Business - Abia ThinkTank News

Nov

2024

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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By Abia ThinkTank

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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By Abia ThinkTank

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…

Oct

2024

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To Avoid Likely Shut Down, MTN Sets To Hike Tariff

Business, Columns/Opinions/Letters, Economy, News Flash, Telecommunications

MTN Sets To Hike Tariff To Avoid Shut Down MTN Nigeria, the country’s largest telecom operator, has stressed the urgent need for the telecommunications sector to return to profitability to sustain its operations. The Chief Executive Officer of MTN, Karl Toriola, made this known on Monday during a tour of MTN’s facilities by Fellows of the Media Innovation Programme in Ibeju-Lekki, Lagos. The MTN chief, who has about 78 million subscribers under his watch, pinpointed that the sector has been accumulating significant losses and that immediate action is necessary to reverse this trend. The operator with a corporate social investment…

Oct

2024

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Dangote Refinery Asks Court To Annul Import Licenses Of NNPCL, Others In N100bn Lawsuit

Business, Judiciary, News Flash, Oil & Gas

Dangote Refinery Asks Court To Void Import Licences Of NNPCL, Others In ₦100bn Suit Dangote Petroleum Refinery and Petrochemicals has filed a lawsuit at the Federal High Court in Abuja requesting the annulment of import licenses granted to the Nigerian National Petroleum Company Limited (NNPCL), Matrix Petroleum Services Limited, AA Rano Limited, and four other companies. The case centred on the importation of refined petroleum products that Dangote Refinery claimed were already being produced domestically without shortages. In the suit, Dangote Refinery is also demanding ₦100bn in damages from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The refinery…

Oct

2024

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Amid Power Grid Collapse, Nigeria Supplies Togo, Benin 24-Hour Power – TCN CEO

Business, FGN, News Flash, Power & Energy

Nigeria Supplies Togo, Benin 24-Hour Power Supply – TCN The Managing Director and CEO of the Transmission Company of Nigeria, Sule Abdulaziz, has disclosed that Nigeria supplies 24-hour electricity to neighbouring countries Togo and Benin, amid ongoing discussions in the country following a recent power grid collapse. “We supply Togo, Benin, and Niger. They get power from Nigeria on a 24-hour basis, and they are paying for it,” Abdulaziz stated during an appearance on Channels TV’s Politics Tonight program on Sunday. When asked why many Nigerians do not enjoy uninterrupted power, he responded, “Nigerians are getting 24-hour supply, but it’s…

Oct

2024

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Davido’s Father Opens Power Plant Worth N3.4 Trillion Capable Of Supplying Electricity To 15% Of Nigerian Homes

Business, News Flash, Power & Energy

Davido's father, Mr. Adeleke Adedeji, has opened a power plant worth 3.4 trillion Naira, which will supply electricity to 15% of Nigerian homes Initially, Mr. Adeleke wanted Davido to go to school and study accounting so he will be there to manage his businesses in Nigeria, but Davido was more passionate about pursuing a career in music. With how wealthy Davido's father is, Davido could decide never to work in his entire life and he would never go broke, but he's still out here hustling like someone from a poor background. Davido should be your role model for hard work…

Oct

2024

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Allen Onyema, Air Peace CEO Indicted For Obstructing U.S Fraud Probe, Fresh Charges Filed

Business, Crime, News Flash

Onyema Air Peace CEO Indicted For Obstructing U.S. Fraud Probe, Fresh Charges Filed Allen Onyema, founder and CEO of Air Peace, a Nigerian airline, has been charged with obstruction of justice in a new indictment in the United States. He was accused of submitting false documents in an attempt to halt an investigation into earlier charges of bank fraud and money laundering. Ejiroghene Eghagha, the airline’s Chief of Administration and Finance, is also facing charges for his role in the obstruction and previous bank fraud schemes. According to U.S. Attorney Ryan K. Buchanan, Onyema allegedly used his airline as a…

Oct

2024

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FGN Names 63 Items Exempted From VAT Under New Fiscal Reforms By Tinubu(Full List)

Economy, Business, FGN, News Flash

63 Items Exempted From VAT Under New Fiscal Reforms By Tinubu (See Full List) The Federal Government has announced the exemption of 63 items from Value-Added Tax (VAT), as part of its latest fiscal reforms. This was revealed by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, via a post on X (formerly Twitter) on Friday. The exemptions are outlined in the official ‘Value Added Tax (Modification) Order, 2024,’ dated September 3, 2024. The announcement follows the recent introduction of fiscal concessions aimed at revitalising Nigeria’s oil and gas sector, as disclosed by the…

Sep

2024

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NNPCL/Dangote: Fresh Dispute Emerges Over Supply Volume

Business, Economy, News Flash, Oil & Gas

NNPCL/Dangote: Fresh Dispute Emerges Over Supply Volume More controversy has emerged in the execution of a sale-purchase deal on premium motor spirit, otherwise known as petrol, between the Nigerian National Petroleum Company Limited, NNPCL, and Dangote Refinery. Findings by Vanguard yesterday indicated that while the NNPCL believes Dangote cannot supply an adequate quantity of the product, Dangote told Vanguard it had already delivered 111 million litres of the product within three days (last Sunday to yesterday), adding that loading was still ongoing steadily.NNPCL last weekend said Dangote could only deliver 16.8 million litres out of the 25 million litres it…