N43.4B PERFORMANCE GRANT, 2900 MEGAWATTS, 25% SALARY DEDUCTION

N111.2 Billion Research Budget

A review of Nigeria’s 2020 Appropriation Bill by DATAPHYTE indicates that Nigeria earmarks a certain portion of its budget to research and development. In just five sectors, for example, more than ₦111.2 bn was budgeted for research and development in 2020. Realities across the world are pointing to the need for innovative research and research-based policy decisions. [DATAPHYTE]

N43.4b Performance Grant

The federal government says it has disbursed N43.42 billion (about $120.6 million) to 24 eligible states based on their achievements under the performance-based grant component of the World Bank-assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) programme in 2018. The 24 benefiting states who met the eligibility criteria are Abia, Adamawa, Bauchi, Benue, Delta, Edo, Ekiti, Enugu, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Niger, Ondo, Ogun,Oyo, Osun, Sokoto, Taraba and Yobe .[PREMIUM TIMES]

N195billion Budget Slash

Akwa Ibom state House of Assembly has slashed the 2020 state’s budget from N597.73 billion to N195billion. The development came in the ongoing emergency plenary by the House on Wednesday, presided over by the Speaker, Aniekan Bassey. The 2020 budget was signed into law by the state governor, Mr Udom Emmanuel on December 18, 2019. [VANGUARD]

2900 Megawatts

The national electricity grid system collapsed early Wednesday, but was restored shortly, leaving power generation at 2,900 megawatts afterward. The Transmission Company of Nigeria (TCN), which manages the national grid system, on Wednesday morning confirmed the system disturbance, saying the incident occurred at 1am but could not immediately confirm the cause of the power loss. [DAILY TRUST]

15 Rescued

The Coordinator, Defence Media Operations, John Enenche, disclosed this in a statement in Abuja. Mr Enenche said the troops of Sector 2 while on routine patrol at Nembe Owelesu, Bayelsa, encountered sea robbers at Abuja Open Water-Nembe who escaped into the creeks. He added that the troops rescued 15 persons held hostage in five speed boats by the hoodlums.[PREMIUM TIMES]

825 tests, 195 positive

The Minister of Health, Dr Osagie Ehanire, on Wednesday, revealed that 825 tests yielded the 195 positive results announced by the Nigeria Centre for Disease Control, NCDC on Tuesday night. The Minister disclosed this during the daily briefing by the Presidential Task Force (PTF) on COVID-19 in Abuja. [VANGUARD]

$3.4b Repayment Plan

Nigeria is to fully repay the $3.4 billion (N1.224 trillion at N360/$1) International Monetary Fund (IMF) loan approved on Tuesday by 2025.
This is as a finance expert, Professor Uche Uwaleke, warned that government’s decision to take the loan was unreasonable. [TRIBUNE ONLINE]

25% Salary Deduction

The Join Unions of Tertiary Institutions of Kaduna State (JUTIKS) and the state chapter of the Nigerian Labour Congress (NLC) have rejected the 25 per cent deduction of workers’ salaries by the state government. Governor Nasir el-Rufai had at the weekend announced the deduction of 25 per cent of salaries of civil servants, receiving above N67,000 to provide palliatives for vulnerable residents affected by the Covid-19 lockdown.[THIS DAY]

70 Houses

Over 70 houses including a primary school and three churches have been destroyed by rainstorm at Oke-Igbo, Ile-Oluji local government area of Ondo State. The rainstorm was said to have lasted less than 30 minutes. Several electric poles were also pulled down by the rainstorm.[THE NATION]