Financial economists had mixed reactions to the Nigerian National Petroleum Company Limited’s approved plan to invest N2. 52 trillion in federal road reconstruction under the tax credit policy.
In response, Sheriffdeen Tella, Professor of Economics at Olabisi Onabanjo University in Ago Iwoye, Ogun State, described the process as one of bureaucracy and multiplied sources of corruption. “I don’t see why NNPC should be granted permission to build roads worth N2.52 trillion”.
“I believe it is completely inappropriate for NNPCL, which does not make that much money, to invest that much money in road projects at their current income level”.
Muda Yusuf, Director of the Centre for the Promotion of Private Enterprise, on the other hand, described the investment as a welcome development considering the country’s infrastructural deficit.