Buhari signs executive order that permits private firms to fund road construction in Nigeria
President Buhari has signed an Executive Order 007 on Friday which grants private firms the permission to carry out road construction and maintenance in the country.
The order which is referred to as Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme makes provision for private companies who fund road construction to receive reimbursements in form of a tax credit.
Prior to this order, Nigerian roads could only be legally constructed and maintained by appropriate government agencies who have unfortunately become incompetent over the years.
As a result of negligence, major roads in Nigeria have become death traps as no region could boast of having standard roads across the country.
In order to salvage the situation, the president has put a stamp on a new order that will allow willing private firms to help develop road infrastructure with immediate effect.
The process of getting concession for carrying out such projects is still under review as the full guideline has not been made public yet.
