Business - Abia ThinkTank News

Jul

05

2024

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By Abia ThinkTank

Frustrations As DisCos Further Jerk Up Tarriff For Band A Customers

Business, News Flash, Power & Energy

Lamentations As DisCos Further Jerk Up Tariff For Band A Customers Electricity Customers have expressed frustration following announcements by Distribution Companies on a further increase in the price of tariff for Band A customers. Trouble started after public notices obtained from some of the utility firms on Wednesday, revealed that the tariff has been increased from ₦206.80 to ₦209.50kW/h. The Eko Electricity Distribution Company (EKEDC) in a notice on its official X handle, @EKEDP seen by Channels Television, said the new tariff takes effect from July 1, 2024. “Dear Valued Customer, Kindly be informed that there has been an upward…

Jul

03

2024

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By Abia ThinkTank

State Of Emergency On Crude Oil Production By NNPC

Business, Economy, News Flash, Oil & Gas

NNPCL Declares State Of Emergency On Crude Oil Production .The Nigerian National Petroleum Company Limited (NNPCL) has declared a state of emergency on crude oil production. According to NNPCL, it is a move towards increasing Nigeria’s crude oil production and growing its reserves. This was contained in a statement by the Chief Corporate Communications Officer of NNPCL, Olufemi O. Soneye, on Tuesday, July 2. The statement reads: “In a move towards increasing Nigeria’s crude oil production and growing its reserves, NNPC Ltd has declared a state of emergency on production in Nigeria’s oil and gas industry. “Group Chief Executive Officer…

Jul

03

2024

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By Abia ThinkTank

Nigerian Rakes In Millions For Returning $14,000 Erroneously Credited To Him

Business, Economy, Gossips, News Flash

Nigerian Man Who Returns $14,000 Sent To Him As Giveaway Rakes In Million A Nigerian youth, Anjola Femi, who returned a sum of $14, 000 (over 21 million) mistakenly credited to his account by a foreign crypto trader has been gifted with financial rewards from the crypto community. As of the time of filing this report, Anjola has been rewarded with over N7.5 million by netizens who were thrilled by his gesture of returning the $14k mistakenly credited to his account. The excited chemical engineering graduate flaunted his crypto wallet, on Tuesday, showing the influx of credit alerts into his…

Jun

30

2024

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By Abia ThinkTank

PZ Cussons Reports N96.4 Billion Net Loss, Shareholders Funds Wiped Out

Business, Economy, News Flash

Shareholders Funds Wiped Out As PZ Cussons Reports N96.4 Billion Net Loss Consumer goods company PZ Cussons has reported a net loss of N96.4 billion for the fiscal year ending May 31, 2024. According to its latest unaudited financial statements, the losses resulted in the company posting a negative equity of N47.2 billion by the end of the fiscal year. PZ Cussons has been grappling with significant macroeconomic challenges that adversely affect its profit margins. Among the key issues cited are high interest rates, exchange rate depreciation, and escalating inflation. These factors have combined to create a tough operating environment…

Jun

29

2024

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By Abia ThinkTank

NNPC Unveils Business Opportunities For Youth Corps Members

Business, Empowerment, News Flash

NNPC Unveils Business Opportunities For Youth Corps Members A total of 2,659 members of the National Youth Service Corps across Nigeria have been pre-qualified for the final phase of the NNPC Foundation Business Pitching Exercise. According to a statement issued by the Chief Corporate Communications Officer NNPC Ltd, Olufemi Soneye, billed to hold from July 2 to 10, 2024, the exercise is an integral part of the NNPC Foundation’s Financial Literacy programme for Nigerian youths that witnessed the engagement of over 284,000 corps members, who underwent rigorous training and assessments. Speaking on the exercise, the Managing Director of the NNPC…

Jun

29

2024

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By Abia ThinkTank

Facebook Approves Nigeria As Eligible For Content Monetization

Business, Columns/Opinions/Letters, Foreign Affairs, News Flash

Facebook Approves Nigeria As Eligible For Content Monetisation AttNews reports that Facebook has approved Nigeria for content monetisation. There are many ways to earn money from Facebook, but some people don’t know how to check and see if they have qualified for monetisation. These are the simple steps to take if one wants to know if they are qualified to monetise their content on Facebook. Log into your Facebook page or professional profile The first step is to head to Facebook and log into your professional profile or page whichever one you are posting content on. You must be an…

Jun

28

2024

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By Abia ThinkTank

Crypto Is Like Air, Nigerian Government Can’t Cage It – SEC

Business, Economy, News Flash

Crypto Is Like Air, Nigerian Govt Can’t Cage It – SEC The Securities and Exchange Commission (SEC) says it controls and regulates cryptocurrencies and other digital assets but admits it is impossible to “cage” it, describing it as “air.” SEC director-general Emomotimi Agama said this at the first Annual Conference of the Association of Capital Market Academics of Nigeria (ACMAN) on Thursday in Abuja. Mr Agama described crypto assets as digital or virtual assets utilised by cryptography for security. He said over 15,000 cryptocurrencies were created, with Bitcoin being the most popular. The director-general said the regulatory landscape for cryptocurrency…

Jun

27

2024

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By Abia ThinkTank

‘No Cause For Alarm’ – Dangote Refinery Reacts To Fire Outbreak

Business, Economy, Mishap, News Flash, Oil & Gas

‘No Cause For Alarm’ – Dangote Refinery Reacts To Fire Outbreak A “minor fire” incident was recorded at the effluent treatment plant of the Dangote Refinery in Lagos on Wednesday. The fire was immediately put out as fire fighters and first responders swiftly rose to the occasion. In a statement, a spokesman for the company, Anthony Chiejina, said operations at the refinery was not affected in anyway. “There is no cause for alarm as the refinery is operating and there is no recorded injury or body harm to all our staff on duty,” he said. The $20bn facility sited in…

Jun

25

2024

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By Abia ThinkTank

Tinubu Appoints New Consumer Protection Commission CEO

Economy, Business, FGN, News Flash, Presidency

Tinubu Appoints New Consumer Protection Commission CEO President Bola Tinubu has approved the appointment of Mr. Olatunji Bello as the new Chief Executive Officer/Executive Vice-Chairman of the Federal Competition and Consumer Protection Commission (FCCPC). Ajuri Ngelale, Special Adviser to the President on Media and Publicity, in a statement disclosed that the appointment is subject to confirmation by the Senate. Mr. Bello is a lawyer, administrator, and renowned journalist. He is the former secretary to the Lagos State Government and holds a Master’s degree in International Law and Diplomacy from the University of Lagos. He also studied Law at the same…

Jun

12

2024

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By Abia ThinkTank

Dangote Refinery Reveals New Date To Kickstart Petrol Supply

Business, Economy, News Flash, Oil & Gas

Dangote Refinery Reveals New Date To Kickstart Petrol Supply Dangote Petroleum Refinery and Petrochemicals in Lagos State has moved the supply date for Premium Motor Spirit (PMS) popularly known as petrol from June to mid-July. The President and Chief Executive Officer of the refinery, Aliko Dangote, attributed the postponement to slight delay but assured the public that by second to third week in July, the premium commodity would be in the market. Dangote spoke when he received a Senate delegation led by Senate President Godswill Akpabio, on a tour of the $20 billion facility in Lagos on Sunday. He said,…