Report Backs FG’s Moves to Sell Moribund Assets Nume Ekeghe A new report by the panAfrican credit rating agency, Agusto & Co, has backed the decision of the federal government to sell assets to fund critical infrastructure.
Apart from its plan to engage in borrowings to fund the 2021 budget, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had said during a presentation on the 2021 budget that the federal
government would also sell some non-oil assets to serve as an additional source of finance for the year’s budget. In its report, titled: “2021: The Year of the Vaccine,” which THISDAY obtained yesterday, Agusto & Co advised the
federal government to undertake “bolder actions on asset reforms by reducing its exposures to moribund stateowned enterprises such as the refineries.” It noted that funds earned from such divestments could
be channelled into other highimpact assets such as critical infrastructure. It stated that the COVID-19induced economic crisis creates a perfect storm to implement market-friendly reforms that had long been in the books
of the federal government. “We believe the government should expend some of its political capital on a full deregulation of the downstream petroleum Continued on page 10
Kyari: $10bn Infrastructural Investment Ongoing in Energy Sector... Page 8 Thursday 21 January, 2021 Vol 25. No 9419. Price: N250
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In New Reforms, Decentralisation of Police Tactical Operations Begins Force devolves power to CPs, DPOs to take directives from govs, LG chairmen Chiemelie Ezeobi, Eromosele Abiodun in Lagos and Kingsley Nwezeh in Abuja Commissioners of Police (CPs) in state commands and divisional police
officers (DPOs) have been invested with more powers in discharging their responsibilities, the Inspector-General of Police, Mr. Mohammed Adamu, announced yesterday. Adamu, during an
interview on ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers, said the decentralisation of powers was part of the several reforms contained in the Police Act 2020 to revitalise the law enforcement agency
to tackle the nation’s security challenges. Also, in a bid to boost the morale of police personnel, Adamu stated that President Muhammadu Buhari has approved the upgrade of police salary structure.
Police pensioners are also expected to benefit from the president's gesture. The approval is coming in the aftermath of the recent #ENDSARS protest, which the police boss blamed on fake news.
According to him, with the decentralisation, police commissioners no longer need his approval before making decisions in their areas of responsibility (AOR). Continued on page 10
Buhari Cancels OMSL’s Controversial Secure Anchorage Area Contract EFCC may begin probe of bribery allegation by Ayeni NIMASA to take back security of ports Abiodun Eromosele President Muhammadu Buhari has cancelled the lucrative but controversial Secure Anchorage Area (SAA) contract handled by Ocean Marine Solutions Limited (OMSL), a highlyplaced presidency source told THISDAY yesterday, saying the president has agreed with long-standing security concerns expressed about the deal by senior administration officials. The contract, in which OMSL in partnership with the Nigerian Navy, has been
providing security services to foreign ships calling at the Apapa and Tin Can Island Ports in Lagos at $2,000 per day at a designated area in the water called the Secured Anchorage Area, became controversial when the Minister of Transportation, Hon. Rotimi Amaechi, in February last year announced its cancellation. The ownership of the company had also become a subject of controversy between Continued on page 10
Democracy Prevailed, Says Biden, Urges Americans to Unite... Page 40
MOMENT OF HISTORY... President Joe Biden takes the oath of office as the 46th US president in Washington DC…yesterday