Dangote Group subsidiary gets greenlight to construct Road in Nigeria
The Executive Council (FEC) has approved Dangote Group subsidiary to construct the Obajana-Kabba Road in Nigeria.
The Dangote Group subsidiary will execute the project in exchange of tax waiver benefits.
The Dangote subsidiary has been granted 30% income tax obligation spread over time. However, It doesn’t mean they won’t pay tax, instead they will continue to pay their normal tax obligation but in this case the company will get remission for making this investment because ultimately, the road doesn’t belong to them, but to the government and it’s for the benefits of Nigerians and the nation as a whole.
The road project will be constructed using cement to demonstrate how the nation should continue to build in order to reduce maintenance on roads.