Aso Villa Reads for 9/8/17

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

The Nigerian Investment Promotion Commission (NIPC) daily newsletter reveals that commercial activities will begin on the Itakpe-Ajaokuta-Warri rail line in June 2018. The rail line connecting about five states, which has reportedly been abandoned for over 30 years will be connected to the recently inaugurated Abuja-Kaduna rail and take the double line to Kano, according to Transportation Minister Rotimi Amaechi.

By 2019, Nigeria could become Africa’s 3rd largest refiner of petroleum products and a net exporter of refined petroleum products. In this Business Day article, it is revealed that Nigeria’s exports are estimated to exceed 37,000 bpd (approximately 6 million litres daily).

In an analysis by Business Day, growth in agriculture, increased oil output and government spending will continue to drive Nigeria’s growth, and strengthen the Naira. As the financial markets in Nigeria continue to evolve and the Naira gets closer to becoming a stable and respected currency, so will the interest in Forex trading grow.

In order to reshape the way public service is provided and managed, the Federal Government has said that it will partner with Huawei to create smart cities in Nigeria. This Vanguard newspaper piece explains that technology now shapes government policies and a critical look at the preparedness, unique challenges and emerging solutions will be necessary for a sustainable smart city initiative in Nigeria.

According to Leadership Newspaper, the Central Bank of Nigeria (CBN) has disclosed that foreign reserves appreciated by $554.7 million or 1.8 per cent in July, to bring the year till date growth to 19.3 per cent. The foreign reserves closed July at $30.8 billion from $30.29 billion it opened the month under review.

Nigeria’s hope of increasing oil production will soon be realized as Egina oil field, the flagship of Total Exploration and Production will be ready in 2018. The Nigerian Investment Promotion Commission (NIPC) daily newsletter reports that the floating production is expected to add 200,000 barrels per day to Nigeria’s output.

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