Business

Jul
01
2025
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By Abia ThinkTank
Dangote Refinery Slashes Petroleum Price Below N850

Dangote Refinery Slashes Petroleum Price Below N850

Business, Economy, FGN, News Flash, Oil & Gas
Dangote Refinery Slashes Petrol Price Below N850 The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, popularly known as petrol, from N880 to N840 per litre. Spokesman for the Dangote Group, Anthony Chiejina, confirmed the price adjustment to The PUNCH on Monday night, saying the new rate took effect on June 30. “PMS price has been reduced from N880 to N840 per litre effective 30th June,” Chiejina said. AttNews recalls that the Dangote refinery hiked the price of petrol to N880 as tension escalated during the 12-day crisis between Israel and Iran, raising the price of…
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Jun
21
2025
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By Abia ThinkTank
Dangote Refinery Increases Petrol Ex-Depot Price

Dangote Refinery Increases Petrol Ex-Depot Price

Business, News Flash, Oil & Gas
Dangote Refinery Increases Petrol Ex-depot Price Nigerians may soon pay more for petrol as the Dangote Petroleum Refinery on Friday increased its ex-depot price for Premium Motor Spirit to N880 per litre, raising fresh concerns over fuel affordability and price volatility in the downstream sector. Checks on petroleumprice.ng, a platform tracking daily product prices, and a Pro Forma Invoice seen by The PUNCH confirmed the hike, representing a N55 increase from the previous rate of N825 per litre. The increment would ripple across the entire fuel distribution chain, likely pushing pump prices above N900/litre in some parts of the country,…
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Jun
12
2025
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By Abia ThinkTank
Nigeria Records N5.172 Trillion Surplus Trade In First Quarter Of 2025

Nigeria Records N5.172 Trillion Surplus Trade In First Quarter Of 2025

Abia State, Business, Economy, FGN
Nigeria Records N5.172 Trillion Surplus Trade In First Quarter Of 2025 In the first quarter of 2025 (Q1 2025), Nigeria recorded N5.172 trillion surplus trade, according to the National Bureau of Statistics (NBS). NBS in its “Foreign Trade in Goods Statistics Q12025,” revealed that the country’s import dipped to N15.426 trillion as export rose to N20.59trillion, totally N36.02trillion trade in the period under review. The report said total trade soared from the N33.92trillion recorded in the corresponding period of 2024. NBS said, “Nigeria’s total merchandise trade stood at N36.024.66 trillion in Q1, 2025. This represents an increase of 6.19per cent…
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Jun
12
2025
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By Abia ThinkTank
Gov. Otti Seeks Partnership With China, Expresses Dissatisfaction With CCECC Over Project Delay

Gov. Otti Seeks Partnership With China, Expresses Dissatisfaction With CCECC Over Project Delay

Abia State, Business, Economy, Good Governance, News Flash
GOV. OTTI SEEKS PARTNERSHIP WITH CHINA, EXPRESSES DISSATISFACTION WITH CCECC OVER PROJECT DELAY. Abia State Governor, Dr. Alex Otti has sought useful partnership with the People's Republic of China to improve the economy of the State. Governor Otti was speaking on Wednesday, 11th June when he received a delegation of the Consul-General of the People's Republic of China to Nigeria, Ms. Yan Yuqing, who paid him a working visit. The Governor, who said that he is willing to partner the People's Republic of China, noted that Abia people share similar traits with Chinese; traits such as resilience and hard work.…
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Jun
11
2025
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By Abia ThinkTank
FGN To Train 100,000 Youths Annually In Forex Trading

FGN To Train 100,000 Youths Annually In Forex Trading

Business, FGN, News Flash, Youths
FG To Train 100,000 Youths Annually In Forex Trading The Federal Government has signed a Memorandum of Understanding with Investonaire Academy to train 100,000 young Nigerians every year in foreign exchange trading, as part of efforts to tackle unemployment and drive financial inclusion. This was contained in a statement on Tuesday, signed by the Federal Ministry of Youth Development’s Director of Information and Public Relations, Omolara Esan. The MoU, sealed on Monday in Abuja, will see Nigerian youths equipped with practical skills in forex trading, risk management, and financial literacy, with the aim of preparing them to actively participate in…
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Jun
11
2025
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By Abia ThinkTank
CBEX Resumes In Nigeria, Asks Investors To Deposit $200 To Recover Lost Investments

CBEX Resumes In Nigeria, Asks Investors To Deposit $200 To Recover Lost Investments

Business, Economy, News Flash
CBEX Resumes In Nigeria, Asks Investors To Deposit $200 To Recover Lost Investments A digital financial platform, Crypto Bridge Exchange, otherwise called CBEX, which is a Ponzi scheme, has resumed business across the country weeks after it suddenly halted operation and made away with hundreds of thousands of dollars belonging to unsuspecting Nigerians investors. Investors said they were asked to return to the scheme’s platform to claim their lost investments. “Someone asked me to log into CBEX account this morning that they have returned our balance,” one of the investors told the Peoples Gazette on Tuesday, sharing a screenshot of…
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Jun
09
2025
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By Abia ThinkTank
The Dollar, Yuan, And Naira: A Triangular Guide To Business, East Of The Niger – By Dr. Chukwuemeka Ifegwu Eke

The Dollar, Yuan, And Naira: A Triangular Guide To Business, East Of The Niger – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Economy, Good Governance
The Dollar, Yuan, and Naira: A Triangular Guide to Business, East of the Niger I. Currency Dynamics in Nigeria's Eastern CorridorThe Nigerian Naira (NGN) operates under extreme volatility, heavily influenced by oil prices where petroleum constitutes 40% of Nigeria's GDP. The U.S. Dollar (USD) dominates transactions while the Chinese Yuan (CNY) is critical for machinery, textiles, and electronics sourcing. Key challenges include NGN-USD Volatility where the Naira faces bearish pressure with critical levels at ₦1,562.50/USD (resistance) and ₦1,327.50/USD (support). Aba importers rely on unofficial channels with rates 20-40% higher than official quotes due to dollar scarcity. Direct CNY-NGN conversions remain…
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Jun
06
2025
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By Abia ThinkTank
Abia State’s Commercial Heritage: Historical Context And Economic Backdrop – By Dr. Chukwuemeka Ifegwu Eke

Abia State’s Commercial Heritage: Historical Context And Economic Backdrop – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Economy, Good Governance
Historical Context and Economic BackdropAbia State’s commercial heritage forms the bedrock for social entrepreneurship in Aba, Umuahia, and Abiriba. Aba, famously called the "Japan of Africa," built its reputation on indigenous manufacturing, especially in leatherworks and textiles from hubs like Ariaria Market. At its peak, shoemakers exported over two million shoes monthly across West Africa, generating ₦1 billion ($2.5M) annually. Umuahia evolved as an administrative center, while Abiriba nurtured a culture of commerce. Despite this potential, infrastructural neglect—exemplified by the derelict Port Harcourt Road in Aba—hampered growth for decades. Post-2018, social entrepreneurship surged nationally, with ~40% of Nigerian social enterprises…
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May
19
2025
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By Abia ThinkTank
Nigerian Palm Oil About To Get Expensive As Indonesia Increases Export Levy

Nigerian Palm Oil About To Get Expensive As Indonesia Increases Export Levy

Economy, Business, News Flash
Nigerian Palm Oil About To Get Expensive As Indonesia Increases Export Levy Indonesia, the world’s largest producer of palm oil, increased the export tax on crude palm oil (CPO) from 7.5% to 10% on May 17. This policy shift is aimed at financing biofuel initiatives and replanting activities within the country. Nigeria, the world’s fifth-largest palm oil producer, still imports almost half of the two million tons consumed domestically each year. Palm oil has lost its status as the most reasonably priced vegetable oil globally due to supply shortages — including from Malaysia, the world’s second-largest producer. The Indonesian Ministry…
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May
18
2025
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By Abia ThinkTank
Nigerian Breweries Appoints New Managing Director

Nigerian Breweries Appoints New Managing Director

Business, News Flash, Personality
Nigerian Breweries Appoints New Managing Director Nigerian Breweries Plc has announced a leadership transition that will see Mr. Hans Essaadi conclude his role as Managing Director and Chief Executive Officer on June 30, 2025. The Board has appointed Mr. Thibaut François Baptiste Boidin as his successor, with effect from July 1, 2025. According to the company’s statement filed with the Nigerian Exchange Group, Mr. Essaadi will also resign from the Board on June 30, 2025, and subsequently assume a new position as Managing Director of HEINEKEN Poland. Essaadi joined the Board and took over as Managing Director/CEO on July 31,…
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