President Muhammadu Buhari has signed and an executive order allowing private companies to build federal roads in the country.
The Executive Order 007 2019, signed by the president, is on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.
The president signed the order on Friday inside the council chamber of State House, Abuja.
The new order will allow private companies such as the Dangote Group, Unilver, and Lafarge Africa construct major roads across the country and be paid in the form of tax credit.Nigeria ranks 11th on the list of countries with the world’s worst road quality and network, according to the Global Competitive Index of 2018.
Between 2017 and 2018 Nigeria scored 2.5, worse than neighbouring Cameroon which scored 2.6.
Under federal laws, public roads are constructed and maintained by the government, but poor funding has seen key roads left unattended to for years, causing car accidents.
Signup for FREE news updates, latest information and hottest gists everyday/Advertise on NigerianEye.com