Economy - Abia ThinkTank News

Aug

25

2026

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By Abia ThinkTank

Drama As Sowore, Amaechi, Obi Clash Over Fuel Subsidy At NBA Conference In Portharcourt

News Flash, Economy, Politics

Drama As Sowore, Amaechi, Obi Clash Over Fuel Subsidy At NBA Conference In Port Harcourt The annual conference of the Nigerian Bar Association (NBA) in Port Harcourt, Rivers, turned into a fiery political battleground as presidential candidate of the African Action Congress (AAC), Omoyele Sowore; Vice Presidential candidate of the African Democratic Congress (ADC), Rotimi Amaechi, and the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi engaged in a heated debate over fuel subsidy and national governance. The drama unfolded during a panel session on state affairs and economic policy, where Sowore launched a direct attack on mainstream politicians, accusing…

Aug

10

2026

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By Abia ThinkTank

NNPCL REMITTANCE CLAIMS: WHEN BIG NUMBERS BECOME BIG DECEPTION- By Pastor Prof Chukwuemeka Ifegwu Eke

Columns/Opinions/Letters, Economy, Oil & Gas

NNPCL REMITTANCE CLAIMS: WHEN BIG NUMBERS BECOME BIG DECEPTION The recent claim that NNPCL remitted about $15.33 billion to the Federation under President Bola Tinubu in roughly three years, compared with only about $13 billion allegedly remitted between 1999 and 2023, deserves far more scrutiny than the celebratory graphics circulating on social media suggest. The issue is not merely whether the figures quoted are numerically correct. The deeper question is whether the figures are conceptually comparable, historically consistent and economically meaningful. Once those questions are asked, the apparent simplicity of the claim begins to collapse. THE $13 BILLION HISTORICAL CLAIM…

Aug

10

2026

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By Abia ThinkTank

Nigeria’s 148% FDI Jump Is Not Yet Development: FG Should Stop Celebrating Headlines, Roll Up Its Sleeves And Get To Work – By Pastor Prof Chukwuemeka Ifegwu Eke

FGN, Columns/Opinions/Letters, Economy, Foreign Affairs

Nigeria’s 148% FDI Jump Is Not Yet Development: FG Should Stop Celebrating Headlines, Roll Up Its Sleeves and Get to Work Nigeria’s reported 148 per cent increase in Foreign Direct Investment, from approximately $1.61 billion in 2024 to $4.01 billion in 2025, is undoubtedly a positive development. At a time when total FDI inflows into Africa reportedly declined by about 26 per cent, Nigeria’s ability to attract significantly more foreign capital deserves acknowledgement. It suggests that some degree of international investor confidence may be returning following reforms in the foreign exchange market, fiscal administration, petroleum sector and broader macroeconomic environment.…

Aug

08

2026

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By Abia ThinkTank

Governor Otti Receives The Aba Commercial Smart City Team; Conclude Arrangements For Seamless Flag-Off

Abia State, Economy, Good Governance, News Flash

GOV. OTTI COMMITTED TO IMMEDIATE FLAG-OFF, DELIVERY OF ABA COMMERCIAL SMART CITY. Abia State Governor, His Excellency, Dr. Alex Otti, OFR, has expressed interest in the immediate flag-off and delivery of the proposed Aba Commercial Smart City. Governor Otti stated this on Friday, August 7, 2026, at Government House, Umuahia, during a business meeting with the leadership of the Aba Commercial Smart City project. Gov. Otti charged the project partners to fast-track their plans to achieve the project as discussed. He directed the DG/CEO of the Public Private Partnership and Investment Promotion Office, Mr. Chinedu Chijioke, to handle the details…

Jul

29

2026

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By Abia ThinkTank

FGN Overshoots Borrowing Limit As New Debt Reaches N12.62 Trillion

FGN, Economy, News Flash

FG Overshoots Borrowing Limit As New Debt Reaches N12.62 Trillion The Federal Government exceeded its 2024 borrowing target by N4.79 trillion after a wider-than-projected budget deficit forced it to raise significantly more financing than originally planned, the Budget Office of the Federation has disclosed. According to the latest Fourth Quarter and Consolidated Budget Implementation Report for 2024, the Federal Government’s new borrowings rose to N12.62tn, exceeding the budgeted N7.83tn by N4.79tn, or 61.2 per cent. The higher borrowing requirement followed a substantial revenue shortfall, which pushed the fiscal deficit to N13.51tn, well above the approved deficit of N9.18tn. The report…

Jul

23

2026

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By Abia ThinkTank

Dangote Refinery Resumes Naira Sales, Sets New Petrol Price

Economy, News Flash, Oil & Gas

Dangote Refinery Resumes Naira Sales, Sets New Petrol Price Dangote Petroleum Refinery has resumed gantry loading in Naira, ditching its earlier decision to sell petrol in dollars. According to Naija News, the refinery also announced a new price for petrol, setting it at ₦1,215 per litre, an increase of ₦140 from the previous price of ₦1,075 per litre. It will be recalled that Dangote Petroleum Refinery had pegged the ex-depot price of Premium Motor Spirit (PMS), better known as petrol or fuel, at $0.779 per litre, officially commencing dollar-denominated sales of refined petroleum products and ending the naira pricing regime…

Jul

15

2026

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CBN Owing FGN N5.3 Trillion Unremitted Operating Surplus, Refused To Pay – OAGF

CBN/Commercial Banking, Economy, FGN

CBN Owing FG N5.3 Trillion Unremitted Operating Surplus, Refused To Pay – OAGF The Office of the Accountant General of the Federation (OAGF) has told the House of Representatives Committee on Public Accounts that the Central Bank of Nigeria was indebted to the government by N5.3 trillion, representing unremitted revenue from its operating surplus. Director, Revenue and Investment, in the OAGF, Makinde Mogaji disclosed this while responding to questions from members of the committee when the Accountant General of the Federation, Shamsedeen Babatunde Ogunjimi, appeared before the Committee to defend audit queries from the office of the Auditor General for…

Jul

09

2026

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Governor Otti’s Industrial Renaissance. How Enyimba Factories Revival Signals Abia’s Return To Production Economy – By Ebere Uzoukwa Ph.D (SSA To Governor Otti On Public Affairs)

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

Governor Otti’s Industrial Renaissance: How Enyimba Factories Revival Signals Abia’s Return to Production Economy By Ebere Uzoukwa, PhD For many decades, Aba occupied a unique position in Nigeria’s economic landscape. Known as the commercial nerve centre of the South East, the city represented the ingenuity, resilience and entrepreneurial strength of the Igbo business spirit. From leather works and footwear production to textiles, fabrication and small scale manufacturing, Aba built a reputation as a city where creativity translated into economic value. The city’s industrial identity was not built overnight. It was nurtured by generations of artisans, manufacturers, traders and entrepreneurs who…

Jul

05

2026

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No Evidence We Spent N8 Trillion Outside Approved Budget – FG

FGN, Economy, News Flash

No Evidence We Spent N8 Trillion Outside Approved Budget – FG The Federal Government has dismissed claims that it spent more than ₦8 trillion outside the approved national budget, describing the allegation as false and a misrepresentation of the International Monetary Fund’s (IMF) 2026 Article IV Consultation Report. The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, said the Federal Government does not operate a “shadow budget” and has not spent public funds outside the constitutional and legal framework governing public finance in Nigeria. “The Federal Government does not operate a ‘shadow budget’ or expend public…

Jul

05

2026

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By Abia ThinkTank

NNPCL Reduces Petrol Price For Second Time In Less Than Two Weeks

Economy, News Flash, Oil & Gas

NNPCL Reduces Petrol Price For Second Time In Less Than Two Weeks The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price for the second time in less than two weeks. A market survey on Sunday showed that the state-owned filling station has adjusted its petrol price to N1,150 per litre down from N1,210. The latest reduction means that NNPCL brought down its fuel price by N60. Between June 27 and July 5, 2026, NNPCL has dropped fuel prices by N110. NNPCL’s latest petrol price reduction comes barely three days after Dangote Refinery announced its fourth…