Aso Villa Reads for 12/7/2019

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

According to PREMIUMTIMES “The federal government has approved N208 billion as the 2019 intervention funds for public higher institutions across the country. The reinstated TETFund Executive Secretary, Suleiman Bogoro, made this known at the annual meeting with the heads of TETFund beneficiary institutions in Abuja on Thursday. According to Mr Bogoro, the annual direct disbursement of N826.6 million was allocated to each university while N566.7 million was allocated to each polytechnic and N542. 2 million to each College of Education in Nigeria. Nigeria has 43 federal universities and 48 state universities. Mr Bogoro said most of the structure in Nigeria institution are from TETfund interventions. “Education intervention has been consistent despite the fall in oil price. We spent nearly one hour with the board discussing this issue of expanded, everyday increasing number of beneficiary institutions so much so that application of the funds are being whittled and so the impact is reducing day by day,” he said. Mr Bogoro expressed concerns over the growing number of public tertiary institutions and their effect on the application of funds provided. “18 institutions across the six geopolitical zones are beneficiaries of the Special High Impact Intervention. Six Universities, six polytechnics and six Colleges of Education received N1 billion each,” he said. Mr Bogoro said the organisation has fallen in the standard of their scholarship scheme and the issues of stranded scholars have been revisited. “Pivotal payment has commenced for stranded TETfund stranded scholars. We even told the head of institutions that we might not release any fund until we sort the stranded scholars and since we started about three months ago, the number has risen to 400,” he said. Mr Bogoro also urged desk officers to stop making demands from scholars in the institutions.”

According to THE NATION “President Muhammadu Buhari has directed the production and personalisation of all E-passports and related documentation shall be the sole responsibility of the Nigerian Security Printing & Minting Company (NSPMC). Popularly known as The Mint, the company was established in 1963 with the objective of producing the nation’s currency notes and coins for the Central Bank of Nigeria as well as security documents for Ministries, Departments and Agencies of government, banks and other blue chip companies. A statement by the Special Adviser on Media and Publicity, Femi Adesina, said that with the new directive from the President, all existing memoranda of understanding and contracts on printing by other institutions/ companies will not be renewed. It reads: “The Mint is the largest banknote and security documents specialist printing company in West Africa. “However, its performance was rapidly dwindling in terms of both currency production and security documents prior to 2014.” Under the chairmanship of the Central Bank Governor, Mr Godwin Emefiele, new targets were set and Managing Director/Chief Executive Officer of The Mint, Mr Abbas Umar Masanawa, recounted some of the achievements to include: zero importation of currency from 2014 to date, with attendant benefits of conservation of foreign reserve, revenue and employment generation, as well as safeguarding the nation’s sovereignty. Masanawa said further: “The Mint has returned to profitability. From a moribund organisation with heavy losses, the company grew from a loss position of N14. 6 million in 2014 to a profit of N14. 3 billion in 2018. Turnover also grew from N17.8 billion in 2014 to N61. 4 billion in 2018. “Other achievements include enhanced production capacity, revenue diversification, reduced cost of production, institutionalization of corporate governance, improved staff welfare and industrial harmony, among others.” The Managing Direction pledged The Mint would justify the renewed confidence reposed in it by the President, “as we are moving to the Next Level, and poised to boost national security and integrity, we will conserve scarce foreign exchange, improve revenue generation, create job opportunities, and boost acquisition/transfer of technology.”

“According to DAILY TIMES “The Chairman of the Nigerian Railway Corporation (NRC), Engr. Ibrahim Alhassan, says all is set for the commencement of commercial operation on the Lagos-Ibadan standard gauge project. The federal government has set aside October for the commencement of commercial passenger and cargo activities on the project being undertaken by the China Civil Engineering and Construction Company (CCECC). Speaking on Thursday when he led 24 other members of the corporation on an inspection of the 156-kilometre project, the NRC boss noted that the federal government has ordered massive rolling stock; a conference coach and a super sleeper with a spa were among other facilities currently on order. According to him, two Diesel Multiple Unit (DMU) of 30 coaches which would be delivered before December. Alhassan added that with one of the tracks already at Kilometre 154, what remains are the two branch lines, one, into the works yard and other connecting the Ibadan dry port. He envisaged that these would be completed by July end. The chairman also unveiled a conference coach where the board held its inaugural meeting. Most of the board members expressed surprise at the ongoing railway transformation which they said they were experiencing for the first time. According to him, the government would want a situation where corporate organizations would hold their board meetings or conferences on the train’s conference coach. The chairman who spoke after a train ride to Lagos said, “This trip has been a richly rewarding trip for most members of the board and the feedback we got from so many of them indicated that they were not only happy but are in a better position to appreciate the federal government”, he said. Tags: China Civil Engineering and Construction Company (CCECC)Engr. Ibrahim Alhassanlagos-ibadan railwayNigerian Railway Corporation (NRC)”

According to DAILYTIMES “The Federal Government has saved over N288 billion through the implementation of the Integrated Personnel and Payroll Information System (IPPIS) from April 2007 till date. Office of the Account General of the Federation (OAGF) revealed this on Thursday in Abuja when the Head of the Civil Service of the Federation visited the office on Peer Review Mechanism of Ministries Departments and Agencies (MDAs) exercise. The presentation was made by the Director of Information Technology Department of the OAGF, Mr. Afolabi Ajayi. Ajayi said the IPPIS scheme was one of the Federal Government’s reform initiatives designed to achieve a centralised payroll system of the Federal Government. He said that the IPPIS also facilitated easy storage, updating and retrieval of personal records for administrative and pensions processing to aid manpower planning and budgeting as well as to comply with global best practice. Ajayi explained that money saved was as a result of the difference between the amount government would have released to those MDAs based on appropriation and the actual amount released and paid through IPPIS. “The IPPIS has made it possible for prompt and regular payment of salaries to public servants. “The system has also facilitated prompt deductions and remittances to the accounts of all third parties stakeholders such as PFAs, NHIS, NHF and cooperative societies. “506 MDAs with total staff strength of 344,625 are on the IPPIS platform with the gross pay of about N49.07 billion as at Sept. 2018,” he disclosed. Ajayi revealed that the Federal Government had also collected over N10 trillion from the implementation of the Treasury Single Account (TSA) from 1,674 MDAs. He said that under TSA, government was able to save over N45 billion monthly in interest on ways and means that it used to pay before the full implementation of the TSA. Ajayi disclosed that N50 billion had so far been mopped up from commercial banks as a result of TSA implementation.”

According to THISDAY “The Central Bank of Nigeria (CBN) last night introduced fresh rules for accessing its Standing Deposit Facility (SDF). The SDF is the rate at which commercial and merchant banks deposits funds with the CBN. The CBN stated this in a circular dated July 10, 2019, that was signed by its Director, Financial Markets Departments, Dr. Angela Sere-Ejembi. It made reference to the circular to all banks and discount houses, Re: Guidelines on Accessing the CBN Standing Deposit Facility, Ref: FMD/DIR/GEN/CIR/05/020 and dated November 6, 2014. Following the review, the central bank stated that: “The remunerable daily placement by banks at the SDF shall not exceed N2 billion. The SDF deposit of N2 billion shall be remunerated and the interest rate prescribed by the Monetary Policy Committee from time to time. “Any deposit by a bank in excess of N2 billion shall not be remunerated. The provisions of the circular take effect from Thursday, July 11, 2019.”

According to GUARDIAN “THE presidency has declared that the Federal Government’s National Home-Grown School Feeding Programme, (NHGSFP) now feeds over 9.8 million pupils daily in 32 states as Yobe joins the programme.Under the scheme, school children in over 53,000 public primary schools are fed with one free, nutritious meal a day, while it has engaged over 106,000 cooks in the 32 states. A statement by Senior Special Assistant on Media and Publicity, Laolu Akande, last night explained that the government targets to reach over 12 million pupils in all the 36 states and the FCT in the second term of the administration. In the same vein, the Government said it had commenced distribution of alluminium bowls and spoons for pupils in public primary schools in six states currently benefiting from the feeding Programme. Under the first phase of the distribution, over 2.4 million bowls and spoons would be distributed in Plateau State (314,082), Adamawa (182,144), Kaduna (834,130), Katsina (742, 689), Oyo (199, 922), Delta (136, 710) and Ebonyi (73, 513).”

According to HEARLD “Vice President Yemi Osinbajo on Wednesday at the Presidential Villa, Abuja, met with a delegation of the London Stock Exchange Africa Advisory Group, led by its Chairman, Suneel Bakhshi. Bakhshi, who spoke with State House correspondents after the meeting, said that the group had a mission on behalf of the London Stock Exchange to help deepen the African Stock Exchange. He said that Nigeria was a very important country in Africa and also a strategic partner. “So, we are working very closely with the Nigerian Stock Exchange on a number of initiatives to help deepen the Nigerian Capital Market. “One example, we are launching tomorrow in Lagos, programme titled-Companies to Inspire Africa; we have indentified many companies that deserve to be recognised and these are SMEs which will benefit from the greatest visibility that we can provide. “In all emerging markets including African markets, there is a need for greatest transparency; greater liquidity; for greater standardisation and for greater innovation and our belief and principle in setting up the Africa Advisory Group is that London can Exchanges such with the Nigerian Stock Exchange to the benefit of the local Capital Market. “So, that is just one example; we had a very good discussion today on topic of linking financing better from Pension Funds to infrastructure; that is an area that will be referenced in white papers that we have produced last year and the London Stock Exchange is partnering with our advisers here. “They have produced five white papers around a variety of topics and they include Green Bond Financing, SMEs financing and Standardised Information Reporting,’’ he said. He said that all the examples would help to deepen the stock market and provide liquidity so that investors and shareholders in African and Nigeria with greater confidence could finance entrepreneurs and finance companies listed on Exchanges. On her part, Ms Catriona Laing, the British High Commissioner to Nigeria, said that the group would offer some of the studies that it had done through looking across Africa about what worked in terms of deepening and strengthening stock markets.”

According to NIGERIAN TRIBUNE “the Federal Government has pledged commitment towards transforming the public service to top-notch service delivery. Secretary to the Government of the Federation, Mr Boss Mustapha, who made the disclosure at a meeting of secretaries to the state governments and permanent secretaries/heads of cabinet affairs offices of states in Lagos, sought effective collaboration with state governments to facilitate the transformation process. He insisted that public service delivery in Nigeria must be of the best quality such that security and infrastructure are assured as the nation marches onto the next level. Mustapha added that the office effectively manages the policy-making process to enable governments take informed decisions required to address the numerous development challenges facing the country. He said policy making and management are the most demanding and critical functions of government at all levels, adding that they require core competences and capabilities, especially from the cabinet affairs offices which are tasked with managing, coordinating and tracking the processes. According to him, empirical evidence suggests that the development of any country largely depends on the policy options the government chooses and implements. He said: “Sound policy decisions bring about good public policies and effective service delivery, although it is dependent on the political will to follow through to implementation. “It is, therefore, our duty to ensure that we take full advantage of this opportunity to advance good policy options for the greater good of our nation. I know the task is enormous, but with renewed zeal and total commitment to our mandates, we shall deliver.”