Federal Government Executive Council Accepts €500m Loan For Bank Of Industry

 

  The Federal Government Executive Council presided over by President Muhammadu Buhari has approved that 500 million Euro loan be sourced for the Bank of Industry from external creditors. According to the  Minister of State Finance, Clement Agba, the loan is to support industrialisation and agriculture in addition to creating up to 1.2 million new jobs.

“The credit guarantee is for up to five years and the Federal Government is the guarantor of the loan,” he stated. Agba said: “Council today approved the issuance of a Sovereign Guarantee of 500 million Euros from the Credit Suisse AG London Branch and a syndicate of international lenders as collateral for 500m Euro facility to the Bank of Industry.

“The loan is basically to finance major industrialisation projects and micro-small and medium enterprises values chains in Nigeria for up to five years tenure at affordable rates; These rates are single digit rates. The guarantor of the loan shall be the Federal Republic of Nigeria and this is going to be executed through the Ministry of Finance Budget and National Planning. “The main objective of the loan is to support industry; revitalise agro-industrial processing zones, and to facilitate the creation of new jobs.

Federal Government releases minimum wage payment template to labour

     The least paid federal worker on Level 1 Step 1 will earn N360,000 per annum while the highest-paid at Level 17 Step 9 will take home N6,215,435 per annum. These are the highlights of  the minimum wage payment template released by the Federal Government.

   The circular on the new wage, dated November 14 and signed by the Acting Chairman of the National Income, Salaries and Wages Commission, Ekpo Nta, is copied to top government officials, including the Chief of Staff to the President, Secretary to the Government of the Federation, ministers, among others.

President Buhari signs ‘The Open Defecation-Free Nigeria by 2025 into law

   President Muhammadu Buhari Wednesday signed Executive Order 009 entitled, ‘The Open Defecation-Free Nigeria by 2025 and Other Related Matters Order’ into law.

The Order declares as follows:

That by this Order, Nigeria is committed to being open defecation free by 2025.

That the National Open Defecation Free (ODF) Roadmap developed by the Federal Ministry of Water Resources with support from other key sector players across Nigeria be put into effect.

a. There is established in the Federal Ministry of Water Resources a National Secretariat called “Clean Nigeria Campaign Secretariat.”

b. The Secretariat is authorized on behalf of the President to implement this Order by ensuring that all public places including schools, hotels, fuel stations, places of worship, market places, hospitals and offices have accessible toilets and latrines within their premises.

Reality Star Mercy Eke Announce New Ambassadorial Deal For Electronic Brand

 

   Mercy Eke winner of BBNaija season 4 signed an Ambassadorial deal with an electronic company. She posted the news on her Instagram page.

Woman arrested for throwing one-day-old baby into soak-away pit

 

   A 30-year-old mother of five, Mrs Risikat Olabintan has been arrested by the police for throwing her one- day -old baby into a soak-away pit.

   Her arrest followed a distress call received by members of Ibukun Oluwapo Community, Ishaga Surulere area in Owode-Yewa, that some children while playing at the backyard of their compound heard the cry of a baby in the soak-away and raised alarm.