President Muhammadu Buhari has signed the Executive Order 007 Of 2019 on the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.
The order permits private companies and investors to spend their funds on improving infrastructure across the country, and they will recover the cost incurred by paying reduced taxes over a period of time.
He signed the executive order on Friday at the Council Chambers in the State House, Abuja.
Also present at the event were Alhaji Aliko Dangote, Governor Nasir el-Rufai of Kaduna State, Governor Yahaya Bello of Kogi State, Governor Abdulaziz Yari of Zamfara State, Governor Ibrahim Dankwambo of Gombe State, Governor Okezie Ikpeazu of Abia State, among others.
In his remarks at the event, Buhari said: “Through this Scheme, companies that are willing and able to spend their own funds on constructing roads to their factories or farms, will recover their construction costs by paying reduced taxes, over a period of time”.
He also highlighted the various achievements of his administration in terms of infrastructure development, and restated his commitment to ensuring transparency in the process.