Business - Abia ThinkTank News

Feb

02

2025

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The Final Frontier Of Finance: How Cryptocurrency Is Revolutionizing Space Trade – By Chukwuemeka Ifegwu Eke

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

The Final Frontier of Finance: How Cryptocurrency is Revolutionizing Space Trade Cryptocurrency has been gaining traction in recent years, and its potential applications extend far beyond Earth's borders. One exciting prospect is the enablement of interplanetary trade. As space exploration and colonization become increasingly feasible, the need for a reliable and efficient medium of exchange will arise. Cryptocurrency, with its decentralized and digital nature, is well-positioned to fill this need. The concept of interplanetary trade may seem like science fiction, but it's an idea that's being taken seriously by space agencies and private companies. NASA, for example, has already begun…

Feb

01

2025

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Dangote Refinery Crashes Petrol Price

FGN, Business, Good Governance

Dangote Refinery Crashes Petrol Price Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday. In a statement, the company said the price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude oil prices. “Dangote Refinery’s decision reflects its commitment to aligning with market realities and ensuring that consumers benefit from changes in international crude oil prices.” In the statement issued by the Group Chief Branding and Communications Officer, Anthony Chiejina, the company explained that this…

Jan

23

2025

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4 Nigerian Billionaires’ Wealth Hits $23.7 Billion, As Over 133 Million People Face Hunger

Business, Columns/Opinions/Letters, News Flash

4 Nigerian Billionaires’ Wealth Hits $23.7 Billion, As Over 133 Million People Face Hunger A report published by Oxfam ‘Takers Not Makers’, yesterday, revealed that four Nigerian billionaires’ wealth hit $23.7 billion, as over 133 million people face hunger. The report also indicated that the wealth of these four billionaires could easily cover the whole of Lagos city in N500 notes. According to the report, Nigeria’s wealth gap has reached crisis levels, with the richest individuals accumulating unprecedented wealth while the poor struggle to survive. “In 2024, billionaire wealth surged, and this trend is expected to continue, with at least…

Jan

21

2025

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FG Approves Licence For 10,000 Barrels Per Day Refinery In Delta State

Business, FGN, News Flash, Oil & Gas

FG Approves Licence For 10,000 Barrels Per Day Refinery In Delta State The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has announced the approval of a licence for the construction of a new refinery. The approval was given to MRO Energy Limited, an energy company for the construction of a 10,000 Barrels Per Stream Day Refinery at Imode In Ughelli, Delta State, This development comes two months after the authority granted a license to Process Design and Development Limited to establish and construct a new 27,000 barrels per day refinery located in Dole-Wure, Akko area of…

Jan

21

2025

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Abia’s Nollywood Dreams: How The State Is Positioning Itself As The Next Big Thing In Nigeria Cinema – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Entertainment, Good Governance

Abia's Nollywood Dream: How the State is Positioning itself as the Next Big Thing in Nigerian Cinema We can all see the flurry of activities: programs, projects and engagements by the state government to reposition our dear state. It's a testament to Dr Alex Chioma Otti OFRs master strategy Dear Abians, our governor is mounting another ferocious campaign quietly to position Abia State as a destination of choice for Nigeria's cinema industry. Can we support him? Nigeria's film industry, popularly known as Nollywood, has experienced tremendous growth over the years, emerging as one of the largest film industries in the…

Jan

20

2025

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Dangote Partners 3 Petrol Stations, Announces New Price Nationwide

Economy, Business, News Flash, Oil & Gas

Dangote Partners 3 Petrol Stations, Announces New Price Nationwide Dangote Refinery has assured Nigerians that three of its partners will sell petrol for ₦970 per litre nationwide despite the company’s recent increase in the ex-depot price of petrol. A spokesman for the refinery Anthony Chiejina said the recent adjustment in the company’s ex-depot price “is directly related to the significant increase in global crude oil prices”. In a statement on Sunday, Chiejina said, “While we have made a 5% adjustment to our ex-depot price from N899.50 to N950 per litre, it is important to note that this increase is considerably…

Jan

15

2025

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Saving, Investing, And Thriving: Aba’s Entrepreneurs Share Their Stories – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters

Saving, Investing, and Thriving: Aba's Entrepreneurs Share Their Stories Aba, a city in Abia State, Nigeria, is renowned for its entrepreneurial spirit. Despite the economic uncertainty, Aba's entrepreneurs have developed super saving and wealth building strategies to stay ahead. According to a survey conducted by the Aba Chamber of Commerce, 75% of entrepreneurs in Aba have developed unique saving strategies to navigate uncertain times. This statistic underscores the resilience and adaptability of Aba's entrepreneurs. One of the key strategies employed by Aba's entrepreneurs is thriftiness. They prioritize saving over spending, allocating a significant portion of their income to savings. A…

Jan

10

2025

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Resilience In Adversity: Lessons From ABA Businesses On Sustainable Entrepreneurship – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Good Governance

Resilience in Adversity: Lessons from Aba Businesses on Sustainable Entrepreneurship Aba, a city in Abia State, Nigeria, is renowned for its vibrant business community, particularly in the manufacturing and trading sectors. Despite facing numerous challenges, including infrastructure deficits, limited access to finance, and regulatory hurdles, Aba businesses have consistently demonstrated remarkable resilience and adaptability. This article explores the strategies employed by Aba businesses to remain sustainable in the face of adversity, offering valuable lessons for entrepreneurs and policymakers worldwide. This article is a product of one of the business luncheons organized by Governor Otti to press home his appeal for…

Jan

09

2025

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China Approves $254 Million Loan For President Tinubu Government’s Kano-Kaduna Railway Project

Business, CBN/Commercial Banking, FGN, Infrastructure, News Flash

China Approves $254 Million Loan For President Tinubu Government’s Kano-Kaduna Railway Project The China Development Bank (CDB) has approved a $254.76 million loan to support the construction of the Kano-Kaduna railway project in Nigeria by the President Bola Tinubu-led government. In a statement released on Tuesday, the bank said the funding would facilitate the smooth implementation of the infrastructure project. The construction is being handled by the China Civil Engineering Construction Corporation (CCECC) with financial backing from the CDB. “The Kano-Kaduna railway spans a total of 203 kilometers and is designed as a standard-gauge railway,” the statement noted. “Upon completion,…

Jan

09

2025

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Gov. Otti Assures Nigerian Geological Survey Agency Of Synergy To Improve Abia’s Local Industry

Abia State, Business, Good Governance, News Flash

GOV OTTI ASSURES NIGERIAN GEOLOGICAL SURVEY AGENCY OF SYNERGY TO IMPROVE ABIA'S LOCAL INDUSTRY The Governor of Abia State, Dr. Alex Chioma Otti, OFR, earlier today, received the Director, Nigerian Geological Survey Agency, Mr. Isaac Mba Okorie and his team, who paid a courtesy call on him. The team is on an official assignment to the State to explore the mineral resources of the state with a special concentration on kaoline. Represented by the Deputy Governor, Engr. Ikechukwu Lekwachi Emetu, FNSE, Otti noted that the profiling of kaolin in different areas of the state will contribute to the economic development…