Aso Villa Reads for 21/08/2020

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

The 6,000 barrel per day capacity Edo Refinery and Petrochemicals, a private modular refinery project that enjoyed the support of the Federal and State government, is billed for commissioning next month pending approvals by the regulator. During a tour around the project at Ologbo, Ikpoba Okha, in Edo state by this reporter, the company said the project has reached 95 percent mechanical completion and pre-commissioning activities are expected to commence by the end of August. “This indeed is a remarkable feat for us and Nigeria, it will be the quickest modular refinery delivered In less than one year construction started,” said Michael Osime, chairman of the company in a speech read by a representative. According to Business Day, the Edo Refinery and Petrochemical company is owned by AIPCC Energy Limited, a joint venture between AFCOM and Peiyang Chemical Equipment Company of China (PCC) and was built at the cost of $10.2million. It produces diesel, Naptha and Fuel oil (LPFO). The Federal Government supported the project by granting duty waivers on refinery equipment and components while the state government provided N700m in debt financing repayable when production commences.

The National Institute for Pharmaceutical Research and Development (NIPRD) says it has applied for 5,000 hectares of land to grow medicinal plants, roots and leaves that are local to Kwara environment, News Agency of Nigeria reports.. The Chairman, Senate Committee on Health, Sen. Ibrahim Oloriegbe, (Kwara Central) made the disclosure in Ilorin on Monday during a training conference for phytomedicine practitioners. The conference was tagged “Developing Nigeria’s Phytomedicine for Healthy Population and Assured Economic Prosperity.” He said that the conference was to assist the country in its research and quest to develop phytomedicines and vaccine to fight diseases and COVID-19. He added that the benefit would not only be useful to Kwara, but to other NIPRD state offices in a bid to develop quality and economic phytomedicines in the country to fight various diseases. Oloriegbe said that the objective of the phytomedicine training in Kwara was to ensure the safety and health of Nigerians who patronise locally produced medicines. He said “it is our duty as policy makers to ensure quality medicines; see to how we can empower our local medicine practitioners and ensure they use what are of quality to produce their medicine.” He explained that producing medicine locally would help to save the country’s foreign exchange.

The Nigerian National Petroleum Corporation (NNPC) on Wednesday said it would reduce importation of Liquefied Petroleum Gas (LPG) into the country when the 100 million standard cubic feet of gas capacity facility at Oredo flow station in Benin City, Edo State, is commissioned. The Oredo Integrated Gas Handling Facility (IGHF) project built by the Nigerian Petroleum Development Company (NPDC) will be commissioned on October 31, 2020 by President Muhammadu Buhari, according to Mele Kyari, group managing director of the NNPC. While inspecting the facility, Kyari said the plant has an estimated product streams of 330 tons of liquefied petroleum gas, 345 tons of industrial-grade propane, and 2,600 barrels daily of condensate. When completed, it will deliver 260,000 metric tons of LPG representing 40 percent of domestic requirement significantly cutting the product import. “Completing this project is a monumental feat for this country and we know that there are other efforts that are going on and we are supporting all of them. But ultimately what is important is that this country will be sufficient in LPG within a short period of time. According to Kyari, about 5billion standard cubic feet of gas is being delivered into the domestic market. Business Day reported.

The Federal Government has approved the sum of N13.3bn for the take-off of community policing initiative across the country, Punch reports. The approval is part of the measures aimed at containing the security situation in the country. The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement on Thursday titled, ‘FG approves N13bn for take-off of community policing in Nigeria’. Akande said based on the approval, the National Economic Council at its virtual meeting on Thursday and chaired by Vice President Yemi Osinbajo, resolved that the Chairman of the Nigerian Governors’ Forum, Kayode Fayemi; with two other governors, should meet with the Secretary to the Government of the Federation, Boss Mustapha; Minister of Finance, Budget and National Planning, Zainab Ahmed; and the Inspector General of Police, Mohammed Adamu, to coordinate the proper utilisation of the funding of the initiative. The statement read, “The National Economic Council Ad-hoc Committee on Security and Policing had made a presentation on its assignment to the council, noting that engagement with key stakeholders on the operationalisation of community policing in the country was ongoing. The presentation was made by Governor Kayode Fayemi, who is also the Chairman, Nigeria Governors’ Forum. Other reports received by council at today’s meeting included reports on the COVID-19 pandemic situation in the country, flood disaster risk management in Nigeria for 2020, and the issue of compensation payments regarding federal highway projects across the country.”

Punch reports that the Federation Accounts Allocation Committee has shared a total of N676.41bn for July 2020 Federation Account revenue to the federal, states and local government councils and relevant agencies across the country. This was made known after the monthly FAAC meeting for August 2020 held through virtual conferencing and chaired by the Permanent Secretary, Federal Ministry of Finance, Mahmud Isa-Dutse. The gross statutory revenue of N543.79bn was received for the month of July 2020. This was higher than the N524.53bn received in the previous month by N19.26bn. The gross revenue available from the Value Added Tax was N132.62bn as against N128.83bn available in the preceding month, resulting in an increase of N3.79bn. A communiqué issued by FAAC indicated that from the total distributable revenue of N676.41bn, the Federal Government received N273.19bn, state governments received N190.85bn and Local Government councils received N142.76bn. The oil producing states received N42.85bn as 13 per cent derivation revenue, while two sub-heads namely, cost of collection and transfers to relevant agencies collectively had allocation of N26.76bn. The Federal Government received N254.69bn from the gross statutory revenue of N543.79bn, the states received N129.18bn and the Local Government Councils received N99.59bn. A total of N42.85bn was given to the relevant states as 13 per cent derivation revenue and N17.47bn was the collective total for cost of revenue collection by revenue agencies. The Federal Government received N18.5bn from VAT revenue of N132.62bn.

The Federal Government has given approval for investment by manufacturers in the local production of bitumen and other construction materials that are being imported for the construction of roads, Punch reports. It was gathered on Thursday that the Federal Executive Council gave the approval sequel to a memorandum presented to it by the Minister of Works and Housing, Babatunde Fashola. The government also directed the Ministries of Petroleum Resources and Mines and Steel Development to develop strategies to enhance, stimulate and encourage local production. The Federal Ministry of Works and Housing stated this in a statement issued in Abuja by the Communications Assistant to the works minister, Hakeem Bello. It said the memo, which originated from an initiative of the President, Major General Muhammadu Buhari (retd.), would boost job creation and preserve foreign exchange. The ministry said the President had made inquiry about the sources of the major components in road construction and the possibility of producing them locally.