This article seeks to bring a round-up of events that took place in the Nigerian construction industry from the 29th of November to the 5th of December 2020. From the Nigerian Institute of Architects proposing a bill to houses paving way for the fourth mainland bridge, we have everything covered.
The Nigerian Institute of Architects has hinted at sponsoring a bill with the help of the National Assembly. This bill seeks to bring an end to the hazard of building collapse in the country as it has become a problem that leads to the loss of lives and properties.
Architect Sunny Echono the National President of the Institute said this when the leadership paid a courtesy call on the Clerk of the National Assembly, Architect Olatunde Ojo Amos. Read more
Leadership newspaper Nigeria calls on the government of Nigeria to involve the private sector in road projects
The leadership newspaper of Nigeria has called on the federal government to begin full implementation of Executive Order 007 which was signed by the President, Muhammadu Buhari in January 2019. The Order, known as the “Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme” is aimed at allowing the private sector to fund the construction of roads and be repaid via tax credits to be utilized against their future tax obligations.
They took this step in order to adequately address the menace of bad roads and delayed road projects. In a statement on their website, they said “ it is high time we involved the private sector. It is now obvious that government alone cannot solve the problem ”. Read more
An aide to Nigeria’s VP announces a 30% import duty reduction levy on tractors and other imported vehicles
Laolu Akande an aide to Nigeria’s Vice President Yemi Osinbajo announced a 30% import duty reduction levy on tractors and other imported vehicles via a tweet. A part of the tweet read:
“To further cushion current socio-economic conditions, Buhari adm(sic) is proposing more tax incentives in the 2020 Finance Bill including import duty reductions from 35 to 10% & 0% levies on tractors, transport vehicles & co, 50% reduction of minimum tax, specific TETFUND exemption…”
The federal government says 795 houses will be affected in the construction of the Fourth Mainland Bridge in Lagos
The minister of environment, Mahmoud Abubakar who was represented by James Kolawole, stated this while speaking at the stakeholders’ scoping workshop on the construction of the 37-kilometer bridge. Kolawole noted that instead of 9,000 structures, 795 buildings would be affected.
The workshop was attended by representatives of the federal government and officials from Lagos state. Kolawole, however, urged the Lagos state government to show commitment in compensating the families who own the affected structures. He also added that the project will positively contribute to the state’s economic growth and enhance international trade. Read more
“This project is rated viable, because it will, in addition to bringing in more commerce, better connect Ogun State to the Eastern part of the Nation and ensure safer travel and durability of the road”. Read more