FEC Approves N169.7bn For Road Construction

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The Federal Executive Council, FEC, has approved N169.7bn for the reconstruction of four roads.

Minister of Works and Housing, Babatunde Fashola, disclosed this to newsmen after the Council meeting presided over by President Muhammadu Buhari.

Fashola noted that the approval was in response to the tax credit scheme initiated in 2019 by President Buhari after signing Executive Order 7.

The Minister added that the order allows the private sector to finance public infrastructure in lieu of tax and then offset it over time using tax credits.

Written by: Helen Obih

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