Nigeria offers tax incentives to encourage investment in road construction

ABUJA, May 29
(Xinhua / GNA) – The Nigerian government announced Tuesday that it would grant taxes
incentives for investors to finance the construction of major road projects
Across the country.

Any company that finances
the construction of the road will benefit from a credit or a tax reduction equal to the amount invested
in projects, the official Nigerian News Agency (NAN) cited
Minister Zainab Ahmed said.

"The flow
government has undertaken several initiatives in partnership with the public ",
she says.

"One of them is
the road infrastructure tax credit system, where the private sector builds
any road with their own resources, they can recover the investments made
the tax credit. "

The government is also
automate the process of acquiring waivers or import duties, Ahmed said.

"The process is going
be more transparent and effective, "she said.

The government
recently launched the Strategic Income Growth Initiative for Sustainable Development
income generation in all sectors of the economy.

The initiative also
seeks to improve the monitoring of collections by all revenue generating agencies.

GNA