Business - Abia ThinkTank News

Sep

2024

Meet Nigerian Woman Who Produces Over 10,000 Tons Of Cassava And Makes Over $12 Million Annually

MEET A WOMAN WHO PRODUCES OVER 10,000 TONS OF CASSAVA AND MAKES OVER $12 MILLION ANNUALLY Meet Yemisi Iranloye, the Nigerian entrepreneur who has become the undisputed "Cassava Queen." Despite facing competition from multinational corporations, she has maintained her dominance in the cassava industry. With her company, Psaltry International, Iranloye produces an impressive 10,000 tons of cassava annually, generating an astonishing annual turnover of $12 million. Her success is a testament to her unwavering determination and business acumen. Iranloye's journey began in her hometown of Ilesa, Osun State, Nigeria. She started her business with a modest investment and a deep…

Sep

2024

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By Abia ThinkTank

IPMAN Laments Selling Of Dangote Petrol Higher Than Imported Fuel

Business, Columns/Opinions/Letters, News Flash, Oil & Gas

IPMAN Decries Selling Of Dangote Petrol Higher Than Imported Fuel The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns over the pricing of petrol from the Dangote Refinery, urging the Nigerian National Petroleum Company Limited to ensure it is not sold at a higher price than imported fuel. IPMAN argues that such a disparity would be counterproductive to the nation’s drive for energy self-sufficiency and could negatively impact consumers and marketers alike. According to IPMAN on Monday, the pricing strategy for locally refined petrol should reflect the advantages of domestic production, offering Nigerians a more affordable option. The…

Sep

2024

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By Abia ThinkTank

EFCC Arrests Five Chinese Nationals For Alleged Illegal Mining Activities

Business, Crime, News Flash, Security

EFCC Arrests Five Chinese Nationals For Alleged Illegal Mining The Economic and Financial Crimes Commission (EFCC) has announced the arrest of five Chinese nationals involved in illegal mining activities in Akwa Ibom State. The arrest was made by operatives from the EFCC’s Uyo Zonal Directorate, following intelligence reports of unlawful mining operations in the region. In a press release, the EFCC disclosed that the suspects were apprehended by a Special Task Force on Illegal Mining at Ndito-Eka-Iba village in the Ibiono Local Government Area (LGA) of Akwa Ibom State. The illegal mining operation targeted ilmenite, a valuable titanium-iron oxide mineral…

Sep

2024

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By Abia ThinkTank

NNPC Announces New Petrol Price Across 36 States And Abuja

Business, News Flash, Oil & Gas

NNPC Announces New Petrol Price Across 36 States, FCT Nigerian National Petroleum Company Limited (NNPCL) has said that it will sell the petrol lifted from the Dangote Refinery at a price above N1,000 per litre in the far north. NNPC spokesperson, Olufemi Soneye, disclosed this on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’. Soneye explained that the price may go for as high as N1,019/litre in places like Borno State, and N999.22 in Abuja, Sokoto, Kano, and others. In Oyo, Rivers and other areas in the…

Sep

2024

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It’s Very Misleading – Dangote Refinery Speaks On Selling Petrol At N898 Per Litre

Business, Columns/Opinions/Letters, Economy, News Flash, Oil & Gas

It’s Very Misleading — Dangote Refinery Speaks On Selling Petrol At N898 Per Litre Dangote Petroleum Refinery says the claim by the Nigerian National Petroleum Company (NNPC) Limited that the refiner sold petrol at N898 per litre is misleading. In a statement on Sunday by Dangote Group, the company described the statement by NNPC as “mischievous”. There had been several news reports that NNPCL said it purchased fuel at N898 per litre from the Dangote Refinery in Lagos. But in a statement on Sunday by Dangote Group, the company described the statement by NNPC as “mischievous”. The Press statement reads:…

Sep

2024

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Abia State Gov. Alex Otti Urges Traders To Relocate To ABIA, Assures Them Of Adequate Security And Business Friendly Atmospheres

Abia State, Business, Economy, News Flash

ABIA STATE GOV. ALEX OTTI URGES TRADERS TO RELOCATE TO ABIA, ASSURES THEM OF ADEQUATE SECURITY AND BUSINESS FRIENDLY ATMOSPHERES: Governor Alex Chioma Otti OFR has assured leaders and traders of Alaba International Markets, Oyinbo, Ladipo, and United Market Leaders and Traders Association of Nigeria of adequate security measures, a business-friendly atmosphere, and a conducive environment to invest and do business in Abia State. Through his Special Adviser on Trade, Commerce, and Industry, Chief Nwaka Inem, Governor Otti expressed his administration's readiness to create physical infrastructural development and facilities that will serve as a one-stop business hub for investors and…

Sep

2024

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Emetu Charges Local Government Heads Of Service And Financial Management Officers To Follow Due Process In The Management Of Funds

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

EMETU CHARGES LOCAL GOVERNMENT HEADS OF SERVICE AND FINANCIAL MANAGEMENT OFFICERS TO FOLLOW DUE PROCESS IN THE MANAGEMENT OF FUNDS Abia State Deputy Governor, Engr. Ikechukwu Lekwachi Emetu, FNSE, has enjoined Heads of Service and other key Officers in the financial management of the local government to follow all laid down procedures in the Financial Memoranda, Fiscal Responsibility Act, the State Public Procurement Act, and other extant rules and financial regulations to obviate any form of misapplication of funds that may tend toward corruption. Emetu stated this during a 3-day seminar/workshop for financial managers of the local government organised by…

Sep

2024

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Benue Government Seals Ortom’s Oracle Business Over Tax Default

Business, Economy, News Flash, Northern Nigeria

Benue Govt Seals Ortom’s Oracle Business Over Tax Default The Benue State Board of Internal Revenue Service (BIRS) weekend sealed off the premises of Oracle Business Limited, owned by former Governor Samuel Ortom over an alleged N93.5 million tax default. Also sealed in the Makurdi operation led by the BIRS acting Chairman, Mr. Sunday Odagba and Board Secretary/Legal Adviser, Mr. Ushahemba Dekaa were Jagshu Filling Station over alleged N2.1millon default and Ubgechi Filling Station also in default of alleged N2.1million. The enforcement was a sequel to an order of a Makurdi High Court empowering the Board to enforce the consequences…

Sep

2024

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Dangote Refinery May Dump Nigeria Market, Export Petrol Over NNPC’s Conditions

Business, News Flash, Oil & Gas

Dangote Refinery May Dump Local Market, Export Petrol Over NNPC’s Conditions The Dangote refinery may resort to exporting its Premium Motor Spirit (petrol) following the refusal of the Nigerian National Petroleum Company Limited to be the sole buyer of its product. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than that of the international market. This is contrary to claims by the President of the Dangote Group, Aliko Dangote, that the refinery was waiting for the NNPC to roll out its product. On Saturday,…

Sep

2024

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Tinubu Signs 5 MoUs At Meeting With Chinese President, Xi Jinping – Says ‘I’m A Reformer With Verifiable Antecedents’

Business, Economy, FGN, News Flash

‘I’m A Reformer With Verifiable Antecedents’ – Tinubu Signs 5 MoUs At Meeting With Chinese President, Xi Jinping President Bola Tinubu says the relationship between Nigeria and China needs to be strengthened for trade advancement and economic development. Tinubu spoke on Tuesday during a meeting with Chinese President Xi Jinping in Beijing, the capital of China. The president said Nigeria-China ties have been elevated to a comprehensive strategic partnership. Tinubu said his administration is reforming the Nigerian economy, adding that he is “a reformer with verifiable antecedents”. The president said Nigeria “holds great potential as the country with the largest…