Following their business deal with the government that saw them agree to build the Apapa to Oworonshoki road at a price 15 to 25 percent lesser than other bidders, the Dangote Group is now set to benefit from a tax waiver that spans 3 years after the road is completed.
Devakumar who is an Executive Director in the company had made it known in a statement released in Lagos that the company had never benefitted from what many term as preferential treatments before and that the tax waiver is to be used as avenue for them to recover the losses they would incur for constructing the road at less than the cost price. He also said:
“It is painful when some people accuse our company of benefitting 10 years’ tax rebate from the government.”
He also explained that the company in part undertook the project of constructing the 35 kilometers road because of its corporate social responsibility initiative.
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