Aso Villa Reads for Wed. 18/11/2020

Every day, we bring you the best stories that the Media is reporting about the Government of Nigeria

The implementation of trea­sury single account (TSA) in Nigeria has saved the country an average of N45 billion monthly in interest payments, according to Mrs. Zainab Ahmed, Minister of Finance, Budget and Nation­al Planning. On the occasion of the signing of memorandum of understanding (MoU) on TSA with the Republic of The Gambia in Abuja, she said that among other veri­fiable benefits, Nigeria could now easily determine its ag­gregate cash balance which is critical for managing pub­lic finances at a time of acute fiscal constraints. [Independent]

The Ibadan Electricity Distribution Company Plc (IBEDC),says will commence the rollout of free meters to customers under National Mass Metering Program (NMMP) by the third week of November,2020 (This week) Its Chief Operating Officer , Engr. John Ayodele ,explained that in line with the program, the power firm is committed to driving the rollout through a series of metering registration and distribution points across different locations within its franchise. This metering initiative is designed to ensure a seamless metering process that allows customers to register and be metered quickly after following the due process. Engr. Ayodele said for the first phase of the program, which will run till the end of December 2020, IBEDC is rolling out over 100,000 prepaid meters to customers, including those who are duly registered, had passed the technical evaluation and paid under the Meter Asset Provider Scheme. [Independent]

The Central Bank of Nigeria (CBN) has authorised commercial banks to give up to N2 billion maximum loan to youths interested in going into agriculture. The loan, which comes under the Accelerated Agriculture Development Scheme (AADS) at five per cent interest rate per annum was created by the apex bank in collaboration with state governments to engage 370,000 youth in agricultural production. He listed agricultural commodities eligible for consideration under the scheme as rice, maize, cassava, cotton, wheat , tomato, poultry and fish, among others. [The Nation]

The Federal Executive Council (FEC), presided over by President Muhammadu Buhari on Wednesday approved the Finance Bill 2020, to support the 2021 Budget. Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who disclosed this to State House Correspondents after the FEC meeting, explained the bill designed to bring about incremental changes in the nation’s tax laws. The Minister, who briefed correspondents alongside some of her colleagues, however assured that the passage of the bill into law would not lead to increase in taxes in the country. [The Nation]

The Defence Headquarters says the troops of Operation Thunder Strike, on Tuesday, neutralised several bandits in a joint land and air offensive to clear identified bandits’ camps on the Kaduna-Abuja expressway. The Coordinator, Defence Media Operations, Maj.-Gen. John Enenche, in a statement issued on Wednesday, said that the camps were located at Kuku in Kagarko Local Government Area of Kaduna State. Enenche said that the operation was executed based on credible intelligence which indicated that a cluster of huts and other structures at the location served as a hideout for the bandits. [The Nation]