Nigerian govt to give tax incentives to lure more investments in road construction

The government of Nigeria has recently revealed that it would grant tax incentives to the investors willing to fund the construction of major road projects across the country.

Any company who funds road construction will get tax credit or reduction equal to the amount invested in the projects, the official News Agency of Nigeria (NAN) quoted finance minister Zainab Ahmed as saying.

"The current government has undertaken several initiatives to partner with the public," she said. "One of them is the Road Infrastructure Tax Credit Scheme, where if any private sector builds any road with their own resources, they can recover the investment made through the tax credit."

The government is also automating the process of acquiring waivers or import duties. The process will be more transparent and efficient," Ahmed said, Xinhua noted.

The government recently introduced the Strategic Revenue Growth Initiative for sustainable revenue generation in all sectors of the economy. The initiative also seeks to improve monitoring collections by all revenue-generation agencies.

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