Governor Abdulrazaq wants FG to extend tax credit scheme on Kwara roads

Going by Federal Government’s efforts to invest more in road infrastructure through the Road Infrastructure Tax Credit Scheme (RITCS) launched to convert accumulated taxes of certain companies into road construction funds, Kwara State Government has appealed to Federal Government to extend Federal Roads Construction Coverage to Kwara State.

Kwara State Government made the request based on its geographical location and topography as a Northern Central State that connects many States in the Southwest Region to the North. From Ibadan-Oyo-Ogbomoso-Eyekonrin Road to Igbeti -Ilesa Baruba-Kosubosu-Yashikira-Chikanda Corridor of Badagry-Sokoto Expressway to Ilorin-Omo-Aran-Egbe-Kabba- Lokoja Road, Kwara State has some critical Federal Roads that need quick government attention.

Consequently, Governor Abdulrahman Abdulrazaq of Kwara State on Monday approached the Federal Government and met with the Finance Minister, Zainab Shamsuna Ahmed, to discuss investment programmes and various models to finance infrastructural development in the State, especially inter-state link roads for which Road Infrastructure Tax Credit Scheme (RITCS) is expected to cover within a reasonable time frame.

According to the official statement made available to BusinessDay, Governor Abdulrazaq made a strong pitch for Kwara Stae to benefit from the Federal Government Road Infrastructure Tax Credit Scheme (RITCS) which is covered in the Executive Order 7 of President Muhammadu Buhari in 2019 with a view to attracting investments through provision of critical infrastructure such as roads, rail, among others.

BusinessDay reports that the meeting between Kwara State Governor Abdulrahman Abdulrazaq and Minister of Finance, Budget and National Planning, also focused on attracting more grants, institutional investors, financial opportunities for Kwara State, and allocation of funds for Federal Roads in the state as part of economic indicators that create enabling environment for businesses to thrive.

A press statement released in Ilorin, Kwara State Capital by Rafiu Ajakaye, Chief Press Secretary to the Governor, said the meeting was attended by top government officials, including Permanent Secretary Ministry of Finance Aliyu Ahmed and the Director of International Economic Relations Department of the Ministry, Aisha Omar.