Blogger on Haulage activities in Nigeria

According to a report by Premium Times online new media dated 8th February, 2018 quoted the Federal Road Safety Corps (FRSC) has saying that “Nigeria lost N39 billion to trailer/tanker crashes in 2018. This was disclosed by the Corps Marshal, Boboye Oyeyemi in a meeting with Transport Stakeholders in Abuja the Federal Capital Territory (FCT). Mr Oyeyemi, said that the meeting was aimed at addressing sundry issues affecting the transport sector, especially as it relates to articulated vehicles,he described the loss as ”unpleasant story.” He decried that over 90 per cent of tankers and trailers were over 30 years old, saying that maintenance was a serious matter that needed to be addressed. “It costs about N50 million to buy a new head for a tanker excluding the body, while registration and insurance would cost about N60 million to put a tanker or trailer on the highway,” he said. He also said the number of crashes which involved trailers in 2017 was 522 as

Let me first say complement of the season to my esteem readers, interestingly this is my first article for year 2019. This new year started on a good note with the signing of the Executive Order 007 of 2019 on the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme by President Muhammadu Buhari. The aim of the executive order is to provide the much-needed private capital for infrastructure development in the country. The interesting thing about the scheme is that it will not only incentivise private sector investment in Nigerian roads across key economic corridors and industrial clusters, relieving the government of the burden of funding the initial outlays for these road investments, it will also serve as the key to unlocking the potentials within the haulage industry. The genius in this executive order 007 is the fact that companies or group of companies will be exempted from corporate taxation , by way of the issuance of tax credit