FEC okays N309.9bn road contract for Dangote as tax credit

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FEC okays N309.9bn road contract for Dangote as tax credit

Abuja/Keffi expressway
Abuja/Keffi expressway

By Johnbosco Agbakwuru, Abuja

The Federal Executive Council, FEC, Wednesday, approved the award of a contract to Dangote Industries for the construction of five roads totaling 274.9 kilometres at the local cost of N309,917,717,251.35. 

The contract sum will be advanced by the company as tax credit. 

Minister of Works and Housing, Babatunde Fashola, disclosed this while briefing State House correspondents at the end of the council meeting presided over by President Muhammadu Buhari at the First Lady’s Conference Room, presidential villa, Abuja. 

The Minister said the road contract, which was the second approved for the ministry at the meeting, will be executed on concrete and will be the larger of such project in the country. 
According to him, “The second memorandum presented by the Ministry of Works and Housing was for the construction or the reconstruction, as the case may be, of five road projects in favour of Messrs. Dangote Industries Limited, totaling 274.9…



Source: Vanguard Newspaper