Emerging report indicates that the
President Muhammadu Buhari-led Federal Government has granted Africa’s
Richest man, Aliko Dangote, tax waiver for 10 years.
By this Dangote will not be expected to pay tax for 10 years.
Minister of Power, Works and Housing, Babatunde Fashola, made the disclosure in Lagos, at the weekend.
“We inherited a tax incentive policy for
individuals to benefit from tax remission, to recover investment made
in public infrastructure like roads, which other members of the public
can utilise”, Fashola said.
“The government reviewed the five-year
limit on that tax order to a 10-year period, to sustain private
investment in road infrastructure, because it is a long-term asset.”
“Government reviewed the order by
amending individual investment to include groups of individuals, because
not all potential investors can individually muster the resources
alone, but can do so as a group, and recover their pro-rated share.
“As for the agreement with Dangote, we
are now awaiting the design of the 35 km stretch, excluding the portion
that has been completed, about 7 km, by the previous administration
around Mile 2 area.
“From the design, we will determine the cost and the scope of works which we hope can be executed quickly.
“As this government promised, we will
solve the Apapa and Port congestion problem. I can only tell you that
the solution is now on the way”, he said.