Economy

Jun
11
2025
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By Abia ThinkTank
Trapped In The Cracks: Abia’s Forgotten Families Amidst Progress – By Dr. Chukwuemeka Ifegwu Eke

Trapped In The Cracks: Abia’s Forgotten Families Amidst Progress – By Dr. Chukwuemeka Ifegwu Eke

Abia North, Columns/Opinions/Letters, Economy, Good Governance, Infrastructure
Trapped in the Cracks: Abia's Forgotten Families Amidst Progress The scent of roasted plantain mingles with diesel fumes on Udeagbala Road—a street reborn under the infrastructure blitz. For Madam Chioma, whose grill station now sits safely above storm drains, this is liberation. Yet three kilometers away in Ndiegoro Waterside, Elder Gideon Okoro wades through sewage to reach his single-room home. "They fixed the city’s face," he mutters, "but forgot its bowels." This stark duality defines Abia’s poverty landscape: visible progress for some, perpetual abandonment for others. The Anatomy of Abandonment: Neighborhood Case StudiesNdiegoro Waterside, Aba SouthConditions include open sewage channels,…
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Jun
11
2025
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By Abia ThinkTank
CBEX Resumes In Nigeria, Asks Investors To Deposit $200 To Recover Lost Investments

CBEX Resumes In Nigeria, Asks Investors To Deposit $200 To Recover Lost Investments

Business, Economy, News Flash
CBEX Resumes In Nigeria, Asks Investors To Deposit $200 To Recover Lost Investments A digital financial platform, Crypto Bridge Exchange, otherwise called CBEX, which is a Ponzi scheme, has resumed business across the country weeks after it suddenly halted operation and made away with hundreds of thousands of dollars belonging to unsuspecting Nigerians investors. Investors said they were asked to return to the scheme’s platform to claim their lost investments. “Someone asked me to log into CBEX account this morning that they have returned our balance,” one of the investors told the Peoples Gazette on Tuesday, sharing a screenshot of…
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Jun
09
2025
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By Abia ThinkTank
The Dollar, Yuan, And Naira: A Triangular Guide To Business, East Of The Niger – By Dr. Chukwuemeka Ifegwu Eke

The Dollar, Yuan, And Naira: A Triangular Guide To Business, East Of The Niger – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Economy, Good Governance
The Dollar, Yuan, and Naira: A Triangular Guide to Business, East of the Niger I. Currency Dynamics in Nigeria's Eastern CorridorThe Nigerian Naira (NGN) operates under extreme volatility, heavily influenced by oil prices where petroleum constitutes 40% of Nigeria's GDP. The U.S. Dollar (USD) dominates transactions while the Chinese Yuan (CNY) is critical for machinery, textiles, and electronics sourcing. Key challenges include NGN-USD Volatility where the Naira faces bearish pressure with critical levels at ₦1,562.50/USD (resistance) and ₦1,327.50/USD (support). Aba importers rely on unofficial channels with rates 20-40% higher than official quotes due to dollar scarcity. Direct CNY-NGN conversions remain…
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Jun
06
2025
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By Abia ThinkTank
Abia State’s Commercial Heritage: Historical Context And Economic Backdrop – By Dr. Chukwuemeka Ifegwu Eke

Abia State’s Commercial Heritage: Historical Context And Economic Backdrop – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Economy, Good Governance
Historical Context and Economic BackdropAbia State’s commercial heritage forms the bedrock for social entrepreneurship in Aba, Umuahia, and Abiriba. Aba, famously called the "Japan of Africa," built its reputation on indigenous manufacturing, especially in leatherworks and textiles from hubs like Ariaria Market. At its peak, shoemakers exported over two million shoes monthly across West Africa, generating ₦1 billion ($2.5M) annually. Umuahia evolved as an administrative center, while Abiriba nurtured a culture of commerce. Despite this potential, infrastructural neglect—exemplified by the derelict Port Harcourt Road in Aba—hampered growth for decades. Post-2018, social entrepreneurship surged nationally, with ~40% of Nigerian social enterprises…
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Jun
03
2025
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By Abia ThinkTank
Osun State Drags FGN To Supreme Court Over Withheld LGA Allocations

Osun State Drags FGN To Supreme Court Over Withheld LGA Allocations

CBN/Commercial Banking, Economy, FGN, News Flash, Politics
Osun State Drags FG To Supreme Court Over Withheld LG Allocations The lingering political crisis surrounding withheld Local Government allocations in Osun State has taken a new dimension as the State Government dragged the Nigerian Federal Government and the Attorney General of the Federation, Lateef Fagbemi, SAN to the country’s Supreme Court. The case centers on the alleged non-release of allocation from the Federation Account due to the 30 Local Government Areas and one area office of Osun State for the past 3 months. Since January 2025 the Federal Government and Osun State government have been at logger heads over…
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Jun
03
2025
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By Abia ThinkTank
If Nigeria Does Not Borrow, The Economy Will Collapse – Orji Uzor Kalu

If Nigeria Does Not Borrow, The Economy Will Collapse – Orji Uzor Kalu

Abia North, Economy, FGN, News Flash, Politics
If Nigeria Does Not Borrow, The Economy Will Collapse – Orji Kalu Orji Kalu, senator representing Abia north, says the Nigerian economy is at risk of collapse if the country does not continue to borrow. Kalu, a former governor of Abia state, spoke on Monday during an interview on Politics Today, a Channels Television programme. “Let me tell you, if this economy does not borrow, it collapse. That’s the truth. That’s where we are,” he said. Kalu said he is not a member of the committee that scrutinises loan requests but insisted that such borrowing is necessary for economic survival.…
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Jun
03
2025
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By Abia ThinkTank
CBEX: EFCC Chairman Assures Nigerians Of Fund Recovery

CBEX: EFCC Chairman Assures Nigerians Of Fund Recovery

Crime, Economy, FGN, News Flash
CBEX: EFCC Chairman Assures Nigerians Of Fund Recovery Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has assured the Commission is working tirelessly to recover funds lost to the Crypto Bridge Exchange trading platform (CBEX) investment scheme. In a video on the EFCC’s official X handle, on Monday, Olukoyede emphasised the agency’s commitment to securing justice for the victims. He also cautioned members of the public against falling prey to fraudulent investment platforms. The video was captioned: “On CBEX! The Eagle is working relentlessly to recover victims money, the Executive Chairman assures #OlaOlukoyede. “Going forward, do not…
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Jun
03
2025
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By Abia ThinkTank
NYSC Begins Payment Of 44k Arrears To Corps Members

NYSC Begins Payment Of 44k Arrears To Corps Members

Economy, Education, FGN, Youths
NYSC Begins Payment Of 44K Arrears To Corps Members The National Youth Service Corps has started paying arrears of the newly implemented monthly allowance to corps members. In a series of payments sighted by AttNews MEDIA correspondent, the scheme paid forty four thousand naira (44,000) to corps members after their 77,000 payment. In April, our correspondent reported that NYSC assured the corps members who recently completed their national service that they would be paid the arrears of the N77,000 allowance. Director-General of the NYSC, Brig Gen Olakunle Nafiu gave the assurance during the Batch A 2025 pre-mobilisation workshop for heads…
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Jun
02
2025
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By Abia ThinkTank
FGN Under Pressure To Suspend Allocations To Zamfara, Benue Over Non-functional State Assemblies

FGN Under Pressure To Suspend Allocations To Zamfara, Benue Over Non-functional State Assemblies

Economy, News Flash, Northern Nigeria, Politics
FG Under Pressure To Suspend Allocations To Zamfara, Benue Over Non-functional State Assemblies The Federal Government is reportedly under pressure to halt statutory allocations to Zamfara and Benue States until their Houses of Assembly are fully functional and constitutionally constituted. The pressure is said to be facilitated by the Coalition for Democratic Governance in Africa (CDGA). In a statement signed by its convener, Dr. Paul Barka, the group warned that allowing governors to operate without legislative oversight undermines democracy and encourages executive impunity. Citing recent federal action against Osun State over undemocratic local government practices, the CDGA urged the same…
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Jun
01
2025
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By Abia ThinkTank
Be Patient With Me – President Tinubu Begs Nigerians

Be Patient With Me – President Tinubu Begs Nigerians

Abia State, Economy, FGN, News Flash, Politics
Be Patient With Me – President Tinubu Begs Nigerians President Bola Tinubu has appealed to Nigerians to be patient with him. The president made the appeal at the inauguration of the completed Phase 1, Section 1 (30km by six lanes) of the 750km Lagos-Calabar Coastal Highway on Saturday. He said, “I know at this stage, your expectation is still very high and our people are still going through difficult times. I take this opportunity to appeal to all Nigerians that the hope is here and it is realisable. “You would be proud of the benefits, there is light at the…
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