Business

Sep
16
2024
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By Abia ThinkTank
EFCC Arrests Five Chinese Nationals For Alleged Illegal Mining Activities

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…
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Sep
16
2024
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By Abia ThinkTank
NNPC Announces New Petrol Price Across 36 States And Abuja

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…
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Sep
16
2024
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By Abia ThinkTank
It’s Very Misleading – Dangote Refinery Speaks On Selling Petrol At N898 Per Litre

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:…
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Sep
14
2024
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By Abia ThinkTank
Abia State Gov. Alex Otti Urges Traders To Relocate To ABIA, Assures Them Of Adequate Security And Business Friendly Atmospheres

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…
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Sep
12
2024
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By Abia ThinkTank
Emetu Charges Local Government Heads Of Service And Financial Management Officers To Follow Due Process In The Management Of Funds

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…
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Sep
09
2024
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By Abia ThinkTank
Benue Government Seals Ortom’s Oracle Business Over Tax Default

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…
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Sep
08
2024
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By Abia ThinkTank
Dangote Refinery May Dump Nigeria Market, Export Petrol Over NNPC’s Conditions

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,…
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Sep
04
2024
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By Abia ThinkTank
Tinubu Signs 5 MoUs At Meeting With Chinese President, Xi Jinping – Says ‘I’m A Reformer With Verifiable Antecedents’

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…
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Sep
03
2024
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By Abia ThinkTank
Special Day For Nigeria As Dangote Officially Confirms Petrol Rollout

Special Day For Nigeria As Dangote Officially Confirms Petrol Rollout

Business, Economy, News Flash
Special Day For Nigeria As Dangote Officially Confirms Petrol Rollout Aliko Dangote, the Chairman of Dangote group, has officially confirmed rollout Premium Motor Spirit (PMS), also known as petrol from its refinery. Dangote, while addressing the press on Tuesday, described the development as a turnaround for the country after many years of not producing a single litre of petrol. The group chairman, while thanking Nigerians for their support, also lauded the President, Bola Ahmed Tinubu , for creating an enabling environment for the 650,000 barrels per day refinery. He said, “Today is a very special day because Nigeria has not…
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Sep
01
2024
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By Abia ThinkTank
Belema Oil Unveils It’s New CEO, CFO As Jack-Rich Focuses On Developing Fintech…

Belema Oil Unveils It’s New CEO, CFO As Jack-Rich Focuses On Developing Fintech…

Business, News Flash, Oil & Gas
BELEMAOIL UNVEILS ITS NEW CEO, CFO as Jack-Rich focuses on developing Fintech to promote financial inclusion for massive economic boom. The Founder and President of Belemaoil Producing Limited Tein T.S. Jack-Rich says the company is on a threshold of rapid recovery, transformational growth, and industrial boom to realize its shared vision and deliver superior value to shareholders. Jack-Rich stated this at a meeting of the Board of Directors and Management Staff of Belemaoil to formally unveil the company’s new Managing Director/Chief Executive Officer, Ahmadu Sambo as well as its new Chief Finance Officer, Emmanuel Onos. He said the two appointees…
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