Aso Villa Reads for 04/06/18
Every day, we bring you the best stories the media is reporting about the Government of Nigeria.
“The Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar, has revealed that the Federal Government has adopted the Nigeria Agribusiness and Agro-Industry Development Initiatives (NAADI) programme to boost industrialisation. Speaking at the flag-off and official commissioning of the Uyo, Akwa Ibom Zonal Office for the implementation of NAADI, the minister gave assurance that the industrialisation of the nation’s economy will be fast tracked with the establishment of effective linkage between agriculture and industry. The minister, who was represented by the Permanent Secretary of the ministry, Mr Edet Sunday Akpan, explained that NAADI was developed by the ministry in line with the Nigeria Industrial Revolution Plan (NIRP) as derived from the framework produced by the United Nations Industrial Development Organisation.” Daily Trust reported.
“Nigeria as the largest economy in Africa has the potential for a larger capital market that offers better returns for any prospective investor now and in future, according to government and private sector representatives at the 5th edition of the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE) Dual Listing Conference held Friday in Lagos.” Business Day reports that “the Nigerian Stock Exchange continues to increase its product offerings to the investing public with the listing of securities such as the $300m Diaspora Bonds and $3bn Eurobonds in 2017, the N100billion Federal Government Ijarah Sukuk and the Sovereign Green Bond. These add to the nation’s funding options to catalyse the rebound of Nigerian economy and offer investment alternatives to the vast majority of Nigerians.”
Vanguard reported that “the Federal Government, weekend, revealed that the actual remediation exercise for the clean-up of Ogoniland in Rivers State would commence by August ending. The Minister of Environment, Ibrahim Jubril, disclosed this in Abuja, while addressing journalists ahead of the World Environment Day. Giving updates on the clean-up, the minister said that advertisement was done in April and more than 400 contractors indicated interest in the remediation exercise. According to him, they have been doing their analysis, which is completed now, and preliminary figures indicate that about 140 are prequalified. Jibril added that about three weeks ago, the Board of Trustees was able to sign an escrow agreement in the presence of the Vice President.”
“To reach more Nigerians with official information and increase public engagement, the Presidency has unveiled a weekly email newsletter. A statement by the Presidency Office of Digital Engagement said the online newsletter would be made available to subscribers on Mondays. Intending subscribers are encouraged to sign up at bit.ly/GovtAtWork to join the mailing list.” According to Punch, “the online publication titled Government at Work, based on the statement, will highlight public projects, policies and plans of the Federal Government. The newsletter is part of the government’s digital media optimisation. The digital media team of the Presidency had, in recent months, rebranded online pages of President Muhammadu Buhari and those of the State House and unveiled new ones.”
“The recently approved excise duty for alcoholic beverages and tobacco will take effect from Monday, 4th June 2018. President Muhammadu Buhari had approved the amendment to the excise duty rates in March. Minister of Finance, Kemi Adeosun had said the reviews would be from 2018 to 2020 and was to raise the government’s fiscal revenues. She also said it would reduce the health hazards associated with tobacco-related diseases and alcohol abuse.” This Day reports that “under the review, beer and stout will attract 0.30k per centilitre (Cl) in 2018 and 0.35k per Cl each in 2019 and 2020. Wines will attract N1.25k per Cl in 2018 and N1.50k per Cl each in 2019 and 2020; while N1.50k per Cl was approved for spirits in 2018, N1.75k per Cl in 2019 and N2 per Cl in 2020.”
“The European Union and Germany, in conjunction with the Federal Government, have inaugurated two solar-powered plants with a combined capacity of 100 kilowatts in Plateau State under the €24.5m (N8.75bn) Nigerian Energy Support Programme. The EU and the government of Germany jointly finance the NESP, and the solar-powered mini-grids inaugurated in Plateau State are among the six projects implemented under the energy support programme. It was gathered in Abuja on Sunday that the six projects established in remote areas not connected to the national power grid would provide electricity to over 10,000 people in Ogun, Niger, Plateau, Sokoto and Cross River states. The Head of Development Cooperation, EU Delegation to Nigeria and the ECOWAS, Mr. Kurt Cornelis, explained that one core area of the NESP was in supporting sustainable energy access in off-grid areas in Nigeria.” Punch reported.
According to a report by Business Day, “Udoma Udo Udoma, Minister of Budget and National Planning, on Thursday reiterated a positive economy for Nigeria in 2018. The minister, speaking on Delivering Economic Resilience and Growth at the Financial Times Nigeria Summit in Lagos, said that government is committed to initiatives such as the ERGP focus labs aimed at attracting sufficient private sector investments. He indicated that, as part of the implementation of the ERGP, there have been substantial increases in capital allocations to priority sectors such as infrastructure and agriculture, with capital releases of over N1.2 trillion under the 2016 Budget, and almost N1.5 trillion under the 2017 Budget. Pointing to the recently concluded first phase of the focus labs, the Minister said over US$22.5 billion worth of potential private investments were identified, out of which projects with an investment value of up to US$10.9 billion could be categorized as most ready to go.”
“Presidency this week released what it described as ‘Factsheet’ on the achievements of the policies and programme, under the Buhari Administration since it assumed office three years ago. The 41-page document highlights successes in the Economy, Security and the fight against Corruption — the three priorities of President Buhari’s Change Agenda. The document which is to be updated regularly according to a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, is warehoused and it’s opened to public scrutiny on the State House website: http://statehouse.gov.ng/wp-content/uploads/2018/05/BUHARI-ADMINISTRATION-3RD-YEAR-FACTSHEET_MAY-29-2018-1.pdf. The Presidency credited the Buhari administration as restoring Nigeria’s economy to the path of growth, after the recession of 2016–17.” So writes Business Day.
“Federal Capital Territory Administration (FCTA) has concluded arrangement for the commissioning of the $823 million (N299 billion) Light Rail project the end of June. Anthony Agbakoba, Chief Resident Engineer of the Abuja rail project stated this while conducting journalists round the 78km Abuja Light Rail project. He explained that the physical infrastructural work on Lot 1A and 3 of the project, such as laying of tracks, signalling system and other components was already 100 percent completed. According to him, Muhammad Bello, FCT Minister would be signing agreement for the manufacturing of 12 set of trains, comprising four coaches each, with 1000 persons capacity, which would take 18 months to deliver, adding that the trains would be manufactured to specification, in line with the precise measurements of the entire Abuja rail system” Business Day (Monday, 4th June 2018, Page 47) reported.
