Corporate and individual entities that invest in public infrastructure projects in Nigeria now benefit from a tax reduction, Nigerian minister of energy, public works and housing, Babatunde Fashola told local press.

The 30% tax reduction on revenue is granted by the Federal government of Nigeria, on the investor’s request. “Even as a person, you can apply for the allowance if the infrastructure concerned meets government’s criteria,” highlighted Babatunde Fashola.

The Nigerian government by implementing such measures wishes to stimulate investment and assist in the renovation and construction of infrastructures across the country. This could extend to other sectors where government needs support of private sector, Minister Fashola said.

A subsidiary of the Dangote group and a construction firm has already been granted the allowance as it applied for it from the government. This in the framework of the construction of the Lokoja-Obajana-Kabba-Ilorin road segment, in which cement is used.