Headlines

Tax Credit: NNPC’s N1.6trn quest to fix Nigerian roads

Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd, NNPCL, Mallam Mele Kolo Kyari, inspecting rehabilitation work progress on the Lagos-Badagry Road, as part of the 21 roads funded by the NNPC Limited under the FG’s Federal Roads Infrastructure Tax Credit Scheme.

Bayo Amodu

While Nigeria boasts of the largest road network in Africa, only about 60,000km out of its estimated 195,000km road network is paved. Some of the roads are either in a state of disrepair, poorly maintained or altogether untarred.

As part of the Federal Government’s efforts to improve the condition of road infrastructure and transportation in the country, it introduced Executive Order 007 which was signed by President Muhammadu Buhari on January 25, 2019.

The instrument brought about the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme with the objective to unlock funding from the private sector for critical road infrastructure in the country.

Executive Order 007 was designed to empower private companies to finance the construction or refurbishment of federal roads designated as “Eligible Roads” under the scheme and recoup their investments through the deduction of the approved total costs expended on the project from their annual Companies Income Tax.

The Road Infrastructure Scheme is a Public-Private Partnership (PPP) intervention that enables the Federal Government to leverage private sector capital and efficiency for the construction, and refurbishment of critical road infrastructure in key economic areas in Nigeria.

Participants under the arrangement were entitled to utilise the total cost, referred to as “Project Cost”, incurred in the construction or refurbishment of an eligible road as a tax credit against their future Companies Income Tax (CIT) liability until full cost recovery is achieved.

Like any other responsible corporate citizen, the NNPC prioritizes road infrastructure as part of its Corporate Social Responsibility (CSR) Projects and became one of the companies that have keyed into the initiative.

The NNPC had expressed interest to invest in the reconstruction of selected federal roads in order to sustain a smooth supply and distribution of petroleum products across the country.

A few months after announcing the release of N621 billion to revamp selected Nigerian roads, the company is planning to invest over N1 trillion for a similar purpose. In the first phase, the NNPC was expected to construct a total of 1,804.6 kilometres of roads at a total cost of N621,237,143,897.35, with the North-central getting the highest chunk of N244.87 billion and the South-south emerging the second highest beneficiary of the NNPC roads project with the sum of N172.02 billion.

In addition, the South-west has a total allocation of N81.87 billion; it’s N56.12 billion for the North-East, while the South-East has N43.28 billion allocation. The North-west was allocated N23.05 billion.

The Group Chief Executive, NNPC Limited, Mallam Mele Kyari, said during a tour of roads in the North-central and South-west, along with the Chief Executive of the Federal Inland Revenue Service (FIRS), Muhammad Nami and top officials of the Ministry of Works and Housing, that in the coming months, Nigerian road users will experience substantial comfort when commuting.

Also, among the roads visited by Kyari were the one in Niger State where he carried out an assessment of the reconstruction of the Bida-Lambata road in the state, with a length 124.81km and the Lagos-Badagry expressway along the Agbara junction and Nigeria/Benin border.

Under the scheme, the road projects will be funded by NNPC and the equivalent amount deducted by the Federal Inland Revenue Service from the National Oil Company’s tax obligations. Through the scheme, the NNPC will be serving as an enabler for building the Nigerian economy and it is collaborating with key stakeholders such as the Ministry of Works and the FIRS on the execution of the initiative.

The company said this is in response to the plight faced by petroleum products marketers in transportation which affects nationwide distribution.

Interestingly, NNPC Ltd is involved in operations across the oil and gas value chain from exploration and production of hydrocarbon and processing of natural gas to nationwide distribution of petroleum products such as petrol, diesel, and kerosene.

The NNPC’s assets base and operations span across different regions of the country and the oil and gas industry has remained one of the biggest and most important economic drivers through foreign and domestic investments.

Kyari further stated that the NNPC was taking cognisance of the importance of road infrastructure to the development of the Nigerian economy, explaining that it is the reason it is investing massively in road infrastructure.

He termed the programme a game changer in the federal government’s quest to scale up infrastructure projects in the country, noting that the NNPC will continue to support any effort of the government aimed at growing the Nigerian economy.

The GCEO expressed satisfaction with the progress of work so far done in the project sites visited, adding that the NNPC had done its part in releasing all the funds needed for their execution.

He said, “We are very happy about the state of this road development. We are very happy with this intervention across the country not just in this place. We are doing 1,800km across the country. We are taking another set of over N1 trillion of investments in road infrastructure in the country. We believe that this tax credit system that Mr President has put in place is the game changer for our country.

”We believe that in the next 24 months, there will be a massive change to the entire road network in this country and this is why NNPC is your company and working for all of us.

“We think that it is the best way to intervene and bring up our infrastructure. We are adding another set of cash, we have not reached the final numbers, but I know it is over N1 trillion.’’

Kyari stated that the quality of work was top-notch, revealing that the consultants deployed during Buhari’s stint at the Petroleum Trust Fund (PTF), were handling the jobs. “We are using the same consultants in partnership with the Federal Ministry of Works and the FIRS to make sure that this works for all of us and we can see from the quality of work. This is the best framework for delivering infrastructure in the country. We are funding partners. We are development partners and enablers. So, whatsoever the FIRS and the ministry of works approve for us, we will consider from our cash flow and fund them,” he assured.

The Director, Roads, Ministry of Works, Folorunso Esan, said through the intervention, the NNPC has been able to improve the pace of the project from 10 per cent to about 40 per cent within a very short period.

Headlines

Tompolo pays glowing tribute to Wike on his 58th birthday.

Funso OLOJO

High Chief Government Oweizide Ekpemupolo, popularly known as Tompolo, has eulogised the uncommon courage, resilience and unwavering sense of duty of Barrister Nyesom Wike, the Minister of Federal Capital Territory(FCT), describing these attributes as those that align with the Tantita’s objectives and work ethic.

Tompolo, the Chairman of Tantita Security Services Nigeria Limited, make this observation in his message to Wike on his 58th birthday, where he paid a glowing tribute to the FCT Minister.

According to him, Wike’s public life is a reflection of courage, conviction and an unwavering sense of duty.

Tompolo said Wike’s journey through public service—marked by legal brilliance, political audacity and firm decision-making—has consistently demonstrated that true leadership is defined by impact, not rhetoric.

He noted that from Wike’s formative years in public administration through his tenure as Governor of Rivers State and now as FCT Minister, his performance has remained anchored on results, resilience and a relentless commitment to public good.

“In the Federal Capital Territory, your presence is already being massively felt.

” The renewed focus on infrastructure, order, and accountability speaks to a hands-on leadership style that understands Abuja’s symbolic and practical importance to Nigeria’s unity and governance,” Tompolo said.

The TSSNL founder commended Wike for recognising the intrinsic connection between security, development and national stability, stressing that the minister’s insistence on law, order and institutional discipline aligns strongly with Tantita’s mission of protecting critical assets and fostering a safe environment for sustainable growth.

He added that Wike’s reputation as “Mr. Project” was well-earned, given his consistent record of performance and the courage to take difficult decisions when duty demanded it.

“In moments that demand firmness, you have chosen responsibility over convenience, standing by your convictions even when the path was difficult,” he said.

Tompolo prayed for renewed strength, sharper vision and continued success for the minister as he marks another year, expressing confidence that Wike’s service would continue to leave a lasting imprint on national development.

“Please accept my sincere best wishes for good health, wisdom, and continued success. May the years ahead bring fulfilment and further contributions to the progress and unity of Nigeria,” he added.

Headlines

Nigeria denies ownership of detained vessel

VLCC SKIPPER

Funso OLOJO

The management of the Nigerian Maritime Administration and Safety Agency (NIMASA) has clarified the status of a tanker vessel, MT SKIPPER, currently intercepted and detained by the United States Coast Guard(USCG) over alleged oil theft and other transnational crimes.

According to the statement from the Nigeria’s maritime industry apex regulatory agency, the vessel , Very Large Crude Carrier,is not a Nigerian – flagged vessel while its purported owners, Thomarose Global Ventures Limited, are not registered with NIMASA as a shipping company.

“An analysis of the vessel’s movement, monitored through the Agency’s Command, Control, Communication, Computers and Intelligence (C4i) Centre, shows that the vessel was last sighted in Nigerian waters on 1st July 2024.

“After departing Nigerian waters, the vessel continued on its international voyage pattern and was tracked operating in the Arabian Sea (Asia) and later in the Caribbean region, where the U.S. interdiction eventually took place.

“Records indicate that SKIPPER which was formerly owned by Triton Navigation Corp, has undergone multiple name changes over time.

“The Director General of NIMASA, Dr. Dayo Mobereola, reaffirmed the Agency’s commitment to collaborate with all relevant stakeholders, including U.S. authorities, in the ongoing investigations. He emphasized that criminality will not be tolerated in Nigerian waters” NIMASA stated in a public statement.

Headlines

Adeniyi, Akutah, Fakolade, Warredi, Maiwada headline 10th anniversary of seminar for maritime journalists in Lagos

Funso OLOJO

First Mediacon media group, the convener of the annual seminar for maritime journalists, has lined up an array of industry’s stakeholders to sharpen the intellectual capacity of maritime journalists at this year’s workshop.

The annual event, which is the 10th edition this year, holds December 17th, 2025 in Lagos.

According to the organisers of the programme, the cream of the maritime industry have been lined up to engage the industry’s media in intellectual discussions that will deepen the knowledge of its practitioners in digital trade facilitation, regulatory efficiency and the economic reforms.

Key speakers at the event include the Comptroller- General of the Nigeria Customs Service, Adewale Adeniyi, the Executive Secretary of the Nigerian Shippers Council, Barrister Akutah Ukeyima who is expected to deliver the keynote address, Mr Tola Fakolade, Director of the National Single Window, Mr Warredi Eniosuoh, who is expected to chair the event and Deputy Comptroller of Customs and the National Public Relations Officer of the NCS, Abdullahi Maiwada.

Maiwada is expected to deliver a practical training on “Data Analysis for Effective Maritime Reporting”

According to Mr. Sesan Onileimo, CEO of First Mediacon Network Limited and convener of the seminar, “the past decade has proven that accurate, data-driven journalism is vital to the growth of the maritime economy.

“This platform empowers journalists with the tools to properly analyse reforms, interrogate investments and provide the business community with credible information.”

Now in its tenth year, the seminar has become a major business intelligence platform, equipping maritime journalists with the technical insight required to analyse policy decisions, market trends and operational performance within the nation’s blue economy.

Over the years, it has helped strengthen the information value chain that supports investment decisions across ports, logistics, shipping, and inland trade corridors.

This year’s edition comes at a time when Nigeria’s maritime economy is undergoing significant transformation, driven by digitalisation, regulatory restructuring and demand for greater operational transparency.

Marking a decade of consistent impact, the organisers reaffirm their commitment to strengthening the professional capacity of the maritime media, while promoting a more transparent, efficient and investment-friendly maritime environment.