Aso Villa Reads for 18/08/2021

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

The Federal Government on Sunday announced that it had commenced the reactivation of the 35 hectares farm estate in Imo State that was abandoned for more than 30 years. It signed a Memorandum of Understanding with the Imo State Government for the reactivation of the Acharaugo Emekuku Integrated Farm Estate in Owerri North Local Government Area of the state. The government disclosed this through the National Agricultural Land Development Authority in a statement issued in Abuja by NALDA. The Executive Secretary, NALDA, Paul Ikonne, who inspected the farm estate in Imo State and a fish village in Abia State, said both projects were been developed to engage about 800 workers.[Punch]

The Minister of State for Budget and National Planning, Clem Agba, has disclosed that a total of N34 billion has been set aside by the federal government for the development of rural roads, with additional N17 billion added to it, under the sustainability planning. Agba explained further that the above figures added with the N8 billion from the 2021 budget for rural development, brings the total to N59 billion. He noted that, community development is a primary responsibility of the sub-national government, and not the federal government alone.[This Day]

President Muhammadu Buhari, on Monday, signed the Petroleum Industry Bill, PIB, 2021 into law. According to the statement disclosed by Special Adviser to the President on Media and Publicity, Femi Adesina, “Working from home in five days quarantine as required by the Presidential Steering Committee on COVID-19 after returning from London on Friday, August 13, the President assented to the Bill, Monday, August 16, in his determination to fulfill his constitutional duty.[Vanguard]

The President, Major General Muhamamdu Buhari (retd.), has commenced implementation of the newly signed Petroleum Industry Act by approving a steering committee to oversee the process. A statement issued on Wednesday by the Special Adviser to the President on Media and Publicity, Femi Adesina, revealed that the steering committee will be headed by the Minister of State, Petroleum Resources, Timipre Sylva. Others in the committee are Permanent Secretary, Ministry of Petroleum Resources; Group Managing Director, NNPC; Executive Chairman, FIRS; Representative of the Ministry of Justice…[Punch]

The group managing director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has reiterated the corporation’s commitment to supporting the Nigeria Liquefied Natural Gas (NLNG) Limited towards achieving its goal of becoming a global LNG company of choice. Speaking at the 2021 NLNG Health Safety and Environment (HSE) Day, the GMD, who was represented by the group general Manager, LNG Investment Management Services (LIMS), Nike Kolawole, said HSE was a critical determinant of business performance success across the oil and gas industry. Kyari stated that, as a principal shareholder in the company, NNPC would continue to ensure that NLNG placed more emphasis on HSE.[Leadership]

Nigeria’s state-owned Bank of Industry plans to raise as much as N362 billion ($883 million) from international debt markets this year for lending to companies hampered by the Covid-19 pandemic in Africa’s largest economy, according to a Bloomberg report. Financial advisers have been appointed for the issue, Olukayode Pitan, chief executive officer said in a virtual interview without providing details. The lender will raise ‘anywhere between 500 million to 750 million Euros,’’ he said. The bond proceeds will be deployed to areas of priority including health care, transportation, education, solid minerals and agriculture, he said. [Pg 4]