Business

Aug
19
2024
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By Abia ThinkTank
NNPC Ltd Speaks On Fuel Supply Situation

NNPC Ltd Speaks On Fuel Supply Situation

Economy, Business, News Flash, Oil & Gas
NNPC Ltd Speaks On Fuel Supply Situation The Nigerian National Petroleum Company Limited (NNPC Ltd.) has breaks silence on fuel supply situation in the country. The NNPC Ltd in a statement released today says the organization regrets the tightness in fuel supply witnessed in some parts of Lagos and the FCT. The statement by Olufemi SoneyeChief Corporate Communications OfficerNNPC Ltd attributes the tightness to distribution challenges. NNPCLimited is urging motorists to shun panic buying stressing that it is working round the clock with relevant stakeholders to restore normalcy.
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Aug
16
2024
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By Abia ThinkTank
President Tinubu, Equatorial Guinea President Sign Agreement On Gas Pipeline

President Tinubu, Equatorial Guinea President Sign Agreement On Gas Pipeline

Business, FGN, News Flash
Tinubu, Equatorial Guinea President Sign Agreement On Gas Pipeline President Bola Tinubu and Equatorial Guinea, President Teodoro Mbasogo on Wednesday evening in Malabo signed an agreement on the Gulf of Guinea Pipeline Project, further affirming the partnership for mutual development. The agreement covered legislative and regulatory measures for the gas pipeline, establishment and operation, transit of natural gas, ownership of the gas pipeline, and general principles. In his remarks at the event, President Tinubu, who is on a three-day official visit to Equatorial Guinea, said the signing of the agreement will open up new opportunities for gas exploration and employment.…
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Aug
16
2024
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By Abia ThinkTank
Nigerian Refineries Spent N127Billion On Salaries, Employee Benefits In 2 Years Without Producing Oil

Nigerian Refineries Spent N127Billion On Salaries, Employee Benefits In 2 Years Without Producing Oil

Business, Economy, News Flash, Oil & Gas
Nigerian Refineries Spent N127Billion On Salaries, Employee Benefits In 2 Years Without Producing Oil Nigeria’s refinery woes persist, with the country’s facilities struggling to function optimally. A SaharaReporters investigation reveals that despite their inability to refine crude oil or generate revenue, these companies have spent billions on employee compensation. An analysis of the Nigeria National Petroleum Company’s audited financial statements shows that the Kaduna, Port Harcourt, and Warri refinery companies collectively expended N127.326 billion on salaries, wages, and employee benefits between 2020 and 2021. The amount was allocated for salaries and wages in September 2020, despite the fact that all…
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Aug
16
2024
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By Abia ThinkTank
FGN Blasts Chinese Company, Says Presidential Jets Can’t Be Seized

FGN Blasts Chinese Company, Says Presidential Jets Can’t Be Seized

Business, FGN, Judiciary, News Flash
FG Blasts Chinese Company, Says Presidential Jets Can’t Be Seized The Presidency has broken its silence on a French Court for the seizure of three Nigerian Presidential jets. Citing Financial Times, Daily Trust had reported how the court ordered seizure of the aircraft over a botched deal Ogun State government and a Chinese company. The jets listed for seizure are a Dassault Falcon 7X, a Boeing 737-7N6/BBJ and an Airbus A330-243 stationed at Paris-Le Bourget and Basel-Mulhouse airports. Zhongshan Fucheng Industrial Investment Co. Limited,, a Chinese company whose export processing zone management contract was revoked by the Ogun state government…
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Aug
14
2024
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By Abia ThinkTank
Nigeria Telecom Sector In ICU – MTN Says

Nigeria Telecom Sector In ICU – MTN Says

Business, News Flash, Telecommunications
Nigeria Telecom Sector In ICU – MTN Says The CEO, MTN Nigeria, Karl Toriola, has said the telecom sector in Nigeria is now in an intensive care unit (ICU) gasping for breath. Speaking virtually at a hybrid telecom investment forum organised by FDC on Tuesday in Lagos, he said there’s an urgent need to rescue the sector from collapse. Toriola, who differed with the position of Airtel Nigeria CEO, Carl Cruz, who had expressed optimism that investment will continue to flow into the sector, said pricing increase has become imperative, adding that it is now an absolute necessity. Details later…
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Aug
11
2024
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By Abia ThinkTank
Govt Should Reveal Identities Of People Behind Oil Theft – Tony Elumelu

Govt Should Reveal Identities Of People Behind Oil Theft – Tony Elumelu

Business, Columns/Opinions/Letters, News Flash
Govt Should Reveal Identifies Of People Behind Oil Theft – Elumelu The founder and chairman of Heirs Energies, Mr Tony Elumelu has asked the Nigerian government and security agents to disclose those behind oil theft in the country. Elumelu spoke in an interview published by the Financial Times (FT) on Friday. Elumelu said oil theft contributed to the divestment of international oil companies in Nigeria. “Who is behind the theft, I ask. It’s a question that has confounded many Nigerians,” he said. “This is oil theft, we’re not talking about stealing a bottle of Coke you can put in your…
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Aug
09
2024
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By Abia ThinkTank
Innoson Meets President Tinubu, Promises To Supply CNG Buses Soon

Innoson Meets President Tinubu, Promises To Supply CNG Buses Soon

Business, FGN, News Flash
Innoson Founder Meets Tinubu, Promises To Supply CNG Buses Soon The Founder and Chief Executive Officer of Innoson Vehicle Manufacturing, Mr Innocent Chukwuma, has announced that the commuting public will soon benefit from cheaper transportation through Compressed Natural Gas, CNG-powered buses. He also urged Nigerians to exercise patience with the Bola Tinubu administration, asking them to “give him time.” “I’ve discussed with him (President Tinubu), and soon the masses will have plenty of CNG buses on the road,” Mr Chukwuma told journalists after emerging from closed-door talks with President Bola Tinubu at the Aso Rock Presidential Villa, Abuja, on Thursday.…
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Aug
05
2024
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By Abia ThinkTank
Exposed: How Dangote Deceived Nigerian Lawmakers, Diesel Quality Worse Than Presented.

Exposed: How Dangote Deceived Nigerian Lawmakers, Diesel Quality Worse Than Presented.

Business, National Assembly, News Flash
EXPOSED: How Dangote Deceived Nigerian Lawmakers, Diesel Quality Worse Than Presented “In terms of quality, when we started, our quality was about six hundred to six fifty ppm, the ppm was one of the best in terms of quality at the time we started. But as of today, we are at 87 ppm. And you can take a sample on Monday. By Monday, we will be less than 50 ppm. By the beginning of August, we will be at 10 ppm.” “In terms of quality, nobody can produce anything better than us. I just got the result from our official…
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Jul
30
2024
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By Abia ThinkTank
FGN Overrules NAMA, Suspends Planned 800% Levy Hike

FGN Overrules NAMA, Suspends Planned 800% Levy Hike

Business, Economy, FGN, News Flash
FG Overrules NAMA, Suspends Planned 800% Levy Hike The Nigerian Airspace Management Agency has suspended its earlier announced increase in navigational charges. This was made known through a statement by the Director of Public Affairs and Consumer Protection of NAMA, Abdullahi Musa, on Monday. The NAMA spokesman noted that the backtrack by the agency was in response to the directive of the Minister of Aviation and Aerospace Development, Festus Keyamo. Musa added that the decision follows the Minister’s recognition of the current economic challenges faced by Nigerians. Last Friday, NAMA announced its intention to raise its navigation charge by 800…
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Jul
30
2024
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By Abia ThinkTank
Gov. Otti Inaugurates Council On Ease Of Doing Business In ABIA State

Gov. Otti Inaugurates Council On Ease Of Doing Business In ABIA State

Abia State, Business, Economy, Good Governance, News Flash
GOVERNOR OTTI INAUGURATES COUNCIL ON EASE OF DOING BUSINESS IN ABIA STATE. In a strategic move to sustain the gains recorded on the ease of doing in the State, make business seamless and accelerate the economic development of the State, Abia State Governor, Dr. Alex Otti, OFR has inaugurated the Abia State Council on the Ease of Doing Business. Rising from the weekly State Executive Council meeting on Monday 29th July, Governor Otti inaugurated the Council which has the Deputy Governor of the State Engr. Ikechukwu Emetu as the Chairman. The Governor who described the inauguration of the Council as…
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