The president on 25 January 2019 signed an executive order that provides certain tax incentives for road and infrastructure development.
Executive Order No. 007 enables the government to leverage private-sector capital for the construction, refurbishment, and maintenance of roads in key economic areas in Nigeria. In exchange, companies participating in the program will be entitled to use the total cost of the project as a tax credit against their future companies income tax until full cost recovery is achieved. The tax credits will be made available to companies annually, based on certain construction milestones achieved, for immediate use. Also, participants may sell or transfer (in whole or in part) unused tax credits to an interested party.
The program is available for a 10-year period.
Read a January 2019 report [PDF 440 KB] prepared by the KPMG member firm in Nigeria
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