The Federal Executive Council (FEC) has approved the request of the Nigerian National Petroleum Corporation (NNPC) to take over the reconstruction of 21 federal roads which include the Oyo-Ogbomoso 52km road and the dualization of the Ibadan-Ilorin road (Route A2).
The Minister of Works and housing, Babatunde Fashola made this known after the FEC meeting presided by Vice President Yemi Osinbajo on Wednesday.
The minister said the roads would cover a total distance of 1,804.6 kilometres and the road projects would cost N621.2 billion in exchange for tax.
He said there was an Executive Order 7, signed by President Muhammadu Buhari, allowing private sector operators to identify infrastructure such as roads for which they would deploy in advance the taxes that they should have paid.
“You recall that I had briefed you here about the use of that policy by the Dangote Group on the Obajana to Kabba and Apapa to Oworonshoki.
“Earlier this year, there were five other roads, the Kaduna Western Bye-pass, the Lekki Port Road, the road from Sagamu through Papalanto and a couple of others like that.
“So, today we have another player; we have other interested players who are showing interest but we haven’t concluded.
“But we have another player who has shown interest and is committed to deploy taxes and it is the NNPC.
“So NNPC has identified 21 roads that it wants to deploy some of its tax liabilities to,’’ he said.