The Presidency has announced state governments will start benefiting from the special intervention fund of between N250B to N300B in a matter of weeks.
This is part of a three-pronged financial intervention of President Muhammadu Buhari to assuage workers plight and support the states is now in progress.
According a statement by the Senior Special Assistant to the Vice President on media and Publicity, Laolu Akande planning meetings are being currently held between members of the Federation Account Allocation Committee (FAAC) and the Central Bank of Nigeria (CBN), on the one hand, and also between CBN and commercial banks on the other hand, regarding details of the special intervention fund and the debt relief program of the President for the states.
Such meetings, the statement added, are reviewing loan profiles of the states, issues around restructuring of existing loans including time span, and reconciling the figures.
“Already, it has been agreed that existing state loans be restructured for 20 years, and regarding the bond option, the rates to be applied would be market-based but with a cap to make it affordable. Within weeks from now, the states are expected to start benefiting from this two other parts of the presidential intervention.”
The statement recalled that the details of the presidential intervention are in three parts as follows:
“The sharing of about $2.1B in fresh allocation between the states and the federal government. The money was sourced from recent LNG proceeds to the federation account, and its release okayed by the president.
“A Central Bank-packaged special intervention fund to the tune of about N250B to N300B that will offer financing to the states. This would be a soft loan available to states.
“A debt relief program by the Central Bank of Nigeria and Debt Management Office, DMO, which will help states convert their commercial bank loans into bonds, and restructuring such loans by extending their life span thereby reducing the debt-servicing expenditures of the states.”
It said that by extending the commercial loans of the states, the third part of the presidential intervention would therefore make available more funds to the state governments which otherwise would have been removed at source by the banks.
It said that to offer this option to the states, President Muhammadu Buhari has brought the financial muscle of the federal government to bear on behalf of the states guaranteeing the elongation of the loans.
“Besides, the availability of the $2.1B from LNG which has now been shared to the states was made possible because President Buhari set a new fiscal standard and tone that all monies generated should go to the federation accounts. Before that constitutional standard was upheld by the president, LNG dividends were going to other NNPC designated accounts.
“None of the three parts of this intervention would have been possible without the creativity and approval of President Buhari. It should be noted that the backlog of the salaries in some of the states went back several months before the president took office.
“To date, the states have now drawn from the LNG taxes and dividends totaling $2.1B, besides a second sharing from the federation account-ie the regular monthly allocations-a sum of over N518 Billion last week.
“Finally states have been advised during NEC meetings to take certain steps to avoid a similar financial crisis in the future. These include:
“Making the payment of salaries, a first-line charge.
Do more to increase their internally generated revenue.
Clean-up their payroll to eliminate ghost workers. Have a fully-functional Debt Management Offices.”  [myad]

President Muhammadu Buhari has promised to correct the neglect of research, science and technology by past governments, insisting that no country can make progress without serious commitment to the development of science and  technology.
Speaking today after receiving a briefing on the activities of the Ministry of Science and Technology, President Buhari made it clear that his administration will dedicate more resources and energy to the sector.
The President said that he will fully encourage the work of the Ministry of Science and Technology because innovations from the various research institutes under its supervision could also impact positively on industrial development and manufacturing in Nigeria.
The Permanent Secretary of the Ministry, Mrs. Winifred Oyo-Ita had enumerated several challenges hindering its effectiveness, including perennial poor funding and the lack of recognition on the part of successive governments of science and technological innovation as a major driver of economic development.
Mrs. Oyo-Ita told the President that the focus of the Ministry had moved from academic research to market-based innovative research aimed at  boosting industrialization.
She asked for more support and political will from the Federal Government to encourage scientific research, innovation and local manufacturing.
Also today, President Buhari received the outgoing British High Commissioner to Nigeria, Mr. Andrew Pocock and the outgoing Swiss Ambassador, Mr. Hans-Rudolf Hodel.
The President thanked both envoys for their efforts to strengthen relations between Nigeria and their respective countries and wished them success in their future assignments.
The former Secretary-General of the Commonwealth, Sir Shridath Ramphal, who is in Nigeria on a visit, also paid a courtesy call on President Buhari. [myad]

Mr. Haruna Baba Jauro has formally taken over from Barrister Calistus Nwabueze Obi as the Acting Director General/Chief Executive Officer of the Nigerian Maritime Administration and Safety Agency (NIMASA). The handover ceremony took place in the Agency today.
Obi asked staff of the Agency to support Mr. Haruna Baba Jauro even as he assured that the excellent working relationship between him and the new Acting DG would continue in order to lift the Agency to greater heights.
Responding, Mr. Haruna Jauro expressed gratitude to President Muhammadu Buhari for the opportunity to serve the nation in his new capacity.
He thanked staff of NIMASA for their commitment to duty and craved the cooperation of all for the realization of the mandate of the Agency.
“I want to thank all staff of NIMASA for the commitment to the objectives of this Agency and crave your cooperation so that together we can actualize the objectives for which the Agency was set up.”
The Acting DG who until his appointment was the Executive Director Finance and Administration in the Agency, is expected to be in charge until a substantive Director General is appointed. [myad]

Nigeria Army has described as a lie, comments credited to Borno State Deputy Governor, Zannah Mustapha, in the media that five Local Government Areas in Borno and Yobe states were still under the control of Boko Haram.
The Acting Director, Army Public Relations, Colonel Sani Usman, who spoke to journalists in Abuja at the weekend said that troops of the Nigerian Army have liberated Dikwa Local Government area of Borno state and its neighbouring villages, which he said was one of the strongholds of Boko Haram terrorists.
During the encounter, he said, 20 terrorists were killed while several others were injured.
The Army Spokesman, who gave further details on the operation, said: “The troops recovered five vehicles heavily laden with Improvised Explosives Devices (IEDs) about to be unleashed, four motorcycles, one Toyota Hilux mounted with Anti-Aircraft Guns, one Anti-Aircraft Gun and one General Purpose Machine Gun.”
The Army Spokesman said: “The attention of Nigerian Army has been drawn to a publication in ThisDay Newspaper of Saturday 25th July 2015 quoting Borno State Deputy Governor saying that some LGAs in Borno and Yobe  states were still under Boko Haram terrorists.
“The Army wishes to acknowledge that Boko Haram terrorists have been  occupying some portions of  Gamboru Ngala, Kala Balge, Guzamala and Dikwa LGAs of  Borno State. In Yobe State Gujba LGA HQ had long been deserted.
“However, due to recent concerted efforts, roads and towns hitherto being held by Boko Haram terrorists and laced with mines such as Biu-Buni Yadi-Damaturu and Biu-Sabon Gari-Damboa roads were liberated and cleared of mines and made safe for public usage.
“Additionally, with the support of Nigerian Air Force,  I am glad to inform you that our gallants troops yesterday liberated Dikwa LGA.  During the battle, troops of 7 Division Nigerian Army destroyed one of the terrorists’ camp at Faljari village along Dikwa-Maiduguri road, Borno State.
“There is no doubt that the village has been the terrorists logistics base. The Nigerian Army wishes to state further  that  it would not rest on its oars until all portions of Nigerian  soil is reclaimed and made safe from the terrorists.” [myad]

Governor Adams Oshiomhole of Edo State has said that contrary to insinuations in many quarters, no state has received any amount from the Federal Government as bailout fund.
He spoke yesterday at a reception for the Inspector-General of Police, Mr. Solomon Arase in Sabongida Ora, Owan West Local Government Area of Edo state.
According to the Governor, the cheering news, however, is that President Muhammadu Buhari is committed to seeing an end to the situation where up to fifteen states owe workers’ salaries.
“There is some conversation going on between the Federal Government and the Governors and the president has been extremely positive in recognizing that he does not want to preside over a country whose workers are not paid.
“At the end of the day, it is not acceptable where fourteen to fifteen states cannot pay salaries. The good news is that the president is standing by us and there is always a time lag between when you conceptualize and when you implement.
“For now, no government has got one naira under the bailout arrangement.”
On the Inspector-General of Police who was holding a thanksgiving on his elevation, the Governor said: “the celebrant is not just a man of history, there are many people who could become the I-G, by political connection, but I think he has a very unique ability.
“I also believe that your present elevation is a demonstration of the way you have sought to manage your office , deal with the challenges of the police force without being partisan, This is a difficult position to maintain. As an Edo man, you represent the finest tradition with courage, determination and intellect to your job no matter whose ox is gored,” he said.
Oshiomhole continued “I think at this time, the I-G would need all the prayers, support and encouragement particularly of Edo people. Let it not be said that the task of policing was made more difficult by the people of the state. And he is serving under a president who will not tolerate indiscipline. He is an I-G to drive changes in the psyche and governance of our great nation,
“It is a thing of pride to our people that coming from a minority, he has risen to become the I-G of the police. But we also recognize that he is coming to office at a very challenging time. This is the time we need such people with security of mind and competence to drive the changes which president Buhari has promised the people by ensuring that the police play their part of providing security to the people.
In an address of welcome, Chairman of the occasion, Prof. Ehimika Ifidon said in celebrating the I-G, the Ora people of Edo State are also celebrating other sons and daughters who have made tremendous achievements in various areas.
Responding, the Inspector General of Police, Mr Solomon Arase said he felt elated to receive the honour being bestowed on him with joy. [myad]

President Muhammadu Buhari has sought the cooperation of and partnership with journalists for the purpose of ending the scourge of Boko Haram, improving national security, rebuilding and expanding national infrastructure as well as accelerating the pace of economic development across the country and creating more employment opportunities for Nigerian youth.
In a congratulatory message today, to the newly elected Present of the Nigeria Union of Journalists (NUJ), Mr. Abdulwaheed  Odusile of the Nation Newspapers, President Buhari assured the new NUJ President and his executive officers of the fullest support and cooperation of the Federal Government as they move to reposition and revitalize the journalism profession in Nigeria for present and future challenges, including the revolutionary impact of new technologies on communications and  information dissemination.
The President further assured the new NUJ President and all journalists in Nigeria that his administration will consistently uphold their right to perform their constitutionally assigned role in society without hindrance.
He looks forward to working in a harmonious partnership with Odusile, the new NUJ executive and media practitioners in Nigeria even as he expressed confidence that with his worthy credentials, long experience and antecedents as a highly respected and reputable professional, Odusile can be expected to discharge his new responsibility of leading the NUJ to greater heights of accomplishment with distinction.
President Buhari wished Odusile and other newly-elected executive officers a very successful tenure in the service of their profession and country. [myad]