Aso Villa Reads for 18/11/2019
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
The Federal government has vowed to revamp Ajaokuta to produce steel, reiterating its commitment to encourage local investors in mine and steel sector to provide more job opportunities for Nigerian youths. Olamilekan Adegbite, minister for Mines and Steel, stated this yesterday during official visit to Kamwire Industries Limited, a local steel manufacturing company in Ilorin, Kwara State. Adegbite disclosed that government would consider total ban on steel importation to encourage local steel manufacturers. He said government was determined to stop importation of substandard steel products into Nigeria. “The Nigerian steel industry in Ajaokuta has become very emotional to the whole country. By the grace of God, with the President backing, we will deliver Ajaokuta. Ajaokuta will produce steel,” he said. “First, we are working with the Standards Organisation of Nigeria (SON) to address the issue of fake products. The ministry is not in control of the quality of steel products that come into the country, though we are responsible for steel production. “We’ll work with the standards agency to control what comes in. The ultimate aim is to ban steel importation totally. But before we do that, we will ensure we are able to satisfy local consumption from local production and still have excess to export. That’s where we’re heading,” the minister explained. Business Day reports.
Fund managers in the Nigerian economy appear to be enjoying a growth spurt so far this year. According to Business Day, In the first 10 months of the year, total net asset under management grew by 42 percent as fund managers added almost N260billion to their mutual funds according to data compiled from the Securities and Exchange Commission (SEC). As at the start of November, the total asset under management for Nigerian fund managers reached N881 billion, rising from N621.6 billion at the beginning of the year. The rapid growth in the mutual funds industry was skewed towards the money market and fixed income funds with both low risk funds accounting for up to 96 percent of the growth in the industry. Money market funds which makes up 75 percent of the mutual funds industry in Nigeria saw its segment grow by 39 percent so far this year, as investors poured up to N181.3 billion into money market funds which have enjoyed double digit returns for years. By the start of November, money market funds had grown to N646 billion, which was more than the size of the entire mutual industry at the beginning of the year. Local investors’ interest in low risk investment opportunities showed even more in the fixed income segment as the total fixed income funds more than doubled since the beginning of the year.
According to Punch, the Federal Government has paid 500,000 graduates who are engaged in its N-Power scheme a total of N360bn within two years. Speaking to journalists on the sidelines of an entrepreneurship show organised by Azuatalam Better Life Foundation in Abuja on Sunday, the Senior Special Assistant to the President on Social Investment Programmes, Ismaeel Ahmed, said the payments started in 2016. He said, “Through the N-Power programme, 500,000 graduates have been employed and are paid N30, 000 every month. “If you calculate that for the two years that they have been there, you will understand how much we’ve invested.” By paying 500,000 graduates N30,000 monthly for two years, the government had expended a total of N360bn. The special assistant added, “We have given 622,000 people N5,000 each, and these are the poorest of the poor who do not have any collateral to go to the bank to collect loans.” Ahmed said the TraderMoni scheme had also impacted millions of small businesses, as he lauded the initiative of the Azuatalam Foundation.
The Federal Government has commenced the 2019 promotion examination for civil servants. The affected civil servants are those from Salary Grade Level 06 to 13 under the pool of the Office of the Head of Civil Service of the Federation. The Director overseeing the office of the permanent secretary, I.A. Mairiga, announced this in a circular dated November 15, 2019. Mairiga signed the circular, marked HCSF/CMO/EM/AOD/073/VOL.1/4 and sighted by our correspondent on Sunday on behalf of the Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan. The director asked heads of ministries, departments and agencies to forward vacancy returns, APER scores and eligibility list in respect of eligible officers to the office of the HCSF. The circular read, “Officers within the field of selection for the 2019 promotion exercise on SGL 06 must have spent minimum of two years on their present grade while those on SGL 07–13 must have spent a minimum of three years by January 1, 2019. “For the avoidance of doubt, officers on SGL 06 must have obtained their last promotion by January 1, 2016. Punch reports.
The Federal Government has awarded itself pass mark for major steps taken so far to combat climate change; particularly the N10 billon generated from issuance of Green Bond, that is generating cleaner energy for seven universities using solar power. With an additional 30 universities coming on board soon to benefit from the scheme, it said showed that the country has taken giant stride in fulfilling its obligation to the Paris Agreement. Speaking on Nigeria take home from the 74th United Nation General Assembly, the Minister of Environment, Dr. Mahmoud Muhammad Abubakar said that Climate Change is a global challenge and we must all take the necessary action to abate it. According to Vanguard, the Minister emphasized that global temperature has risen over 1 degree Celsius and the quest now is to stay below 1.5 degree Celsius. Nigeria being a signatory to the Paris Agreement needs to take action that will reduce green gas emission. Enumerating the steps taking by the Federal Government of Nigeria to reduce green gas emission, the Minister said. “Toward mitigating Climate Change, Nigeria has undertaken planting of trees as trees have the capacity to absurd carbon dioxide which is one of the gasses that is causing global warming” Dr. Mahmoud added that the great green wall a project that cut across 11 countries in the upper North region of Nigeria and co-incidentally cut across 11 states in Nigeria. is also another effort of the Federal Government focused at combating Climate Change as lots of trees have been planted in this area with many more are to be planted Furthermore the Minister stated that the clean-up of Ogoniland is another milestone of the administration of President Muhammadu Buhari in its strive to combat Climate Change through ogoniland restoration.
This Day reported that the Federal Capital Territory Administration (FCTA) would in the middle of next year deliver three railway coaches from China for the operation of Lot 1A and 3 of the Abuja Light Rail service. FCT Minister, Muhammad Bello, made the disclosure at the weekend during the launching of the Safe, Functional and Efficient Transportation Policy in Abuja. He added that 10 additional metro stations segment on the Metro Station to Airport Station line are to be commissioned next year. Presently only three coaches are operational on the Lot 1A and 3 networks. The delivery of three additional coaches would bring the number of coaches in use on the network to six. “By next year, three of the coaches that are under construction in China would arrive. I also want to say that about 10 additional stations on the metro stations to Abuja airport line would be commissioned and we would have trains probably moving almost in intervals of 30 minutes,” Bello said.
The Federal Government in close collaboration with the World Health Organisation (WHO) launched the Noma Policy Document and National Triennial Action Plan Monday in Abuja to scale up awareness of the Noma disease, its prevention and care. The Minister of Health, Dr. Osagie Ehanire, who launched the policy document at this year’s National Noma Day, sponsored by the Hilfsaktion Noma e.V, with theme: ‘timely recognition averts deformity’, explained that Noma is an infectious disease which is generally associated with people living in extreme poverty. He explained that the disease evolves from small inflammations of the gum of the teeth and grows rapidly to severely destroy the soft tissue around the mouth, lips and face, creating bizarre and often terrifying orofacial disfigurements. Untreated, the mortality rate can be as high 80 per cent. According to him, “It is a disease that was once common around the world, but is now seen mostly in sub-Saharan Africa and in the Indian subcontinent. Noma is much more prevalent in communities with low nutrition status, poor personal hygiene and poor environmental sanitation standards. “The disease typically spreads quickly from and beyond its original location in the gum, to surrounding tissues; therefore, early detection and treatment are critical to preventing progression, especially since it responds relatively well to antibiotic treatment at the initial acute phase”. The Nation reports.
