Aso Villa Reads for Friday, Feb. 12, 2021
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
President Muhammadu Buhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital of N1 Trillion. It is envisaged that, over time, the entity will grow to N15 Trillion in assets and capital. Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development. [State House]
Vice-President Yemi Osinbajo on Thursday has said Nigeria plans to have 30 per cent of its electricity supply from renewables by 2030. The Vice-President said this in his message delivered virtually at the inauguration of a 1.12 MW Captive Solar Hybrid Power Plant at the Abubakar Tafawa Balewa University, Bauchi. The project was said to have been executed under the Energising Education Programme, an initiative of the Federal Government aimed at providing 37 federal universities and seven teaching hospitals with captive energy solutions that would ensure sustainable and reliable power for students and faculty. [Punch]
The Federal Government on Thursday said it had so far enumerated over 1.4 million establishments as part of the process to rebase Nigeria’s Gross Domestic Product. Statistician-General of the Federation/Chief Executive Officer, National Bureau of Statistics, Yemi Kale, disclosed this at a press briefing on the ongoing National Survey of Establishment. The NSE is conducted by the National Bureau of Statistics with support from the World Bank. [Punch]
The Debt Management Office has said the Federal Government will auction N150bn worth of bonds by subscription on February 17. A circular by the DMO on Thursday showed that a N50bn 10-year reopening bond maturing in March 2027 would be offered at 16.288 per cent; another N50bn 15-year reopening bond maturing in March 2035 would be auctioned at 12.5 per cent. It will also offer the longest of them which is a N50bn 25-year reopening bond maturing in July 2045 to be auctioned at 9.8 per cent. [Punch]
The Federal Government and the United Nations have reiterated their commitment to ensuring substantial and positive changes in Nigeria’s food systems. The Permanent Secretary, Budget and National Planning, Mrs Olusola Idowu, said, to achieve this, National Food summit dialogues would be organized across Nigeria and there would be a harvest of contributions towards shaping the pathways that will lead to collective determination of sustainable food systems and how they will contribute to achieving food security in Nigeria. [Leadership]
The federal government on Wednesday approved a new medium-term debt management strategy for Nigeria for the period of 2020–2023. The Debt Management Office (DMO) confirmed this in a statement yesterday, saying the approval was made at the Federal Executive Council (FEC). It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader macroeconomic and public debt management objectives. [Leadership]
The Minister of State, Works and Housing, Mr Aliyu Abubakar, says the Federal Government will not rest until the ongoing reconstruction of Abuja-Kaduna-Kano road project is completed within the first quarter of 2023. The minister, who expressed the government’s commitment on Thursday while inspecting the Phase III part of the project from Zaria to Kano, said it was one of the priorities of the administration of President Muhammadu Buhari. [Vanguard]
The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL Plc) has facilitated over N148 billion in finance and investments for agriculture and agribusiness. In a chat with the media, in Abuja, the Managing Director (MD), Mr Aliyu Abdulhameed, disclosed that NIRSAL, a wholly-owned corporation of the Central Bank of Nigeria (CBN) facilitated over N30 billion into the sector between January last year to date. The NIRSAL boss added that the organisation had grown its balance sheet to N140billion, equity by 1,415 per cent, and total assets by 87 per cent through prudent management of its resources. [Vanguard]
The Federal Government has thrown weight behind mining companies with mouth-watering incentives in order to diversify the economy, encourage massive investments and create jobs. This was disclosed by the Minister of Mines and Steel Development, Arc Olamilekan Adegbite, on Thursday, while on a tour of the Segilola Gold Project in Iperindo of Osun State in a statement signed by the Special Assistant to the Minister of Mines and Steel Development, Ayodeji Adeyemi. [Vanguard]
The Nigerian Navy Ship, NNS Jubilee, in Ikot Abasi local government area of Akwa Ibom state, said it has destroyed 15 militants camps within its area of jurisdiction in Akwa Ibom and some parts of Rivers state. The Commander, NNS Jubilee, Commodore Abdulmajid Ibrahim, who disclosed this to newsmen on Thursday at the base in Ikot Abasi local government area, Akwa Ibom state said the militant camps were discovered and destroyed during its anti-piracy and anti-sea robbery operations. [Vanguard]
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