Aso Villa Reads for 15/07/2021
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
The Debt Management Office (DMO) has offered for subscription N150billion Federal Government of Nigeria (FGN) bonds which is set for auction next Monday, July 19, 2021. In a circular, the DMO said the bond auction which would now hold on Monday as against the usual Wednesday is in line with its establishment Act 2003 as well as the local loans ( Registered Stock and Security Security) Act, CAP,L17, LFN 2004… BUSINESSDAY
Yields are increasing across segments of the fixed income market as average yield in the FGN Bond market advanced to 11.82 percent on June 30, 2021 from 6.12 percent at the beginning of the year, according to FSDH Research. This is a further increase from 9.82 percent at the end of the quarter (Q1) 2021. Rising yields are driven by the numerous liquidity management strategies of the CBN to stabilise the market which includes to introduce the CBN’s Special Bill; week on week OMO auctions; direct debit on banks’ cash balance. BUSINESSDAY
The Bureau of Public Enterprises (BPE) is hopeful of generating over N493.40 billion net revenues this year from the privatization of up to 36 government assets to help fund the N13.6 trillion current budget. Alex Okoh, BPE Director-General, BPE who announced this Monday in Abuja said the targeted projects have been categorised under five segments with 22 of them carried over from 2020. Okoh said Energy component has been projected to generate some N484.476bn; Industries and Communications, N9.239bn; while Post Transaction Management would bring in N212.458bn. BUSINESSDAY
The Federal Executive Council (FEC) has approved the construction of five roads in the country worth N309 billion. The roads are located in Borno, Kaduna, Lagos and Ogun States. The Minister of Works and Housing, Babatunde Fashola, disclosed this to journalists after the meeting of the council in Abuja on Wednesday. He said the roads, totalling 274.9 kilometres, would be constructed by Dangote Group of companies under the tax credit policy of the Nigerian government. PREMIUMTIMES
The federal executive council (FEC) on Wednesday approved the formation of the Special Police Services. Garba Shehu, senior special assistant to the president on media and publicity, said that the new unit will formalise the deployment of police officers as escorts to VIPs and as guards to big corporations. Speaking after the FEC meeting in Abuja, he said that the approval was in the interest of transparency and accountability. HERALD
