Aso Villa Reads for 18/03/2019
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
According to Business Day (Monday 18 March, page 21) “following a successful pilot and significant uptick in repayments after the launch of the TraderMoni repayment scratch cards in January 2019, the GEEP team have now extended the cards for MarketMoni loan repayments and have commenced efforts to roll them out on a national scale. According to the Bank of Industry, the scratch cards were developed because most beneficiaries of the scheme do not have access to banks. The nearest bank to some of the markets is sometimes 20 kilometres or more away. As such, collection channels with wide coverage is required to drive collection. The new method of repayment leverages vouchers or scratch cards sold at key cluster/market locations with high numbers of petty traders.” The report revealed that “the cards are loaded the same way Telco recharge cards are loaded; loading the card automatically credits the beneficiary’s loan account, and updates their loan position. Also, beneficiaries can pay back their loans at any commercial bank in the country through the PayDirect platform. All a beneficiary has to do is walk into any bank and tell the Teller they want to pay their BOI-GEEP loan and give the teller their phone number and the repayment amount. With this, beneficiaries now have options for repaying their loans.”
“The Managing Director/CEO, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has hinted on the corporation’s plan to disengage Asset Management Partners (AMPs) that are not effective in recovering N740 billion debts assigned to them. The AMPs are currently handling over 6,000 accounts within AMCON portfolio but outsourced to them.” Daily Trust reports that “the accounts outsourced to the AMPs constitute only 20 per cent or N740 billion of the total Eligible Bank Assets (EBA) portfolio of N3.7 trillion. Kuru said AMCON places equal importance on the recovery efforts as they count towards the achievement of the corporation’s core mandate. He also promised that the corporation may assign more accounts to AMPs that have shown aggression and zeal based on the review of the AMP scheme so far.”
“Ogbonnaya Onu, Minister of the Federal Ministry of Science and Technology, wants the manufacturing sector’s contribution to Nigeria’s gross domestic product (GDP) to move from eight to nine percent currently to 18 to 30 percent to drive growth and jobs. Onu, who stated this at the closing ceremony of the 4th edition of the Nigeria Manufacturing and Equipment Expo, advised that the capacity of manufacturing sector should be well utilised to give the country economic prosperity, considering the abundance of raw materials and large market the country has.” Business Day (Monday 18 March, page 31) reported that the Minister said about this goal: “Imagine the impact we will have in the economy if manufacturing can move from 9 percent to 15 or 18 re 30% percent” he said. “We will be in a position to provide jobs, we will grow our of economy and will increase the gross domestic product of the country considerably”.” According to the report, Business Day stated that “manufacturing contribution to real GDP in the fourth quarter of 2018 was 8. 86, the National Bureau of Statistics said capacity utilisation in the manufacturing sector stood at 54.6 percent in 2018, according to the Manufactures Association of Nigeria (MAN).”
“The National Identity Management Commission, NIMC, and the Nigerian Immigration Service (NIS) have resolved to commence enforcement of the National Identification Number (NIN) on the new enhanced 10 years validity e-passport. The President had on Tuesday, 15th January 2019 while unveiling the new enhanced e-passport with a 10-year validity, directed that the NIN which is issued by the NIMC be inserted as additional data in the new passports. This was made known to the newsmen by Loveday Chika Ogbonna, Head, Corporate Communications National Identity Management Commission and Sunday James, Public Relations Officer, Nigeria Immigration Service. This resolve to commence enforcement was agreed upon during a courtesy call by the Comptroller General of NIS, Muhammad Babandede MFR to the Director General NIMC, Engr. Aliyu Aziz on Monday at the Commission’s headquarters. The DG/CEO NIMC, in his address stated that the Commission had upgraded its software and infrastructure to enable the generation of the NIN in just micro seconds. “Few months ago, we had an issue that made NIN generation take up to hours and people had to come back the following day. However, right now it is instantaneous and that is the way we intend to maintain the system. “The type of Automated Biometric Identification System (ABIS) we utilize makes sure that the NIN is unique –that is our only job,” Said Engr. Aziz. Business Day (Monday 18 March, page 49) reported this.
According to Voice of Nigeria “the Nigerian National Petroleum Corporation, NNPC, declared a trading surplus of N12.13 billion in its financials for December 2018. Group Managing Director of the NNPC, Dr Maikanti Baru In a statement on its Monthly Financial and Operations Report for December 2018, signed by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu,said its positive financial performance in the month under review was in spite of disturbing reports of breaches on its assets. Ughamadu attributed the positive swing to higher revenue numbers posted by the NNPC’s upstream subsidiary, the Nigerian Petroleum Development Company, NPDC, which was targeting a 500,000 barrels per day, BPD, crude oil output by 2020. He cited NPDC’s continuous revenue drive arising from recent average weekly production of 332,000 BPD as the main driver of the positive outlook.”
“The Coordinator of National Emergency Management Agency (NEMA) Lagos Territorial Office, Mallam Idris Muhammed, has received 174 repatriated Assisted Voluntary Returnees. Idris disclosed that with this batch, the total number of stranded Nigerians repatriated back from Libya makes it 12,574 Assisted Voluntary Returnees.” Daily Times reports that “in addition, Mallam Muhammed revealed that over 4,900 of the Returnees have been trained on various skill acquisition and empowerment training by IOM through Special Funding facilitated by the European Union. He said most of them have set up various businesses in their choice of occupation. He explained that the Thursday this week flight was the 64 flights since the Programme of Assisted Voluntary Returnees initiated by EU but being implemented by IOM started in April, 2017. The Returnees were brought back aboard Al Buraq Airline in Boeing 737–800 aircraft with flight number UZ 389–390 and registration number 5A-DMG from Sebha City and arrived Cargo Wing of MMIA, Ikeja, Nigeria at about 9:45 p.m. Details on the new Returnees indicated that 62 adult females, 11 female children and 11 female infants made the total of 84 females while the males were composed of 74 male adults, 12 male children and 15 male infants making a total of 90 males that were brought back.”