Aso Villa Reads for 2/07/18
Every day, we bring you the best stories the media is reporting about the Government of Nigeria.
“Nigeria’s current account witnessed a positive outcome in the first quarter of 2018, recording a higher surplus of US$4.5bn as against a surplus of US$3.6bn in the previous quarter and US$3.4bn in the corresponding period of 2017. The development was largely attributable to the increased export earnings and the net surplus in current transfers, according to the Central Bank of Nigeria (CBN). The Apex bank on Friday, released its first quarter brief on balance of payments statistics, which revealed that provisional Balance of Payments (BOP) estimates for Q1 2018 showed a significant improvement in the country’s position as the overall balance of payments indicated a surplus of US$7.3bn compared with a surplus of US$6.2bn in the preceding quarter. The report indicated that earnings from non-oil and electricity ex-ports also increased by 12.3 per cent to US$967.08m in Q1 2018 when compared with the preceding quarter.” Business Day (Monday, 2nd July 2018, Page 2) reported.
According to Business Day (Monday, 2nd July 2018, Page 44), “Afam VI power plant in Rivers State is ready to deliver its net dependable capacity of 624MW into the Nigerian national grid barring any regulator’s restrictions, even at a time power generation has suffered a deep plunge following reported outage of some thermal power stations. Managing Director of The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor, told newsmen in Abuja on Tuesday that the SPDC Joint Venture-owned combined cycle power plant is ably maintained to consistently deliver its net dependable capacity of 624MW from an installed capacity of 650MW with its three gas turbines and one steam turbine. Afam VI, which uses combined cycle gas turbine technology that burns 40 percent, less gas than plants using older open cycle technologies also contributes significantly to the reduction of greenhouse gas emissions.”
“Nigeria’s Federal Government is planning to set up a special company to effectively complete the Mambilla hydro project, 36 years after the power project, which holds up to 3,050 megawatts promise to the grid, was conceived. Finance Minister, Kemi Adeosun confirmed government’s plan to adopt a project risk model, and the whole idea is to ensure a record time completion, sustainability and also guarantee that the long-term project was not truncated by successive administrations. The Federal Government and China Export Import (EXIM) Bank would jointly finance the project, as the finance minister confirmed and would see Nigerian government commit 15 percent while the EXIM Bank will provide 85 percent of the cost.” Business Day (Monday, 2nd July 2018, Page 45) reported this.
Business Day (Monday, 2nd July 2018, Page 45) reports that “the Federal Government is set to collaborate with China to digitalize the process of governance and assist in curbing corruption and ensure transparency in the country. Vice President Yemi Osinbajo stated that it is important to digitalise the governance process in order to overcome graft, as the nation would leverage on its partnership and relations with the People’s Republic of China to achieve this. Osinbajo stated this in Abuja last week at the seminar on China-Africa Cooperation in Information Technology and Digital Economy organised by the Nigeria Institute of International Affairs. The Vice President who was represented by his special adviser on ICT, Lanre Osibono, said it is important to digitise the government process, as it will help with transparency and even curb corruption.”
“Udoma Udo Udoma, Minister of Budget and National Planning has inaugurated the Aid Transition Plan (TWGNATIP) to address funding gap in Nigeria. The minister in a statement signed by James Akpadem, S.A media to the minister, in Abuja said that the group is mandated to develop a comprehensive strategy for addressing the funding gap that may arise with the scaling down of development partner funding in Nigeria. The minister said the initiative is in line with the resolve of current administration to drive effective planning as the bedrock of its developmental strategy and be proactive in the face of emerging challenges. He added that the strategy would serve a dual purpose with the inclusion of a credible decision framework for mainstreaming affected programs into the budget.” Business Day (Monday, 2nd July 2018, Page 45) reported this.
“Nigeria’s total export earnings increased by 10.2 percent to $14.394 billion in the first quarter (Q1) of 2018 compared with the $12.925 billion recorded in Q4 2017. The Central Bank of Nigeria (CBN) disclosed this in its Q1 2018 ‘Brief on Balance of Payments Statistics,’ posted on its website. The growth in the country’s export earnings in the review period also indicated an increase of about 44.4 percent when compared to Q1 2017. But earnings from crude oil and gas, which accounted for 93.3 per cent of total export earnings during the review period, increased by 10.1 per cent to $13,426 billion in Q1 2018, when compared with the preceding quarter. Also, available data showed that payments for import of goods (free on board) to the economy in the review period grew by 13.9 per cent to $8,642 billion above the level recorded in the preceding period. This was attributed largely, to a 99.5 per cent increase in the imports of petroleum products.” So writes This Day.
“The Nigerian Communications Commission is set to enforce resolutions to address complaints of telecommunication consumers. The Deputy Director, Consumer Affairs Bureau, Alhaji Ismail Adedigba, said this during the 84th edition of the Telecom Consumer Parliament, which was organised by the NCC in Abuja. While presenting the welcome address of the Director of Consumer Affairs Bureau, Mrs Felicia Onwuegbuchulam, he stated that the TCP as well as other interface engagements designed by the commission, such as the Consumer Outreach Programme and Consumer Town Hall Meeting, were usually held for effective engagement of telecoms consumers.” According to Punch “Some of the resolutions are to Stop Value Added Services automatic renewal and forceful subscription, and implement a two-step authorisation of opt-in process for VAS subscription. The commission has issued two directions and one of the directions became effective on June 26, 2018.”
“The Independent National Electoral Commission (INEC) said it would by next week commence systematic hardware and software upgrade of all its Smart Card Readers nationwide. The commission disclosed this in a statement issued by its Director, Voter Education and Publicity, Oluwole Osaze-Uzzi on Sunday in Abuja.” According to Daily Trust, “Osaze-Uzzi said this is to continue to protect the tools from unauthorized and malicious access, as the commission had received reports of attempts to clone its Permanent Voter Cards (PVCs) and sell them online. He stressed that the Commission is already working to further secure the PVCs and the Smart Card Readers and will continue to protect them from unauthorized and malicious access.
