Business - Abia ThinkTank News

Aug

2024

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

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Fucheng Industrial Investment Co. Limited,, a Chinese company whose export processing zone management contract was revoked by the Ogun state government…

Aug

2024

0 Comments

By Abia ThinkTank

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…

Aug

2024

0 Comments

By Abia ThinkTank

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…

Aug

2024

0 Comments

By Abia ThinkTank

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.…

Aug

2024

0 Comments

By Abia ThinkTank

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…

Jul

2024

0 Comments

By Abia ThinkTank

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…

Jul

2024

0 Comments

By Abia ThinkTank

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…

Jul

2024

0 Comments

By Abia ThinkTank

President Tinubu Orders NNPC To Sell Crude Oil To Dangote Refinery In Naira

Business, Economy, News Flash, Oil & Gas

President Tinubu Orders NNPC To Sell Crude Oil To Dangote Refinery In Naira. The President of the Federal Republic Of Nigeria Senator Ahmed Bola Tinubu has directed Nigerian National Petroleum Company Limited to sell crude oil to Dangote Refinery in Naira. The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known in a post via his official X handle on Monday.

Jul

2024

0 Comments

By Abia ThinkTank

Amidst Planned Protest, FGN Opens N110 Billion Portal For Nigeria Youth Investment Fund

Business, Economy, FGN, News Flash

Amidst Planned Protest, FG Opens N110 Billion Portal For Nigeria Youth Investment Fund See How To Apply Federal Government of Nigeria has opened portal for Nigerian Youth Investment Fund, GISTSMATE MEDIA is reporting. In the application link sighted and checked by our correspondent, NYIF 2024 application is now active and can be accessed via https://www.fmyd.gov.ng/nyif_application Recall that the Minister of Youth Development, Dr. Jamila Bio Ibrahim, earlier announced that the portal for the restructured Youth Investment Fund of N110 billion will be accessible in the coming days. The Minister made this announcement during a courtesy visit by the Middle Belt…

Jul

2024

0 Comments

By Abia ThinkTank

China President Xi Jiping Invites President Tinubu For Bilateral Relationship

Business, FGN, Foreign Affairs, News Flash

China President Xi Jiping Invites President Bola Tinubu For Bilateral Relationship Chinese leader President Xi Jinping has invited President Bola Tinubu to pay a state visit to China in September. China’s Vice Minister of Foreign Affairs, Chen Xiaodong delivered the invitation to Tinubu at the Aso Villa on Thursday. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a statement issued via his official X handle on Friday. According to the statement, Tinubu has accepted the invitation and hoped that it would strengthen Nigeria-China bilateral relations and the proposed currency swap agreement. The…