The Federal Executive Council on Thursday approved a tax relief scheme to attract private sector involvement in the provision of Federal road infrastructure across the entire country.
The approval was the outcome of a Memorandum for the setting up of a Road Trust Fund (RTF) presented by the Honourable Minister of Finance, Mrs. Kemi Adeosun, to the council at its meeting presided over by President Muhammadu Buhari.
The Road Trust Fund concept was jointly developed by the Federal Ministry of Finance and the Federal Ministry of Power, Works and Housing.
The RTF is expected to mobilise significant capital into road provision in order to unlock socio-economic development as well as facilitate investment across all areas of Nigeria to achieve inclusive economic growth.
Federal roads carry more than 80% of national vehicular and freight traffic, accounting for 17 per cent…
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