Dangote Group is not aware of any upcoming 10-year-tax holiday arising from its ongoing construction of the 35 kilometre Apapa to Oworonshoki end of the Lagos-Ibadan Expressway

The Group Executive Director, Strategy, Portfolio Development and Capital Projects, Dangote Industries Limited, Devakumar Edwin, said the company has never benefited from any tax waivers or credits in its entire history, except when it is industry-based and when applicable to all its competitors.

Edwin, who spoke yesterday to cross section of journalists in his Ikoyi office, said while the company has volunteered to repair the Apapa road as part of its Corporate Social Responsibility (CSR) at no cost at all to the Federal Government, the construction of Apapa to Oworonshoki long highway would be done at 15 to 25 per cent less than the lowest bid.

He said: “It is very painful when some people accuse our company of benefitting from a 10-year tax rebate from the government. There is nothing like tax credit in all these. We volunteered to construct the Apapa to Oworonshoki long highway at a cost that will be about 15 to 25 per cent less than the lowest bid on the road. We hope to get back our money after three years by removing the sum from the tax we are supposed to pay.”



He said the company proposed to the government to reduce 50 per cent of the total cost of the road, from its proposed tax, on its first year after completion and 25 per cent of the costs respectively for two years from its proposed tax.

“The government came forward and said, you guys are repairing the road, good enough but this road is very important to all Nigerians. Is it possible for you to help us do proper road construction of the 35 kilometers from Apapa to Oworonshoki? We advised the government to go for a competitive bidding and also that we will take it up at a cost that will be lower than the lowest bid received by the government.

Since the government may not be handy with cash, we proposed that we will recover our money in three years in installments against our future tax. So infact the government will not pay anything to us, we will only offset our costs against our three years tax.

He said the Group had previously built a 24 kilo metres concrete road at Ibeshe, Ogun-state that cost the company a whooping N8.7 billion at no cost to the government and recently the Obajana-Kabba 44 kilo metre high way on which government contractors gave a bill of N16 billion but we told government that we can do it at N6.9billion. our company should be commended rather than being vilified by detractors.

It would be recalled that the federal government said it would give tax relief to private sectors that invest in road construction in the country.

Speaking at the Road Construction Summit 2017 organised by Lafarge and other at the weekend in Lagos, the Minister of Power, Works and Housing, Babatunde Fashola said that there are a lot of possibilities that lie ahead when private capital comes into road construction under the tax relief order as proposed to be amended and complements government spending.



According to him, the government has just concluded an agreement using the tax incentive order to hand over the Apapa area comprising Creek Road, Liverpool Road, Marine Beach to Mile 2, Oshodi, Oworonshoki to the Lagos end of the Toll Gate on the Ibadan Expressway to Dangote Group.

Also, he said the government has signed an agreement with NLNG to construct the Bodo-Bonny Bridge at the cost of N120.6 billion with NLNG and federal government sharing the cost.

“We have identified 28 toll plazas out of the old toll plazas, on roads where construction work is currently going on, at which we propose to restore toll plazas. We have also concluded traffic surveys on 51 major highways and now have current traffic data on these roads and we can project vehicular traffic movement for tolling and concession purposes,” Fashola said.

Going by the recent second quarter GDP report, the Minister said, “With respect to construction and related activities, GDP in the sector had been negative since Q2 2015, but turned positive for the first time in Q1 2017 growing by 0.15 per cent and continued to positive growth into Q2 2017 by growing by 0.13 per cent. The reversal in construction has to do with civil works especially due to FGN capital expenditure.”

Chairman, Lafarge Africa, Mr. Mobolaji Balogun noted that with the federal and respective state governments grappling with dwindling resources, it has become crucial that the ecosystem of public and private sector players brainstorm on issues of funding, partnerships, design, and quality of roads in Nigeria, as for sure government can no longer do it alone.


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http://thenationonlineng.net/dangote-denies-proposed-10-year-tax-holiday-rumor/

The liars just want to give impression that Hausa is this and that.

Spreading hatred for no reasons.

AntiWailer:
The liars just want to give impression that Hausa is this and that.

Read the whole story and show me where Hausa is mentioned there.

You are just a boy thinking of everything through the prism of tribalism.

Mujaheeeden:
Read the whole story and show me where Hausa is mentioned there.

You are just a boy thinking of everything through the prism of tribalism.

It is too deep for you to comprehend.

Have a nice day

NA TODAY?
ITS THEIR COUNTRY SO I DONT CARE!

AntiWailer:
The liars just want to give impression that Hausa is this and that.

Spreading hatred for no reasons.

They spread hate for a reason which is is to get others to join them hating others.