The Nation Newspaper Benin-Lokoja Road: BUA gets tax credit contract on 60-km stretch
– has beebn given a contract to build a 60-kilometre stretch of the Benin-Lokoja Highway under the NNPCL Funding and Infrastructure and Development Refreshment Investment Tax Credit Scheme.Works Minister Dave Umahi, who dropped the hint yesterday, said the portion given to BUA would be excised from the 284-km road awarded for N896 billion in 2012 to four contractors.
The minister spoke in Abuja when the Edo State Senate Caucus leaders – senators Adams Oshiomhole and Monday Okpebholo visited him at work.At the meeting where the minister said the his ministry has to find the means to bridge the funding gap, were representatives of BUA Cement and the four other road contractors.The minister informed that it was at that point that BUA came into the arrangement with the tax credit option.
Umahi said because of the complexity of the project and the socio-economic importance of the road, 10 kilometres would be excised from the existing contractors for BUA for completion in six months.
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