Aso Villa Reads for Tuesday, Feb. 23, 2021
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
The Minister of State for Petroleum Resources, Chief Timipre Sylva, said on Monday that the Federal Government’s National Gas Expansion Programme was expected to lift over 100 million Nigerians out of poverty. Sylva said the programme was “a practical demonstration of President Muhammadu Buhari’s commitment to lift 100 million Nigerians out of poverty by using gas value chain as catalyst for social and economic development in Nigeria”. [Punch]
The federal government has inaugurated a 30-KWP solar power facility in Mbela Lagaje area, Mayo Belwa local government area, Adamawa State. Speaking during the event, Managing Director of the Rural Electrification Agency (REA), the implementing agency, Mr. Salihijo Ahmad, pledged that the government would continue to provide access to reliable electric power supply for rural dwellers irrespective of where they live. [This Day]
The Managing Director of the Nigeria Export Processing Zones (NEPZA), Prof Adesoji Adesugba, has said both the Federal Government and the Authority were leaving no stone unturned at leveraging on the African Continental Free Trade Zone Agreement (AFCTA) to boost the country’s trade zones’ competitiveness. The MD reiterated that the AFCTA presented the country with an exceptional lifeline to reboot its economy, adding that there was no better time to take advantage of the lofty opportunities provided by the agreement for countries in Africa to seamlessly trade among themselves.[Tribune]
Nigeria’s revenue is set to get a boost as crude oil prices rallied on Monday, with Goldman Sachs Group Inc. predicting prices will advance as high as $75 in the coming months. Based on the prediction of a fall in supply and rising costs, Goldman Sach is predicting Brent will reach $70 a barrel in the second quarter and $75 in the following three months, $10 above its previous forecast. [Business Day Page 2]
The Central Bank of Nigeria (CBN) will be disbursing N118 billion for power distribution projects across the six geopolitical zones. Senior Special Assistant to President Mohammadu Buhari on Public Affairs, Ajuri Ngelale, disclosed this on Sunday.This, he said, would enable the operators to add 2,000 megawatts to the power supply. He said the President asked the CBN to procure six million meters in support of the distribution companies operations. [NIPC]
President Muhammadu Buhari has assented to the reduction of import duty on passenger transport vehicles by 30 per cent. The reprieve also includes zero or free import duty on aviation engines and spare parts. The directive, according to a circular from the Nigeria Customs Service (NCS), which The Nation obtained, seeks immediate compliance. The essence of the assent, according is to support implementation of the 2021 budget of economic recovery which culminated in the changes of the fiscal framework in terms of importation of automotive vehicles into the country. [NIPC]
The National Agricultural Land Development Authority (NALDA) has said it is working on an initiative to encourage more Nigerians into farming and to,“grow what they eat”. The Executive Secretary, NALDA, Mr. Paul Ikonne, said the proposed “Grow Your Food,” scheme was in line with President Muhammadu Buhari’s food security agenda for Nigerians to, “eat what they grow and grow what they eat”. [This Day]
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