NNPC's Road Tax Income Soars 10,374% in 2025

The Nigerian National Petroleum Company Limited (NNPC) recorded a significant 10,374% rise in income from its Road Infrastructure Tax Credit Scheme in 2025, amounting to N92.901 million, up from N887,000 in 2024. This increase occurred despite NNPC's decision to stop directly funding inherited road projects, which led the Federal Government to seek alternative funding arrangements for unfinished projects.

The uplift income is linked to the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme established under Executive Order 007 of 2019, designed to encourage private-sector participation in road construction. The Minister of Works, David Umahi, stated that President Bola Tinubu directed the continuation of these inherited projects under a different funding structure after NNPC indicated it would no longer fund Federal Government projects directly.

Umahi mentioned that the projects would be reframed and funded through renewable infrastructure funding, while contractors must exhaust existing funds to earn more.