Contrary To Claims By The Minister Of Power, Works And Housing, Mr. Babtunde Fashola, That Dangote Group Will Benefit From A 10-year Tax Waiver For The Construction Of The Apapa-Oworonshoki End Of The Lagos-Ibadan Expressway, The Conglomerate Said It Was Untrue.
Fashola Had Announced The Government’s Decision While Speaking At The Businessday Road Construction Summit, Held In Victoria Island, Lagos.
But The Group Executive Director, Strategy, Portfolio Development And Capital Projects, Dangote Industries Limited, Mr. Devakumar Edwin, Said On Monday In Lagos That The Company Has Never Benefited From Any Tax Waiver Or Credits Except When It Is “industry-based And Applies To All Its Competitors.”
Edwin Said The Claim Was Untrue That The Company Will Benefit From A 10-year Tax Holiday After Constructing The 35 Kilometres Apapa To Oworonshoki Highway End Of The Lagos-Ibadan Expressway.
“It Is Very Painful When Some People Accuse Our Company Of Benefitting 10-year Tax Rebate From The Government.
“There Is Nothing Like Tax Credit In All These. We Volunteered To Construct The Apapa To Oworonshoki Long Highway At A Cost That Will Be About 15 To 25 Per Cent Less Than The Lowest Bid On The Road.
“We Hope To Get Back Our Money After Three Years By Removing The Sum From The Tax We Are Supposed To Pay,” He Added.
the Whistle