Aso Villa Reads for 11/09/2020
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
The Federal Government on Thursday flagged off two schemes to financially support about 1.7 million micro, small and medium enterprises across the country with N75bn. At a briefing on the flag-off of the National MSME Survival Fund and the Guaranteed Off-take Stimulus Schemes under the Nigeria Economic Sustainability Plan, the Minister of State for Industry, Trade and Investment, Mariam Katagum, said the schemes would impact positively on businesses. The Economic Sustainability Plan was approved by the Federal Executive Council on June 24, 2020 following its initiation by the Economic Sustainability Committee that was established by the President, Major General Muhammadu Buhari (retd.), on March 30. The committee, which is chaired by the Vice President, Prof. Yemi Osinbajo, comprises several ministers and the Group Managing Director of the Nigerian National Petroleum Corporation as well as the Governor of the Central Bank of Nigeria. In her address at the briefing, Katagum stated that in keeping to its promise to support businesses overcome the challenges posed by the COVID-19 pandemic, the Federal Government was set to commence nationwide implementation of the two MSME initiatives. Katagum said the N60bn MSME Survival Fund and the Payroll Support schemes would be rolled out first, adding that the N15bn Guaranteed Off-take Scheme would then follow. She said, “Both schemes are at the core of the N2.3tn stimulus package, also known as the Nigeria Economic Sustainability Plan being implemented to help cushion the impact of the COVID-19 pandemic. This is with a view to boosting the economy by saving existing jobs and creating new job opportunities.”[Punch]
The Federal Government has constituted a committee to draw up guidelines for the disbursement of the N10bn palliative fund for road transport operators and workers, Punch reports. Minister of State for Transportation, Gbemisola Saraki, disclosed this in Abuja while receiving officials of the National Union of Road Transport Workers, led by their National President, Tajudeen Lawal. In a statement issued on Thursday by the Director, Public Relations, Federal Ministry of Transportation, Eric Ojiekwe, the minister urged the unions to work towards having one recognised body that the ministry could deal with. This, she said, would ensure that the fund was disbursed as soon as possible, adding that it would be counter-productive to delay the disbursement. Saraki commended the transport workers for their perseverance during the lockdown, stressing that this was despite the fact that their livelihoods were disrupted. On his part, Lawal told the minister that member of the NURTW suffered directly and indirectly during the pandemic and prayed that the ministry concedes a larger portion of the palliative to its members.
The President, Major General Muhammadu Buhari (retd.), on Thursday, received the newly re-elected President of African Development Bank, Dr Akinwumi Adesina, at the Presidential Villa, Abuja. He seized the opportunity of the visit to again congratulate Adesina and reinstated his confidence in his ability to do more for the continent in his second term. The Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed this in a statement titled “President Buhari receives AfDB President, Akinwunmi Adesina, tells him ‘nothing succeeds like success’.” The presidential spokesman qouted Buhari as saying, “I congratulate you on your second and final term in office. Congratulations on winning the election. Nothing succeeds like success. “I have told so many people why I backed you. In 2015, at your first term, you were a Minister with the Peoples Democratic Party government, and I was of the All Progressives Congress. But you are a good Nigerian. So, I recommended you the first time. You proved to be competent, you made us proud, and I recommended you the second time.” The President commended Adesina for his support for Africa in general, and Nigeria in particular, stressing that the infrastructural deficits the country like roads, rail, and power, could not be overcome without support. “There can’t be sustainable development without infrastructure. Our efforts should be seen in the context of lack of resources, but you do your best to support us. I wish you all the best in your final term,” Buhari added.[Punch]
Nigeria’s President Muhammadu Buhari has again appointed the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, as a member Special Purpose Vehicle (SPV) for Presidential Power Initiate. This is contained in a statement signed by Dr Umar Jibrilu Gwandu, Special Assistant on Media and Public Relations Office of the Attorney-General and Minister of Justice and made available to newsmen in Abuja on Friday 11th day of September 2020. Inaugurating the Committee on Thursday, President Muhamamdu Buhari who described power sector as one of the most critical components of sustainable development, expressed commitment to improving the delivery of power in the country as his enduring and defining legacy. He said following the Federal Executive Council Approval, the coast is now clear and the SPV has the responsibility of executing the Presidential Power Initiative (PPI), providing project management for the implementation of PPI and serve as the key manager to ensure cohesion and seamless execution.[Vanguard]
Justice Cranston J. of UK court has ordered Process and Industrial Development, P&ID, to make payment of £1.5 million to cover the legal cost incurred by Nigeria, as part of successful application for extension of time to challenge the arbitration award and procedural hearing earlier in the year. The judge gave the order, yesterday, as Nigeria appeared for a scheduled hearing. The payment is to be made within 21 days. The hearing, yesterday, followed the major victory secured by the Federal Government, last Friday, which allowed it to bring a fraud challenge against a $10 billion arbitration award obtained by P&ID well outside the normal time limits. Yesterday’s hearing was held to decide procedural and cost issues relating to the federal government’s applications to challenge the arbitration award and determine the short term directions to trial. With this, Nigeria will now proceed to a full trial, while a case management conference to determine the full trial windows would take place after November 2020. Reacting to the development yesterday, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, said in a statement by his spokesman: “This is another crucial win for Nigeria in our ongoing fight against the vulture-fund-backed P&ID. “We are pleased that the English Courts have taken our fraud challenge seriously, and awarded us a substantial interim payment in respect of our successful application for an extension of time to challenge the award.”[Vanguard]
This came as a reversal of his position expressed in a live interview on Arise TV on Wednesday, when he gave indication that the government would keep the window of negotiation with P&ID open.
“Generally speaking, when it comes to judicial proceedings or perhaps arbitral proceedings for that matter, one cannot rule wholeheartedly with clear finality, conclude that there should not be perhaps any room for the possibility of settlement,” he had said in the interview when asked about the possibility of a settlement talks with P&ID
But a statement by Malami’s spokesman, Umar Gwandu, on Thursday, the minister was quoted as saying that that the government would not negotiate with P&ID as the process leading to the arbitral award it obtained against Nigeria was rooted in fraud.
Malami said, “There will be no negotiation or talk of settlement with P&ID or any related party by or on behalf of the Federal Government of Nigeria.
“The recent judgment of the English Commercial Court confirmed our view that P&ID and its cohorts are fraudsters who have exploited our country. They will not benefit from their corrupt behaviour.”
He said it was “a classic case with overwhelming fraudulent and corrupt undertones”, adding that the P&ID transaction did not fall into the category general principle of settlement talks that he expressed on Arise TV on Wednesday.
He added, “The Federal Government of Nigeria is not considering any possibility of negotiations with P&ID.
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“It has not only fallen within the tall order exception referred to by the Hon Attorney General in his interview with Arise TV yesterday, but lacks any legitimate foundation.
“We will not and cannot negotiate arbitral awards where the basis and foundation rely on fraud, corruption, breach of processes and procedures.
“The Government remains wholly committed to fighting this case to overturn the exorbitant award without paying a single naira of public money to these fraudsters.”
