Business - Abia ThinkTank News

Nov

2024

Don’t Hike Prices Of Food Items During Xmas, New Year Celebration – Oluremi Tinubu Appeals To Market Women

Don’t Hike Prices Of Food Items During Xmas, New Year Celebration – Oluremi Tinubu Appeals To Market Women As the Yuletide season draws nearer, the First Lady, Senator Oluremi Tinubu, has appealed to market women to refrain from unfair hike in prices of food items during the festive season. This is as the President’s wife has inaugurated a 3.1 kilometer runway at the Wilberforce Chuba Okadigbo International Airport, Onueke, Ebonyi State. She performed the ceremony on the margins of her visit to the state where she attended the 2024 Ebonyi Women’s Day Celebration. She was joined at the inauguration ceremony…

Nov

2024

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Abia’s Green Gold: Unlocking The Potential Of Palm Oil For Sustainable Development – By Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Good Governance

Abia's Green Gold: Unlocking the potential of palm oil for sustainable development Governor Alex Chioma Otti's vision for Abia State is ambitious, with a 50-year plan that aims to transform the state into a major player in various sectors of the domestic and international economy. Today, we want to zero in on the palm oil industry. It is his hope that Abia State representingNigeria will certainly rival Malaysia and Indonesia. Generally, his Prosperous Abia plan is broken down into two 25-year phases, with each phase having its own theme and objectives. The governor's goal is to cascade resources into different…

Nov

2024

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CBN Send Fresh Warning To Banks, Directs Them As Priority To Load ATMs

Business, CBN/Commercial Banking, Economy, News Flash

CBN Send Fresh Warning To Banks, Directs Them To Load ATMs The Central Bank of Nigeria (CBN) has directed banks to prioritise cash disbursement through automated teller machines (ATMs). CBN gave the directive in a circular to banks on Friday titled ‘Mystery shopping & spot checks on cash disbursement activities of deposit money banks (DMBs)”. In the circular signed by Solaja Olayemi, acting director, currency operations department at CBN, the apex bank said it commenced spot checks to ensure efficient and responsible cash disbursement to the public and prevent the disbursement of mint banknotes to persons hawking naira notes. “Please…

Nov

2024

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Abia’s Entrepreneural Spirit: Trade, Factories And Development: A Historical Assessment – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Economy, Good Governance, News Flash

Abia's Entrepreneurial Spirit: Trade, Factories and Development: A Historical Assessment Abia State is a hub for trade, factories, and still striving for development in Nigeria. The state boasts an impressive array of industries, including brewing, textiles, and manufacturing. Let's dive into the history of some of the notable factories and industries in Abia State.Nigerian Breweries Plc, located in Aba, has been operational since 1957 and was upgraded in 2014.Guinness Nigeria Plc, another major brewing company, also operates in Abia State.Aba Textile Mills is a significant player in the textile industry, producing various fabrics and materials.International Glass Industry (IGI) in Aba…

Nov

2024

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NNPC Sack Top Officials, Names Replacements In A Major Shake-Up

Business, News Flash, Oil & Gas

NNPC Sacks Top Official, Names Replacement In A Major Shake-up The Nigerian National Petroleum Corporation (NNPC) has announced the removal of Umar Ajiya as the Chief Financial Officer (CFO) and the appointment of Mr. Adedapo A. Segun as his replacement. This was disclosed in a statement released on Wednesday by the company’s spokesperson, Olufemi Soneye, via NNPC’s official X (formerly Twitter) handle. In addition to this change, the company also appointed Isiyaku Abdullahi as the Executive Vice President (EVP) of Downstream Operations. Furthermore, Udobong Ntia has been named the Executive Vice President (EVP) of Upstream Operations, completing a significant reshuffle…

Nov

2024

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X-Raying Governor Otti’s Bold Tourism Vision – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Culture, News Flash

X-Raying Governor Otti's Bold Tourism Vision The dynamism in global oil prices has exposed Nigeria's vulnerabilities, including Abia State's, highlighting the need for economic diversification. While agriculture is often touted as the "messianic industry," Abia State's tourism sector, as the governor is revamping, will attract substantial foreign exchange earnings. Recent reform efforts seem to point to this fact. Abia State, like Nigeria, defines tourism broadly as arts and culture, nature, conservation, and other aspects. Dr Alex Chioma Otti is mirroring Rwanda, South Africa, and Ghana. Abia State's approach remains promising.Examples are, investment in arts and culture, tapping its tourism potential,…

Nov

2024

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Ohafia LGA’s Economic Renaissance: Harnessing Local Resources For Revenue Expansion – By Dr. Chukwuemeka Ifegwu Eke

Abia North, Business, Columns/Opinions/Letters, Good Governance, News Flash, Ohafia LGA

Ohafia LGA's Economic Renaissance: Harnessing Local Resources for Revenue Expansion Abia State's Ohafia LGA Internally Generated Revenue (IGR) data 2021 was not readily available at the time of preparing this report, however this discussion must be brought to the front burner. Let's provide some insights on Nigeria's IGR for that period. In the first half of 2021, Nigeria's 36 states and the FCT generated N849,123,384,003.55 in IGR, with a 13.21% growth from the first to the second quarter. Lagos State led with N267,232,774,434.06, followed by FCT and Rivers State. The South-West zone had the highest revenue, while the North-East zone…

Nov

2024

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No Shop Owner Will Lose His/Her Shop In The Ongoing Remodeling Of Ariaria International Market, Ekeoma Market And Others – Governor Otti Assures

Abia State, Business, Good Governance, News Flash

NO SHOP OWNER WILL LOSE HIS/HER SHOP IN THE ONGOING REMODELING OF ARIARIA INTERNATIONAL MARKET, EKEOHA MARKET AND OTHERS, GOVERNOR OTTI ASSURES. Abia State Governor Dr. Alex Otti, OFR, has assured that no shop owner in the A-line section of the Ariaria International Market and Ekeoha Market undergoing remodeling will lose his/her shop when the shops will be reallocated on completion. The Governor gave the assurance on Wednesday Nov. 5th, when he received in audience a delegation of the National Association of Nigeria Traders (NANs) in his office. According to Governor Otti, every shop owner should be given right of…

Nov

2024

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Apostle Chibuzo Chinyere Leads Investors To Meet Governor Otti, Names Investment Target Areas In ABIA State

Abia State, Business, Economy, Good Governance

APOSTLE CHIBUZO CHINYERE LEADS INVESTORS TO MEET GOVERNOR OTTI, NAMES INVESTMENT TARGET AREAS IN ABIA STATE. The General Overseer of Omega Power Ministry (OPM) and Traditional Ruler of Ohanko Ndoki Community, Ukwa East LGA, Apostle Chibuzo Chinyere led a team of investors to discuss areas and targets of investment in Abia State to support the Governor Otti led government. Speaking to the press after a close door business meeting with Governor Alex Otti, Apostle Chibuzo Chinyere said that he had to travel to different countries to seek investment and investors who would support the achievements of the Governor so far.…

Nov

2024

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Dangote Refinery Succumbs To Pressure, Discloses New Petrol Prices

Economy, Business, News Flash

Dangote Refinery Succumbs To Pressure, Discloses New Petrol Prices Dangote Refinery has disclosed the price of its petrol, saying that it sells at N990 per litre in trucks and N960 per litre into ships. The disclosure follows the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) claim of importing the products at cheaper rates compared to that of Dangote. The marketers had in an earlier interview claimed that they are buying at cheaper rates abroad while calling on Dangote Refinery to engage stakeholders. But in its reaction, the refinery said that…