Nairametrics| Dangote industries and Flour Mills have decided to spend N2.5 billion to fix roads leading to the Apapa ports.

Here are the key points of the agreement.

  • The total cost of fixing the roads is N4.3 billion.
  • Dangote industries and Flour Mills have decided to contribute N2.5 billion to the project.
  • Nigerian Ports Authority will contribute the balance of N1.8 billion to the project.
  • MD of the NPA Ms Hadiza Usman stated  that reconstruction of the road will begin in a month’s time.
  • Ms Usman also stated that the there would be an annual budget for the reconstruction of the roads.
  • The road reconstruction would begin within one month without a clear timeline on when it will be completed.
  • The Federal Ministry of Works will still need to request the approval of Federal Executive Council before it embarks of the project.
  • The Minister for Works, Babatunde Fashola, who once criticized the FG for abandoning the Apapa road has in turn been accused of the current Lagos State Governor Ambode for abandoning the road.
  • In its budget defence in February 2017, Governor Fashola had listed the Apap Oshodi Expressway as part of its Priority 3 road projects

For both companies, the increase in CSR spending is a massive one. Figures from the 2015-2016 annual report for Flour Mills show it spent N7.6 million on CSR. Though Dangote industries has not stated its CSR expenses, figures from the 2016 annual report for Dangote Cement which is the largest company under the Dangote group show it spent N872 million on Corporate Social Responsibility in 2016.

 

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