BREAKING: Buhari signs executive order allowing private companies to build federal roads
President Muhammadu Buhari has signed a new executive order allowing private companies to build federal roads in the country. Naija News learnt that The president signed the order earlier today inside the council chamber of State House, Abuja.
JUST IN: President @MBuhari signs the Executive Order No. 007 of 2019 on the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, at the Council Chambers, State House, Abuja. pic.twitter.com/pkGc4Xyng3
— Bashir Ahmad (@BashirAhmaad) January 25, 2019
It will be recalled that president Muhammadu Buhari had previously in the past signed six different executive order in his first term regime as the president. The last Executive order which was on seizing on looted funds and regulating money laundering and tax evasion got several backlashes from the main opposition and several elder statesmen.
The Executive Order 007 2019, signed by the president, is on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.
The new order will allow private companies such as the Dangote Group, Un federal road silver, and Lafarge Africa construct major roads across the country and be paid in the form of tax credit. Nigeria ranks 11th on the list of countries with the world’s worst road quality and network, according to the Global Competitive Index of 2018.
Between 2017 and 2018 Nigeria scored 2.5, worse than neighboring Cameroon which scored 2.6.