Aso Villa Reads for 01/07/2021

Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria

The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian Export-Import Bank (NEXIM-Bank) have signed a memorandum of understanding (MoU) on the administration of $30 million working capital fund for oil and gas service companies. The deal was signed recently in Abuja between the two government establishments. THISDAY

Agence Française de Development (AFD), a public sector funding agency promoted by the French Government, has expressed its willingness to support the Nigerian Ports Authority (NPA) in the area of modernisation and expansion of port infrastructure such as truck parks, and access corridors in Lagos. This move was geared towards making Nigerian ports competitive and cost efficient for businesses in Nigeria. This was made known when a team from AFD and the Lagos Metropolitan Area Transport Authority (LAMATA) recently visited the management of NPA to hold discussions on credit support for port infrastructure development, among other critical transport assets in the state. BUSINESSDAY

Determined to create cheap and interest friendly funds to enable ship owners acquire ships in order to compete favourably with their foreign counterparts, the Nigerian Maritime Administration and Safety Agency (NIMASA), has selected 11 indigenous ship owners to benefit from the N136.5billion that has accrued in the Cabotage Vessel Financing Fund (CVFF). The Cabotage Fund was established alongside the Nigerian Coastal and Inland Shipping (Cabotage) Act of 2003, to empower indigenous ship owners by enabling them to acquire vessels in order to take control of the nation’s coastal and inland shipping business, otherwise known as Cabotage trade. BUSINESSDAY

The Federal Government has commended the Nigerian Exchange (NGX) Limited for its efforts in ensuring that the Nigerian capital market (NCM) is deepened. The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, made the commendation during a courtesy visit of the management of the NGX, led by its Chief Executive Officer, Mr Temi Popoola, CFA. While acknowledging the commitment of NGX’s management, which culminated in the demutualisation of the exchange, Ahmed urged the management to leverage technology and innovations which could ease the processes of trading on the exchange and urged the NGX to ensure that ordinary citizens participated actively in the capital market. CITYBUSINESS

The Chartered Institute of Taxation of Nigeria (CITN) has commended the leadership of the Vice President Yemi Osinbajo in the implementation of key government interventions in the economy, stating that the Institute acknowledges his great zeal and commitment to Nigeria project. CITN noted this when the Institute’s delegation led by its president Adesina Adedayo visited the Vice President last week Friday at the Presidential Villa in Abuja. BUSINESSDAY

National Pension Commission, PenCom, Wednesday, announced President Muhammadu Buhari’s approval for the payment of outstanding pension liabilities of the Federal Government retirees under the Contributory Pension Scheme, especially retirees of Treasury-funded Federal Ministries, Departments and Agencies, MDAs. In a statement, the management of PenCom said: “The President has approved payment of outstanding accrued pension rights for verified and enrolled retirees of treasury-funded MDAs that retired but are yet to be paid their retirement benefits.“ VANGUARD

The federal government has acquired two mobile control towers worth N1.7 billion in order to further enhance coverage of Nigeria’s airspace and improvement of flight safety. The Minister of Aviation, Senator Hadi Sirika explained that the equipment would be deployed to the Murtala Muhammed International Airport (MMIA), Lagos and the Nnamdi Azikiwe International Airport (NAIA), Abuja and any other airport that may require the facility. Sirika who commissioned the equipment at the Lagos airport recently, said the aim of the present administration is to continue to improve safety in the industry. THISDAY