Business - Abia ThinkTank News

Dec

2024

NAFDAC Begins Enforcement Of Ban On Alcohol In Sachets, PET Bottles; Urged Manufacturers To Comply

NAFDAC Begins Enforcement Of Ban On Alcohol In Sachets, PET Bottles; Urges Manufacturers To Comply Mojisola Adeyeye, director-general of the National Agency for Food and Drug Administration and Control (NAFDAC), has urged manufacturers and distributors to comply with the ban on alcohol in sachets and polyethylene terephthalate (PET) bottles. Speaking during a session at the NAN Forum in Abuja on Sunday, Adeyeye reiterated the ban and the agreement signed by the Distillers and Blenders Association of Nigeria. In 2018, the sale of alcoholic beverages in sachets and PET bottles smaller than 200ml was banned in Nigeria. Manufacturers were subsequently given…

Dec

2024

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By Abia ThinkTank

Nigeria Recorded N5.81 Trillion Trade Surplus In Q3 – National Bureau Of Statistics

Business, Economy, FGN, News Flash

Nigeria Recorded N5.81 Trillion Trade Surplus In Q3 Nigeria has recorded a trade surplus of N5.81tn in the third quarter of 2024, reflecting a remarkable rise in export earnings, according to the latest data from the National Bureau of Statistics. However, the surplus recorded in Q3 2024 is far lower than the N6.95tn trade surplus recorded in the previous quarter. The NBS in its foreign trade statistics report on Friday noted that Nigeria’s merchandise trade for the Q3 2024 was a total value of N35.16tn, marking an 81.35 per cent increase compared to the same period in 2023 and a…

Dec

2024

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By Abia ThinkTank

NNPC Shuns Local Market, Begins Export Of Petrol From Port Harcourt Refinery To Dubai

Business, Economy, News Flash, Oil & Gas

NNPC Shuns Local Market, Begins Export Of Petrol From Port Harcourt Refinery To Dubai The Nigerian National Petroleum Company (NNPC) has begun the export of petrol from the Port Harcourt Refinery to Dubai, shunning the local market. The Port Harcourt Refinery which began operations in November following rehabilitation shipped its first export of petroleum products to Dubai, with the company expected to load the cargo onboard the Wonder Star MR1 ship in the coming days. The ship will load 15,000 metric tons of the product, which translates to about 13.6 million litres. It is understood that the sulfur content of…

Dec

2024

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By Abia ThinkTank

Abia State Government Partners Coscharis Group To Roll Out Electric Vehicles Into The State’s Transport Sector

Abia State, Business, Good Governance, News Flash, Transportation

ABIA STATE GOVT. PARTNERS COSCHARIS GROUP TO ROLL OUT ELECTRIC VEHICLES INTO THE STATE’S TRANSPORT SECTOR. In a bid to sanitize and modernise its transport sector and introduce an organised logistics system in major cities of Aba, Umuahia, and Ohafia to create a very effective and sustainable transportation system for the State, the Abia State Government has concluded plans to partner with COSCHARIS to roll out Electric Vehicles for Intra City and State transport services. Speaking during a business meeting on Wednesday, December 4th in his Office with the Founder, President, and CEO of COSCHARIS Group Dr. Cosmas Maduka and…

Dec

2024

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By Abia ThinkTank

Abia State Government Assures Cocoa Farmers Of Economic Enhancement And Maximum Profitability

Abia State, Agriculture, Business, Good Governance, News Flash

ABIA STATE GOVERNMENT ASSURES COCOA FARMERS OF ECONOMIC ENHANCEMENT AND MAXIMUM PROFITABILITY Abia State Government has assured cocoa farmers in the state of maximum support in the production and sales of cocoa produce in the state. The Deputy Governor of Abia State, Engr Ikechukwu Lekwachi Emetu, FNSE, made this known during a stakeholder meeting in his office at Government House, Umuahia. Emetu stated that the current administration in the state ably led by Dr Alex Chioma Otti, OFR is poised to enhance the cocoa production index of the state by establishing six pilot cocoa estates in the state as captured…

Dec

2024

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By Abia ThinkTank

A TIME TO BELIEVE: Being Gov. Otti’s Speech At The Opening Ceremony Of The 2024 ABA International Trade Fair On 30/11/2024

Abia State, Business, Economy, Good Governance, News Flash

A TIME TO BELIEVE Being the Text of an Address Presented by Governor Alex C. Otti, OFR, at the Opening Ceremony of the 2024 Aba International Trade Fair on Saturday, November 30, 2024, at the Aba Mega Mall. Protocols, We have reached a very important point in the evolution of Aba as a major business destination in Nigeria and across the West African region. What happens in this city, say, in the next decade or less, would depend largely on how we harness the opportunities and access events like this. Beyond the excitement that comes with hosting international programmes of…

Nov

2024

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By Abia ThinkTank

Dangote Refinery Jet Fuel Exported To London, Iceland, Other Global Airports

Business, Economy, FGN, News Flash, Oil & Gas

Dangote Refinery Jet Fuel Exported To London, Iceland, Other Global Airports The Dangote Refinery has successfully exported its jet fuel to various international destinations, including airports in Iceland, Tenerife, and London. According to a report by SP Global Commodity Insights, the refinery’s Nigerian-made aviation fuel has reached prominent locations such as Heathrow Airport in the UK, as the petrochemical facility continues to scale up production. The report further highlights that between January and October this year, the majority of the refinery’s supply has been delivered to the Lome transshipment hub off Togo. South Korea has also emerged as the largest…

Nov

2024

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By Abia ThinkTank

NEW EASTERN COMFORT HOTEL REOPENED IN GLAMOUR

Abia State, Business, Good Governance, Hospitality, People & Events

NEW EASTERN COMFORT HOTEL REOPENED AMIDST POP, PAGEANTRY AND GLAMOUR On Sunday 24th November, 2024, guests were gathered at the New Eastern Comfort Hotel, ABA road, Umuahia for it's official re-opening. The event which started by 3.00pm attracted important dignitaries and captains of industries, Traditional rulers, Clergies, from different parts of ABIA State and neighbouring States. MC Nas who was the MC of the event supervised the Ribbon-cutting ceremony with dignitaries, Hotel management and staff. It was followed by a guided tour of the Hotel to showcase their facilities. There were lots of entertainments, merriments and musical performances. Goodwill messages…

Nov

2024

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By Abia ThinkTank

Bayelsa Government Bans All Ethnic, Tribal Traders’ Associations

Business, News Flash

Bayelsa Government Bans All Ethnic, Tribal Traders’ Associations Bayelsa State government has banned all tribal and ethnic-based traders’ associations operating in Swail and other markets in the state. Accordingly, the state Commissioner of Police has been directed to enforce the order by arresting any person or group of persons who continue to parade themselves as members of such associations at the various markets. The Deputy Governor, Senator Lawrence Ewhrudjakpo, gave the orders on Saturday after receiving a report from the Swali Market Conflict Resolution Committee during a meeting in Yenagoa. Speaking at the meeting which had in attendance a large…

Nov

2024

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By Abia ThinkTank

First Bank Of Nigeria (FBN) Holdings PLC Shareholders Approves Name Change Including Subsidiaries

CBN/Commercial Banking, Business, News Flash

At last, First Bank of Nigeria (FBN) Holdings Plc has received approval to change the company’s name to First Holdco Plc. The company’s shareholders approved the name change at the 12th Annual General Meeting (AGM), held virtually on Thursday, November 14, 2024. In a statement released over the weekend, Adewale Arogundade, the company’s Secretary, confirmed that the resolution extends to all by issuing FBN Holdings’ subsidiaries. According to the company, the change will be extended to all subsidiaries. The approved changes include shifting the company’s legal name from FBN Holdings Plc to First Holdco Plc and its brand name to…