Aso Villa Reads for 7/8/17

Every day, we bring you the best stories the media is reporting about the Government of Nigeria.

In Business news, Punch reports that the Muhammadu Buhari administration “announced the lifting of the administrative suspension on processing Pioneer Status Incentives (PSI) applications, following the conclusion of critical reforms to the incentive regime. It also announced the release of new guidelines for PSI applications as well as a revamped list of pioneer industries and products”.

The anti-graft fight celebrated a significant success as all daily newspapers reported that the Federal High Court in Lagos ordered that a $37.5m skyscraper on Banana Island, Lagos, belonging to former Minister of Petroleum Resources, Diezani Alison-Madueke be finally forfeited to the Federal Government. Daily Trust reports that “the trial judge, Justice (Professor) Chuka Obiozor, also ordered that the sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property should equally be forfeited to the Federal Government.”

In keeping the promise to release a yearly sum of $200m for the clean-up and environmental remediation of Ogoniland in line with international best practices, Business Day reports that “Shell Petroleum Development Company (SPDC) has come out to douse tension and doubt over the fund needed to begin actual cleanup of Ogoni areas as recommended by the United Nations (UNEP Report of 2011), saying the first batch of $200 million is ready and intact”. According to the company’s General Manager (External Relations), the funds are found in “the Joint Venture (JV) budget domiciled with the Nigerian National Petroleum Corporation (NNPC) budget, as the JV majority equity holder of 55%.

Pensioners can breathe a sigh of relief as Business Day reports that “the Pension Transitional Arrangement Directorate (PTAD) completed the payment of N7.3 billion July pensions of 237,306 federal pensioners under the Defined Benefit Scheme.” The report said that “another 12,080 pensioners were paid under Customs, Immigration and Prisons Pension Department (CIPPD).”

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