Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,321 members, 7,954,294 topics. Date: Friday, 20 September 2024 at 04:10 PM |
Nairaland Forum / Nairaland / General / Politics / NEC Approves $250 Million investment For Nigeria Soverign Investment Authority (4460 Views)
APC NEC Approves 50% Discount On Nomination Forms For Everyone Under 40 / Buhari Makes New Appointments into Nigerian Sovereign Investment Authority / APC NEC Approves Direct Primaries At National & Indirect Primary At State Level (2) (3) (4)
NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by presidency: 9:02pm On Nov 21, 2019 |
OFFICE OF THE VICE PRESIDENT PRESS RELEASE NATIONAL ECONOMIC COUNCIL APPROVES ADDITIONAL $250M INVESTMENT FOR NIGERIA SOVEREIGN INVESTMENT AUTHORITY Having received a presentation of the Nigeria Sovereign Investment Authority (NSIA) business update, and outlook, the National Economic Council on Thursday resolved to invest an additional $250 million into the NSIA, the country's sovereign wealth fund. The resolution was among other decisions taken at the 99th meeting of the council chaired by Vice President Yemi Osinbajo, SAN, in Abuja. NEC is composed of the 36 State Governors, CBN Governor, the FCT Minister and other Federal Government representatives. In his presentation to NEC, the NSIA Managing Director, Mr Uche Orji said the agency made a profit before tax of N42,036,469 while NSIA and its subsidiaries made a profit before tax of N46,185,074. According to him, “the total comprehensive income by the year ending 31st December, 2018 made by the NSIA Group amount to N44,337,108, while the amount made by the NSIA stood at N41,827,853. “…irrespective of volatility in the market due to the US/China trade disputes and Brexit, the Group made a total of N24 billion in total comprehensive income in the first 6 months of the year.” The NSIA had earlier told council that it intends to “deploy Capital into the three road projects under the Presidential Infrastructure Development Fund – to complete the Second Niger Bridge, Abuja – Kano highway and Lagos – Ibadan Express way as well as the Mambilla Power Project. “That the NSIA intends to create a number of co-investment funds, in the area of Healthcare, Agriculture and Gas Projects. “These projects worth N2.5 trillion, will be implemented under a business model, that includes the payment of reasonable service charges (e.g. tolling of roads, electricity tariffs etc) after the projects have been fully developed.” Besides the additional $250 million, NEC also resolved that the "Governor of Kaduna State should chair a NEC Committee to consider how a portion of Pension Funds can also be leveraged into investment for the NSIA with possible involvement of PENCOM. “The Committee will include the Finance Minister, CBN Governor and the NSIA MD.” On the presentation by the Minister of Mines and Steel Development, Mr Olamilekan Adegbite on the development of the solid minerals sector, the Council resolved that “there should be collaboration between the Federal Ministry of Mines and Steel Development and the State Governments on environmental issues and concerns in the States.” Regarding community relationship with the miners, it was agreed that there should be a full time engagement of the communities to avoid the mistakes made in the oil and gas sector. Council also resolved that the Governor of Ekiti State and Chairman, Nigeria Governor’s Forum (NGF) should constitute an Ad-hoc Committee involving Governors to engage with the Federal Ministry of Mines and Steel Development to find ways of addressing all the issues involved towards a beneficial development of the solid mineral sector. On updates involving the Excess Crude Account (ECA), Stabilization Account and the Natural Resources Development Fund Account, the Accountant General of the Federation told Council that “the Excess Crude Account (ECA) balance as at 20th November, 2019 stood at 324,539,031.51, while the Stabilization Account balance as at 20th November, 2019 was N29, 480, 483, 393.33, and Natural Resources Development Fund Account balance as at 20th November, 2019 stood at N 79, 751, 649,521.54. Laolu Akande Senior Special Assistant to the President on Media & Publicity Office of the Vice President 21st November, 2019 4 Likes 1 Share
|
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by VirginSearcher(m): 4:54am On Nov 22, 2019 |
Nigerian economy is sinking day by day.. and the selfish border closure has worsened the situation.. the only country in the world the president rules from another country, watch Trump impeachment coverage, u will be marveled and realize how deep we've fallen.. in a saner clime the clueless president ought to have been impeached long time ago but hell no with a rubber stamp lawmakers 2 Likes 1 Share |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by ourkobo: 4:55am On Nov 22, 2019 |
Yet the common man won't see the impact. 1 Like |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Mykelhendriz: 4:55am On Nov 22, 2019 |
After the money has been disburse, I bet... you will never hear about it again.. The worst is that, the reason for disbursement will not be achieved... as it will be shared among the cabals of each state.. While the masses suffer.. People dying out of starvation.. My country has become a dumping site for dead bodies... I still believe a time will come when the burdens shall be taken away from the shoulders.. Nigeria will be great again 1 Like |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by olassybaba: 4:59am On Nov 22, 2019 |
Please I need a US number to verify my account |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Mykelhendriz: 5:06am On Nov 22, 2019 |
olassybaba: Tell your client bro.. She'll send you the code 1 Like |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Nobody: 5:20am On Nov 22, 2019 |
Good initiative from this government. |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Nobody: 5:21am On Nov 22, 2019 |
Mykelhendriz:You wake up early this morning with all these bitterness. Make God help your life. Your misery and negativity is top notch! No good news make you frustrated souls happy. 1 Like 1 Share |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by olassybaba: 5:32am On Nov 22, 2019 |
Mykelhendriz:Bro no be g stuff be dis and I no get client 1 Like |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by ebuzchief(m): 5:33am On Nov 22, 2019 |
The buhari government is releasing money this time and the masses has not see the impact. Abi all this money naa for media? |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by tstx(m): 6:02am On Nov 22, 2019 |
Shadow money... If you know you know |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by J4JUVENTUS(m): 6:15am On Nov 22, 2019 |
They approved it for their pockets.. Op modify the heading to "Nec Approved $250million for their Pockets" Them go kill people tire for what APC call hate speech o When you correct or criticise their bad government,it becomes hate speech.. |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Johnson5258: 6:20am On Nov 22, 2019 |
The common man will see it when Lagos to Ibadan becomes #3,00.00 and cover the journey in less than 45minute, they will also benefit it when housing pressure reduces in Lagos and you can access more than 6 States in less than an hour, when companies fill up the whole express, when farmers can transport there farm produce easily and a lot more. ourkobo: |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Johnson5258: 6:22am On Nov 22, 2019 |
Relax, it's not profit sharing you will surely see them when they materialize. ebuzchief: |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Difrent: 6:39am On Nov 22, 2019 |
VirginSearcher: Which kind nonsense comment be this? The useless trump has done things much worse than border closure but you chose to ignore ,Hypocrite. 1 Like |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Oceannaagent: 7:08am On Nov 22, 2019 |
Fresh from the oven If you think Treasury bill isn't worth it anymore We at the Grenadines a member of PaltonMorgan have an alternative we called Buyback Our interest rate is 18% pa Invest certain amount with us and be rest assured of an investment worth having For details Call or whatsapp +234 7 0 3 4 5 0 3 3 5 2 NB: for certain amount of deposit |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Joylove2324(f): 9:44am On Nov 22, 2019 |
Nice one from our economic team, gradually we are getting there. |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Lydia696: 9:47am On Nov 22, 2019 |
Thank you Buhari and Osinbajo for this great move |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by okefrancis: 9:52am On Nov 22, 2019 |
This is another good development and all common men will enjoying it as well.thanks to Buhari/Osinbajo administration |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by ojokolax: 9:55am On Nov 22, 2019 |
Sometimes, It is a little difficult to feel the impacts of these government actions as they are not directly targeted at the masses but then the same people who are complaining without having a full understanding of economic policies are the same ones that still find it hard to fathom the not so complex TraderMoni. we need to learn to keep an open mind 1 Like |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Arubajagz: 10:07am On Nov 22, 2019 |
Many do not know the meaning of INVESTMENT, so they expect to see the yield immediately the next day. 1 Like |
Re: NEC Approves $250 Million investment For Nigeria Soverign Investment Authority by Mykelhendriz: 7:09pm On Nov 22, 2019 |
modelmike7: Lol You might call it bitterness if you want to.. But am talking from my own point of view... Insulting me didn't change shit |
(1) (Reply)
Millions Of Nigerians Will Not Have Access To Their Bank Accounts From January / VAT Brouhaha: SE Should Assume A Neutral Stand. / Alex Ekweme Federal University: Can Igbos Take This
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 29 |