**Interviewer:** We have Juliet Akoje with us, reporting from Abuja. Recently, the House of Representatives has decided to investigate the Road Infrastructure Development and Refurbishment Investment Tax Credit scheme initiated by former President Muhammadu Buhari. Can you elaborate on this development?
**Juliet Akoje:** Absolutely. The House has made a resolution to conduct a comprehensive investigation into the scheme. They have tasked the Committee on Works to examine the eligibility and selection processes for beneficiaries. This involves scrutinizing the criteria established by the management committee to ensure that the participating companies align with the scheme’s objectives.
**Interviewer:** What particular areas will the committee focus on regarding the impact of this scheme on road infrastructure in Nigeria?
**Juliet Akoje:** The committee’s role is to assess the actual impact of the scheme on road infrastructure development in Nigeria. They aim to identify the challenges and limitations faced by the participating companies while also recommending possible solutions. Furthermore, they will evaluate the mechanisms for transparency and accountability to ensure the effective functioning of the scheme.
**Interviewer:** This resolution follows a motion presented during a recent plenary session. What spurred this immediate action?
**Juliet Akoje:** That’s correct. The motion, introduced by Hon. Ibrahim Aliyu, emphasized the urgent need for accountability regarding public funds and raised questions about the scheme’s effectiveness. Hon. Aliyu pointed out that the scheme was established under Executive Order No. 007 in 2019, highlighting the federal government’s assertion at that time that Nigeria would require N348 trillion over the next decade to bridge its infrastructure gap.
**Interviewer:** Can you explain the purpose of this Tax Credit Scheme as per Hon. Aliyu’s remarks?
**Juliet Akoje:** Certainly. Hon. Aliyu described the Tax Credit Scheme as a way to encourage private sector investment in road infrastructure development in Nigeria. It allows companies to recover costs incurred for constructing or refurbishing eligible roads as tax credits against their future Companies Income Tax (CIT) obligations.
**Interviewer:** It’s been five years since the scheme was implemented. What concerns did Hon. Aliyu raise regarding its effectiveness?
**Juliet Akoje:** Hon. Aliyu expressed important concerns about the scheme’s effectiveness, particularly in terms of project viability and cost efficiency. He noted that the selection process for beneficiary companies lacks transparency and clear eligibility criteria. He also highlighted the scarcity of information about the project evaluation and approval process, indicating that the way tax credits are being utilized may not align with the scheme’s original goals, thus compromising its potential impact on the nation’s road infrastructure.
