Economy - Abia ThinkTank News

Jul

25

2024

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By Abia ThinkTank

Governors Hold Marathon Meeting As Local Government Tops Agenda

Economy, LGA, News Flash

Governors Hold Marathon Meeting As Local Govt Autonomy Tops Agenda The thirty- six state Governors under the aegis of Nigeria Governors Forum, NGF have commenced a meeting in Abuja, with Local Government Autonomy toping the agenda. The governors started arriving for the meeting at 9pm at the National Secretariat of the forum, Maitama, Abuja. According to the agenda which was sighted, the issue of Local Government Autonomy is coming under Matters Arising and briefing by the Chairman of the forum and Kwara State Governor, Abdulrahman Abdulrazaq who will brief the governors on the matter. Recall that the Supreme Court had…

Jul

25

2024

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By Abia ThinkTank

NG-CARES: FGN Releases Over N438 Billion To 34 States, FCT

Economy, FGN, News Flash

NG-CARES: FG Releases Over N438 Billion To 34 States, FCT The Federal Government has released over N438 billion in reimbursement to 34 states and the Federal Capital Territory, under the Nigeria Community Action for Resilience and Economic Stimulus programme. The Information and Communication Officer of the Federal CARES Support Unit, Suleiman Odapu, stated this in a statement on Tuesday in Abuja. Odapu quoted the National Coordinator of NG-CARES Programme, Dr Abdulkarim Obaje, as saying this, explaining that the funds were disbursed based on the results achieved by the states and FCT during the third Independent Verification Agency assessment carried out…

Jul

25

2024

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By Abia ThinkTank

FGN Announces Month To Commence New Minimum Wage Payment

Economy, FGN, Labour, News Flash

FG Announces Month To Commence New Minimum Wage Payment AttNews reports that the presidency has confirmed that the new national minimum wage is expected to take effect in April 2024. The Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, who confirmed this in a post via X on Tuesday, added that workers will be paid arrears of their increase from this period. Olusegun gave the update while confirming that President Bola Tinubu has written to the National Assembly, seeking their approval for the new National Minimum Wage bill. “President Bola Tinubu has written to the House of…

Jul

24

2024

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By Abia ThinkTank

Accept Hardship As A Trial From God – APC Governor Tells Nigerians Amidst Planned Nationwide Protest

Columns/Opinions/Letters, Economy, News Flash, Politics

Accept Hardship As A Trial From God – APC Governor Tells Nigerians Amidst Planned Nationwide Protest Governor Umar Namadi of Jigawa State has advised Nigerians to consider the current economic hardship as a test from God, rather than resorting to protests. The governor, who is a member of the All Progressives Congress (APC), made this statement on Monday during a town hall meeting with 27 groups in Dutse. The meeting, which included representatives from the Nigeria Labour Congress (NLC), Christian Association of Nigeria (CAN), and the National Association of Nigerian Students (NANS), saw the groups disassociate themselves from the planned…

Jul

24

2024

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By Abia ThinkTank

CBN Raises Rate By 50 Basis Points To 26.75%

CBN/Commercial Banking, Economy, News Flash

CBN Raises Rate By 50 Basis Points To 26.75% .The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate by 50 basis points from 26.25 per cent to 26.75 per cent. The Governor of the bank, Mr. Olayemi Cardoso disclosed this at an ongoing press conference to announce the outcome of the just concluded Monetary Policy Committee meeting in Abuja. The bank set a new Asymmetric Corridor of +500/-100 from +100/-300 around the MPR; a Cash Reserve Ratio of 45 per cent for Deposit Money Banks and 14 per cent for Merchant Banks, while Liquidity Ratio was left…

Jul

24

2024

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By Abia ThinkTank

President Of Gabon Invites Dangote To Invest In Cement, Fertilizer Production

Business, Economy, News Flash, World News

Gabon President Invites Dangote To Invest In Cement, Fertiliser Production The Chairman Dangote Industries Limited, Aliko Dangote has been invited by President Brice Oligui Nguema of Gabon to invest in cement and fertiliser production in the country, media office of Dangote Group said on Tuesday. The richest Africa man was invited to explore investment opportunities in cement and fertiliser (urea and phosphate). Parts of the statement read: “President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon. “The President urged…

Jul

24

2024

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By Abia ThinkTank

Food Insecurity: Rt Hon. Benjamin Kalu Inaugurates Committee As National Assembly Moves To Provide Sucure For Nigerians

Agriculture, Business, Economy, National Assembly, News Flash

𝐅𝐨𝐨𝐝 𝐈𝐧𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲: 𝐑𝐭 𝐇𝐨𝐧 𝐁𝐞𝐧𝐣𝐚𝐦𝐢𝐧 𝐊𝐚𝐥𝐮 𝐈𝐧𝐚𝐮𝐠𝐮𝐫𝐚𝐭𝐞𝐬 𝐂𝐨𝐦𝐦𝐢𝐭𝐭𝐞𝐞, As National Assembly Moves To Provide Sucure For Nigerians Food insecurity is a pressing issue that affects millions of people around the world, including in Nigeria. In an effort to address this challenge and prioritize agriculture, the deputy speaker of the House of Representatives, Rt Hon Benjamin Okezie Kalu, recently inaugurated the National Legislative Network on Nutrition and Food Security in Abuja. This committee has been tasked with the responsibility of initiating strategic legislative processes and actions to tackle food and nutritional challenges in the country. During the inauguration ceremony, Rt Hon…

Jul

23

2024

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By Abia ThinkTank

EFCC Arrests 10 Suspected Illegal Miners In Oyo

Crime, Economy, News Flash, Security

EFCC Arrests 10 Suspected Illegal Miners In Oyo (See Names) Operatives of the Economic and Financial Crimes Commission on Monday arrested ten suspected illegal miners in Ogbomoso, Oyo State. The suspects are Yunusa Adisa, Ganiyu Kazeem, Muideen Babayemi, Sulaiman Usman, Adeleke Waliu, Tiamiyu Rokeeb, Olusola Sunday, Oyedokun Oluwagbemiga, Sulaimon Ishiaq, and Olufimihan Eniola. A statement on Monday by the EFCC’s spokesperson, Dele Oyewale, said the suspects were arrested with six trucks fully loaded with lithium. He added that the suspects would be arraigned in court after an investigation into the matter. Oyewale said, “Operatives of the Ibadan Zonal Directorate of…

Jul

23

2024

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By Abia ThinkTank

Abort Planned Protest, We’ve Everything In Place To Alleviate Hardship – FGN Tells Nigerians

Economy, FGN, News Flash, Politics

Abort Planned Protest, We’ve Everything In Place To Alleviate Hardships – FG Tells Nigerians President Bola Tinubu has called on Nigerians to abort their planned protests, as everything is in place to alleviate hardships. Speaking at a National Council of Traditional Rulers meeting in Abuja on Monday, 22nd July, 2024, Tinubu, represented by Secretary to the Government of the Federation George Akume, emphasised the need for patience and support during this critical period. Tinubu criticised individuals capitalizing on the nation’s economic difficulties to incite protests. He stressed that, rather than engaging in demonstrations, Nigerians should show patience and commitment to…

Jul

23

2024

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By Abia ThinkTank

Oil Minister Lokpobiri Meets Dangote, NNPCL, NMDPRA, NUPRC Chiefs To Resolve Oil & Gas Issues

Economy, FGN, News Flash, Oil & Gas

Oil Minister Lokpobiri Meets Dangote, NNPCL, NMDPRA, NUPRC Chiefs To Resolve Issues Nigeria’s Oil minister Heineken Lokpobiri has met with Aliko Dangote and chiefs of NNPC Limited, NMDPRA and NUPRC to resolve the issues stirred by Dangote Refinery. Lokpobiri, in a statement on his X handle on Monday said he convened a high-level meeting with top executives from Dangote Group, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Corporation Limited (NNPC) to address the ongoing issues surrounding the Dangote Refinery. Lokpobiri, who is the Minister of State…