Firstly, this question explains how you read a file line by line in PHP. The top and bottom of it is:
$handle = fopen("inputfile.txt", "r");
if ($handle) {
    while (($line = fgets($handle)) !== false) {
        // process the line read.
    }
} else {
    // error opening the file.
}  
fclose($handle);
Now in your case, you've got a structured line. Namely.
<name><space><value>
I would strongly, strongly argue against using a multi dimensional array for this. Instead, go for an OOP based solution. First, define a class.
class Person {
    protected $name;
    protected $code;
    function __construct($line) {
        // Split and load.
    }
}
Then you can create an array of Person objects.
$people = array();
Then cycle through each line and create a Person object.
while(($line = fgets($handle)) !== false) {
    $people[] = new Person($line);
}
Now you've got all the pieces of the puzzle, it's up to you to put them all together!