The Chartered Institute of Taxation of Nigeria (CITN) has established that private-public participation (PPP) under the road infrastructure investment tax credit scheme is an innovation that has aided in bridging the gap in road infrastructure in Nigeria.
The institute had applauded the approval given by the Federal Executive Council (FEC) to the Nigerian National Petroleum Corporation (NNPC) for the construction and rehabilitation of 21 roads under the road infrastructure tax credit scheme.
It said it was obvious that the Federal Government, through the Ministry of Works, had no budget proposal to rehabilitate the affected roads.
The development, the institute said, aligned with the purpose of Executive Order 007 tagged ‘Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (RID&RITCS)’ signed by President Muhammadu Buhari on January 25, 2019, which seeks to encourage PPP in the construction and refurbishment of road infrastructure in Nigeria.
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