People & Money

Flour Mills to Construct Agbara Road – Fashola

After decades of neglect, the dilapidated Atan-Agbara road may soon be rehabilitated.

The Minister of Works and Housing, Babatunde Raji Fashola revealed this while speaking on ‘The Platform’, a programme designed for civic engagement and deliberations on issues of governance.

Mr Fashola said the rehabilitation of the road will be done by Flour Mills of Nigeria under the Road Infrastructure Tax Credit (RITC) Scheme signed on the 25th of January 2019 by President Mohammadu Buhari.

Also Read: Nigerian Manufacturers Groan As Unsold Inventory Rises Amid Forex Shortage

The RITC grants income tax credit to private sector entities that provide funding for the rehabilitation and Refurbishment of roads. The costs of projects carried out plus Uplift will then be regarded as credits from the companies’ income tax.

The Atan-Agbara road plays host to many manufacturing companies such as Reckitt Benckiser, Suntory foods GlaxoSmithKline (GSK), Unilever, Nestle Plc, Beloxxi Group, Procter & Gamble , Sunsteel Industries Ltd, Cometstar Manufacturing Company Ltd, GZ industries, Drury Industries etc.

In 2017, the Ogun State government under the leadership of Governor Ibikunle Amosun partnered with investors to reconstruct the road to link Badagry, Seme and Benin Republic to foster business activities between Togo, Cotonou, Seme-Badagry and Apapa ports. The project was later abandoned because of several logistics concerns.

Also Read: Nigeria Spends About $1.5 Billion Annually on Dairy Products Importation – Agric Ministry

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