Aso Villa Reads for Tuesday, May 11th, 2021
Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria
The Nigeria Sovereign Investment Authority (NSIA) grew its net assets by N193.21billion in 2020 representing a 33% increase over the N579.54 billion recorded in 2019. This impressive result was achieved despite the negative impact of the Coronavirus pandemic on global economies last year. The NSIA announced this on Tuesday when it released its Audited Financial Results for the 2020 Financial Year in Abuja. The Authority, which manages the Nigeria’s sovereign wealth fund, said the growth in assets reflects a strong financial performance and consistent implementation of strategic infrastructure investment programmes for the year. Despite the challenges of COVID-19, the NSIA said it had a strong year owing to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange gain from foreign currency positions. [Vanguard]
As part of measures to grow revenue and attract investors to the mining industry, the Federal Government in collaboration with the United Nations Industrial Development Organisation on Monday unveiled a policy document on gold mining in Nigeria. UNIDO alongside Nigeria’s ministries of environment, mines and steel development, as well as health jointly unveiled the National Action Plan for the Reduction and Eventual Elimination of Mercury Use in the Artisanal and Small-Scale Gold Mining sector in Nigeria.[Punch]
The federal government has reiterated that the current moves to revamp the power sector using the Presidential Power Initiative (PPI), Nigerians will have access to about 25GW of electricity in the next five years. Speaking during a webinar with the Energy Transition Council, a body under the United Nations, Minister of State, Power, Goddy Jedy-Agba, who presented the keynote address at the council’s country dialogue conference, reassured that the government has the political will to make sure the goal is achieved. Jedy-Agba explained that the country was experiencing a turning point in the power sector, noting that the ministry was exploring ways of localising the energy value chain in Nigeria and giving priority to technology transfer and capacity building.[This Day]
Disturbed by the resurgence of COVID-19 pandemic, the Federal Government yesterday announced reintroduction of all extant control measures aimed at mitigating the impact of the deadly scourge. Accordingly, the Presidential Steering Committee, PSC, on COVID-19 reimposed nationwide curfew earlier put in place to control the spread of the virus. It also limited gatherings, especially in enclosed spaces, to a maximum of 50 persons, urging state governments to inaugurate mobile courts to try offenders. Speaking at a media briefing in Abuja, Secretary to the Government of the Federation, SGF, and chairman of the PSC, Mr Boss Mustapha, said the committee also considered several pre-emptive measures to be taken to mitigate the likely impact of the variants of concern, should they get imported into Nigeria. [Vanguard]
The Federal Government has declared Wednesday and Thursday as Public Holidays to mark 2021 Eid-eI-Fitr celebration. A statement by the Permanent Secretary in the ministry, Dr Shuaib Belgore, stated that the Minister of Interior, Rauf Aregbesola, while making the declaration on behalf of the federal government, congratulated the Muslim faithful on the occasion and called on all Nigerians, at home and abroad to use the period to pray for peace, stability and economic transformation of Nigeria.[Vanguard]
President Muhammadu Buhari has directed that a ministerial delegation be sent to Ghana to resolve the lingering conflict between Nigerian traders and Ghanaian authorities. The delegation will be led by Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, according to a statement issued on Monday by the Special Assistant to the Minister on Media, Mr Ifedayo Sayo. Sayo noted that the delegation, which would be made up of relevant stakeholders, would also engage in further dialogue with Ghanaian authorities with a view to finding a lasting solution to the problem. He stated that the delegation would undertake the visit between May 31 and June 1, 2021. [Vanguard]
The National Agency for Food and Drug Administration and Control (NAFDAC) has commenced a nationwide sensitisation campaign on product registration and value addition for Micro, Small and Medium Enterprise operators. Speaking at a one-day sensitisation organised by the agency in collaboration with Yobe State Government in Damaturu, the Director-General of NAFDAC, Prof. Mojisola Adeyeye reiterated the critical role of MSMEs in economy. She added that at the end of the sensitisation, NAFDAC hoped to increase the number of people engaged in adding value to their products by registering them with NAFDAC to safeguard the health of the public. [Vanguard]
While gas flaring in Nigeria has fallen the most in eight years, it is far away from global climate change targets. In Nigeria oil-rich delta, people live within 4 Kilometres (2.5 miles) of gas flare site, where associated gas burnt during oil recovery. Data from the Nigeria Gas Flare Tracker (GFT), a satellite-based technology, created by the National Oil spill Detection and Response Agency (NOSDRA), indicate that Gas flaring reduced from 423 billion cubic feet in 2013 to 354 billion in 2020, and the Nigerian National Petroleum Cooperation (NNPC) showing flared gas dropped from 271.38 billion cubic feet in 2015 to 222.61 billion cubic feet in 2020 suggests progress. [Busines Day pg30]
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