Aso Villa Reads for 8/2/18
Every day, we bring you the best stories the media is reporting about the Government of Nigeria.
PUNCH reports that “The Federal Executive Council on Wednesday reappointed a consortium of banks to handle the nation’s $2.5bn Eurobond issuance. Minister of Finance, Mrs. Kemi Adeosun, disclosed this to State House correspondents at the end of the weekly FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja. Adeosun listed the banks as Citi Group, Standard Chartered, Stanbic IBTC, Whitten-Case and African Practice.”
According to Business Day (Thursday 8th February, page 13), “Cuban Ambassador to Nigeria, Carlos Saso, said his country would strengthen economic relations with Nigeria to boost trade between both countries. Saso said this when he visited Mr Adetokunbo Kayode, the President of Abuja Chamber of Commerce and Industry, on Monday in Abuja. Media and Protocol Officer of the chamber, Mr Gena Lubem, said in a statement that the ambassador stressed the need to galvanize resources of more joint economic activities between the country.”
The Federal Government has disclosed its plan of constructing 300 kilometers of rural roads in Osun State. Vanguard reports that “Adelere Oriolowo, the Project Coordinator for RAMP-2 in Osun, disclosed this to newsmen shortly after a pre-bidding meeting held in Osogbo with interested contractors for the RAMP project. Oriolowo explained that, the State Project Implementation Unit (SPIU), had already invited bids from eligible and reputable contractors for the expression of interest on the project. He said the project would be jointly financed by the World Bank and French Development Agency (AFD) in line with World Bank Procurement Regulations. Oriolowo pointed out that the past RAMP projects had impacted positively on the lives of rural dwellers in the state.”
Business Day Newspaper, (Thursday 8th February, page 18) “the Federal Government of Nigeria (FGN) Savings Bond offer for this month of February opened since Monday February 5, 2018. The Savings Bond offer which opens for a period of just five days closes tomorrow Friday, 9th February 2018. FGN Savings Bond is an investment vehicle offered by the Sovereign that serves to meet the investment needs of low high income citizens in the economy enhancing their savings culture while also acting as an efficient debt management tool for the Nigerian Treasury.”
“United Kingdom Foreign Secretary Mr Boris Johnson has called for an intensification of trade between Britain and Nigeria on the second of a two day visit to the country, underlining the close friendship between both countries. A statement issued by Joe Abuku, Press and Public Affairs Officer, British High Commission in Abuja, said Johnson also held high level talks with Vice President Yemi Osinbajo and urged the Federal Government to fulfill its responsibilities in the fight against Boko Haram. The Sun reported this.
According to Daily Times “the Nigeria National Petroleum Coroporation, NNPC, has claimed that in order forestall fuel scarcity as well as sanitize the fuel supply and distribution system to eliminate the queues, it has stepped up the arrest and prosecution of erring marketers and fuel hawkers across the country. The corporation, in a statement on Wednesday, said that its special Task Force on Filling Stations Monitoring has made a series of arrests, including two filling station managers who diverted 66,000 litres of petrol and six illegal hawkers of petrol in Abuja.”
Good news for Nigeria as our foreign reserves has increased to $42 billion. Ahmed Abdullahi, Director, Banking Supervision (CBN) revealed this and maintained that “the country had low risk premium and that there was high confidence in the economy occasioned by accretion in foreign reserves, gains in the capital market, which he said is the best globally, inflation trending down and improvement in the growth rate. “There is high performance in the economy,”Abdulahi said”. This is according to Business Day (Thursday 8th February, page 8).
The Nation reported that “the Nigerian National Petroleum Corporation ( NNPC ) has said it will take delivery of two cargoes of petrol per day for the rest of February to boost supply and eradicate queues. A statement by the NNPC Spokesman, Ndu Ughamadu in Abuja on Thursday stated that two cargoes of 50 million litres each, making a total of 100 million litres, would be brought-in per day in February to replenish strategic reserves”. According to him, “to enhance supply, 45 million litres of petrol was discharged from ships into jetties across the country yesterday. Prior to the fresh 45 million litres discharged, we have 324 million litres of petrol on land and 432 million litres in marine storage making a total of 756 million litres”.