year’s global oil demand forecast by 160k barrels daily

According to the communique, repairs on the identified will ease the delays and other challenges currently faced by truck drivers in transporting products across the country.

The communique was signed by the National Operations Coordinator, NARTO, Kassim Bataiya; the General Secretary, NUPENG, Olawale Afolabi; the National Chairman, PTD, Salimon Oladiti; the Group Executive Director, Downstream, NNPC, Adeyemi Adetunji; and the Managing Director, Petroleum Products Marketing Company, Isiyaku Abdullahi.

It read, “the plan by the NNPC to finance the rehabilitation of some critical roads through the Road Infrastructure Tax Credit scheme, in collaboration with the Federal Ministry of Works and Housing and the Federal Inland Revenue Service, to repair 16 road segments roads at an estimated sum of N621bn.

“The roads identified for rehabilitation are selected based on the critical routes used for petroleum products transportation which will ease the delays and other challenges currently faced by truck drivers in transporting products across the country.

“The projects will be carried out with the governance structure comprising all parties to ensure visibility and effective implementation.”

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