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12 Feb, 8 tweets, 4 min read
President @MBuhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital of N1 Trillion. It is envisaged that, over time, the entity will grow to N15 Trillion in assets and capital.

#Thread
Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development. The entity has been developed with concept designs from the National Economic Council (NEC) and the Central Bank of Nigeria @cenbank
The President had asked Vice President @ProfOsinbajo to chair a Steering Committee tasked with setting up the company.
 
The initial seed capital for the entity will come from @cenbank, @nsia_nigeria and the Africa Finance Corporation.
The board of Infra-Co will be chaired by @cenbank Governor & include the MD of @nsia_nigeria; President, Africa Finance Corporation, as well as representatives of Nigerian Governors Forum, & @FinMinNigeria. The Board will also have 3 independent directors from the private sector.
To address Nigeria's infrastructure deficit, the Buhari Administration continues to explore innovative options, including through financing initiatives such as the Presidential Infrastructure Development Fund (#PIDFund)...
... designed to cater for the 2nd Niger Bridge, Abuja-Kaduna-Zaria-Kano Expressway, and other projects.
There is also the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme which is being used for the funding of the Bodo-Bonny Bridges and Road (with @nigeriaLNG), and the Apapa-Oshodi-Oworonshoki Expressway (with Dangote Group), among others.
Infra-Co will finance public asset development, rehabilitation and reconstruction as well as invest in cutting edge infrastructure projects for Roads, Rail, Power and other key sectors.
 
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More from @NGRPresident

Presidency Nigeria Profile picture
9 Feb
“The cities of Jibiya and Maradi constitute a significant trading core between Nigeria and Niger Republic – a tradition dating back many centuries.” — President @MBuhari #KanoMaradiRail
PMB: “This vital infrastructure line will establish an end-to-end logistic supply chain in railway transport services between Northern and Southern regions of the country, reaching Nigerian southern ports of Lagos and Warri.”
PMB: “The entire route encompasses territory inhabited by close to 80 million people across 10 states of the country. This project has a branch line to Dutse the capital of Jigawa state to open up this corridor which is endowed with vast resources.” #KanoMaradiRail
Read 16 tweets
Presidency Nigeria Profile picture
4 Feb
STATE HOUSE PRESS RELEASE
 
PRESIDENT BUHARI NOMINATES OLONISAKIN, BURATAI, IBAS, ABUBAKAR, USMAN AS NON-CAREER AMBASSADORS
 
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President @MBuhari has forwarded the names of the immediate past Service Chiefs to the Senate as non-career Ambassadors-Designate.
In a letter to Senator Ahmad Ibrahim Lawan, President of the Senate, the President said: “In accordance with section 171 (1), (2) (c) & sub-section (4) of 1999 Constitution of the Federal Republic of Nigeria as amended, I have the honour to forward for confirmation by the Senate,
Read 5 tweets
Presidency Nigeria Profile picture
29 Jan
President @MBuhari has communicated the appointment of the Service Chiefs to the National Assembly and has sought for the confirmation of the said appointment by the Senate through his letter to the Senate President dated 27th January 2021.

#Thread
This was done in furtherance of Section 18 (1) of the Armed Forces Act Cap. A.20 Laws of the Federation of Nigeria.
Contrary to fears expressed in some quarters that President @MBuhari has “bypassed” the National Assembly in the process of appointment of the Service Chiefs and that he has no intention of seeking consideration and confirmation of their appointment, ...
Read 11 tweets
Presidency Nigeria Profile picture
5 Jan
President @MBuhari receives briefing from Vice President @ProfOsinbajo at the State House, on the progress achieved thus far in the implementation of The Economic Sustainability Plan, the administration’s economic stimulus response to the Coronavirus pandemic | January 5, 2021. ImageImageImage
Key components of the ESP that are currently being implemented include:

MSMEs Survival Fund @SurvivalFund_ng

@FHFLNigeria Social Housing Scheme,

@realREANigeria Solar Home System
For the Payroll Support track of the Survival Fund, a total of 277,628 beneficiaries drawn from 56,575 businesses have now been paid. Out of the total number, 3 per cent are beneficiaries with special needs, while 43 per cent are female employees/beneficiaries.
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Presidency Nigeria Profile picture
20 Nov 20
Following approval by the Federal Executive Council, the #FinanceBill2020 that seeks to provide more tax incentives for Nigerian businesses & individuals was yesterday formally presented to State governors at a National Economic Council Meeting presided over by VP @ProfOsinbajo.
Some highlights of the proposed bill which is now headed to the National Assembly include:

1. Reduction in duties on tractors from 35 to 10 per cent

2. Reduction in duties on motor vehicles for the transportation of goods from 35 to 10 per cent.
3. Reduction of levy on motor vehicles for the transportation of persons (cars) from 35 per cent to 5 per cent.

4. Exemption of small companies from payment of education tax under the Tertiary Education Trust fund (TETFUND) - companies with less than N25m turnover are eligible
Read 6 tweets
Presidency Nigeria Profile picture
23 Oct 20
President @MBuhari today held a Virtual Meeting with all living former Heads of State and Presidents: Gen. Yakubu Gowon, former President Olusegun Obasanjo, Gen. Ibrahim Badamasi Babangida, Chief Ernest Shonekan, Gen. Abulsalami Abubakar, and former President Goodluck Jonathan.
The President recounted the initial concessions made by his administration on the demands of youths protesting against excesses of some SARS members: “We accepted all the demands and proceeded immediately to scrap SARS and started the process of addressing the other demands.”
“Unfortunately, the protesters refused to call off the protest and engage the Government to address their grievances. Instead, they became emboldened and gradually turned violent.” — President @MBuhari
Read 5 tweets

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