MTN Nigeria has achieved a significant milestone in the rehabilitation of the 110- kilometre Enugu-Onitsha Expressway under the Road Infrastructure Tax Credit (RITC) scheme, which has reached 17% completion.

“We are pleased with the progress. This is a crucial step towards improving the transportation infrastructure in the region, and it helped to improve the ease of commuting, particularly during the festive season. More broadly, we believe the project will have a transformative impact on the lives of Nigerians and the country’s economy once completed,” MTN Nigeria said in a statement.

MTN Nigeria had earlier prepaid the sum of N12.032 billion, towards the reconstruction of the Enugu-Onitsha Expressway.

The telecoms giant is expected to complete the dualisation of the 110-kilometre road.

The RITC scheme grants income tax credit to companies and individuals that provide funding for the refurbishment and rehabilitation of roads.

The scheme is a public-private partnership (PPP) intervention that enables the Nigerian government to leverage private sector capital and efficiency for the construction, repair, and maintenance of critical road infrastructure in key economic areas in Nigeria.

Participants will be entitled to utilise the total cost (project cost), incurred in the construction or refurbishment of an eligible road as a tax credit against their future Companies Income Tax (CIT) liability, until full cost recovery is achieved.

In August 2021, MTN announced plans to reconstruct the Enugu-Onitsha expressway, under the RITC.

[url]https://moneycentral.com.ng/markets/article/mtn-nigeria-completes-17-of-enugu-onitsha-expressway-reconstruction/
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[img]https://i0.wp.com/moneycentral.com.ng/wp-content/uploads/2023/07/MTN-new-logo.jpg?w=906&ssl=1
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The pace is slow but we thank God something is being done.

APC is an evil party

If done cost effectively, it should serve to expose the inflation going on in public service.

That's how it suppose to be

This is the only noble idea from the govt of Buhari, allowing corporate agencies to take up infrastructural development for tax return or rebate

The percentage completion pales against the quantum of work still left but it is a step in the right direction.

Major roads for which resources can not readily be mobilized should be concessioned to private companies for tax rebates.

States should follow suit and hold multinational and indigenous companies to projects instead of multiple taxations that is mismanaged by the Governors.

hansomb:
That's how it suppose to be

Bro

That's not how it's supposed to be ooo

A set-to-be-abandoned project going by the company's recent financial reports.

At this pace it means it will still take them 10yrs more to complete it.

I thought it's completed not knowing it's complicated.

17% and apc is already advertising it, may God deliver Nigeria from the hand of this evil party

matify83:
The percentage completion pales against the quantum of work still left but it is a step in the right direction.

Major roads for wish resources can not readily be mobilized should be concessioned to private companies for tax rebates.

States should follow suit and hold multinational and indigenous companies to projects instead of multiple taxations that is mismanaged by the Governors.

on federal roads? You guys enjoy typing nonsense.

It's now left for private organisations to build federal roads in d East.

What a country

gaby:
A set-to-be-abandoned project going by the company's recent financial reports.

Their full year report is too frightening, I have been trying to analyze what could have gone wrong . If a whole mtn made that loss what would small companies do.

Bulldozer90:
on federal roads? You guys enjoy typing nonsense.

States don't have roads?

The multinational companies don't pay taxes to state government?

Do you know how much Lagos state is getting as tax from Dangote refinery?

Do you know how much Kogi state gets as tax from Mtn for the fiber optic cables traversing the state.

Read to comprehend the flow of the message before you get eaten without condiments.

matify83:


States don't have roads?

The multinational companies don't pay taxes to state government?

Do you know how much Lagos state is getting as tax from Dangote refinery?

Do you know how much Kogi state gets as tax from Mtn for the fiber optic cables traversing the state.

Read to comprehend the flow of the message before you get eaten without condiments.

you are still wrong head or tail. You do not harass innocent businesses already paying multiple taxes . You hold them to account for what? Are they owing you or are they your government?

MTN NG should compensate us for Network outage/Disruptions over the past weeks.

Folks lost millions as a result of that.

Bulldozer90:
you are still wrong head or tail. You do not harass innocent businesses already paying multiple taxes . You hold them to account for what? Are they owing you or are they your government?

You are ignorant of the Nigeria tax laws.

I'm a federal employee but I pay my tax to the state government where I work.

Same with registered companies.

Until the laws are repealed, companies will continue to suffer multiple taxation at federal, state and local government levels.

matify83:



You are ignorant of the Nigeria tax laws.

I'm a federal employee but I pay my tax to the state government where I work.

Same with registered companies.

Until the laws are repealed, companies will continue to suffer multiple taxation at federal, state and local government levels.

Mr man you said states should make companies do projects. I engaged you on that and you're running in circles.

States should follow suit and hold multinational and indigenous companies to projects

Bulldozer90:
Mr man you said states should make companies do projects. I engaged you on that and you're running in circles.

You don't seem to understand my flow.

It is common practice for companies to undertake projects in lieu of tax rebate.

I'm encouraging states to copy the same format on multinational companies.

Instead of collecting huge taxes at state level, I encourage states to tie those taxes to projects to be executed by the companies eg roads or hospital.

Nobody is forcing the companies to do projects.

What is difficult in my language.

matify83:
The percentage completion pales against the quantum of work still left but it is a step in the right direction.

Major roads for which resources can not readily be mobilized should be concessioned to private companies for tax rebates.

States should follow suit and hold multinational and indigenous companies to projects instead of multiple taxations that is mismanaged by the Governors.

I don’t know why Rivers state governor cannot mandate them to build Port Harcourt monorail within PH metropolis.

Or why they can’t build sections of our Eastern corridor railway linking Eastern Nigerian to SS and NE.

Including Banks such as Access and GTB.

matify83:


You don't seem to understand my flow.

It is common practice for companies to undertake projects in lieu of tax rebate.

I'm encouraging states to copy the same format on multinational companies.

Instead of collecting huge taxes at state level, I encourage states to tie those taxes to projects to be executed by the companies eg roads or hospital.

Nobody is forcing the companies to do projects.

What is difficult in my language.

ok. I get now.

MTN a foreigner would pay for road and not Dangote the subsidized business that damages road.

The pace is so slow

I could remember vividly that Buhari APC supporters listed this road as one of their projects started and finished in the East,in their word the road is 70% ready
What more do the Igbos want,they asked?
Hahahaha
Nigeria under APC is a big joke
And they expect us not to make jokes when the Naira/economy is falling

Welcome development

At all, at all

Sirmwill:



Bro

That's not how it's supposed to be ooo

so how's it suppose to be