Aso Villa Reads for Monday, June 21st, 2021
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, has said the Federal Government expended over $5bn since 2016 to fight poverty in the country. The minister said the President, since 2016 has backed his pledge to pull out 100 million Nigerians out of poverty by committing $1bn through the National Social Investment Programme to reduce poverty and inequality. She also described as factual the data referenced in the President’s Democracy Day address, which said 7.5million people had been pulled out of poverty. [Punch]
The Debt Management Office has disclosed that the Federal Government will offer N150bn bonds for subscription in June. A circular by the DMO obtained from its website on Friday showed that the breakdown of the bonds comprised of three bonds worth N50bn each. They are 10-year reopening bond to be offered at the rate of 16.2884 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent with maturity date of March 2035; and a 30-year reopening bond to be offered at 12.98 per cent and mature in March 2050. The bonds will be auctioned on June 23. They also have the same date for settlement. [Punch]
The 2nd Niger Bridge, Lagos-Ibadan Expressway and other key road projects will be delivered before the end of President Muhammadu Buhari’s administration in 2023. Mr Babatunde Fashola, Minister of Works and Housing, disclosed. “We have about 44 roads under Sukuk. There are many of them across the A1-A9 so we talk about the second Niger bridge, the Lagos-Ibadan expressway, the Abuja-Kano road, those are some of the roads we intend to finish” [Sun News]
The Nigeria Youth Investment Fund (NYIF) of the Federal Government being operated by the Ministry of Youth and Sports Development has disbursed loans of N1.629bn to 5,200 youths while another set of 25,000 youths are on the waiting list for approval and disbursements of their loans. This was contained in a statement made by the Director, Press and Public Relations of the ministry, Mallam Mohammed Manga. He explained that the information was contained in the latest update provided to the ministry by the NIRSAL Micro Finance Bank (NMFB) which disbursed the loans. [Tribune]
Minister of Information and Culture, Alhaji Lai Mohammed, says the President Muhammadu Buhari’s government is committed to diversifying the economy and boosting of the Micro, Small and Medium Enterprises (MSME) activities. The minister stated this at the closing ceremony of a five-day exhibition on Made-in-Nigeria products. The minister said “The products exhibited here in the past five days are 100 per cent Made-in-Nigeria and by our Micro, Small and Medium Enterprises. [Daily Times]
Nigeria’s central bank plans to issue a total of N722.17 billion treasury bills in the third quarter of 2021, as the same amount will be maturing between June 2021 and August this year. The Central Bank of Nigeria (CBN) stated this in the Nigerian Treasury Bills issuance programme calendar released on its website on Friday. On a quarter-on-quarter basis, the amount is 26.61 percent higher than N570.39 billion offered in the second quarter (Q2) 2021, and 12.12 percent below the N821.8 billion issued in the corresponding quarter of 2020. [Business Day]
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