Economy

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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May
30
2025
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By Abia ThinkTank
2-Year-Anniversary: ATTNEWS Felicitates With His Excellency, Dr. Alex Chioma Otti OFR, Executive Governor Of ABIA State And His Deputy Engr Ikechukwu Emetu FNSE

2-Year-Anniversary: ATTNEWS Felicitates With His Excellency, Dr. Alex Chioma Otti OFR, Executive Governor Of ABIA State And His Deputy Engr Ikechukwu Emetu FNSE

Abia State, Columns/Opinions/Letters, Economy, Good Governance, People & Events
Felicitation MessageHis Excellency, Dr. Alex Chioma Otti, OFRExecutive Governor of Abia State On this momentous occasion commemorating the biennium of your distinguished gubernatorial tenure, inaugurated on the 29th day of May 2023, we unite with Abia State's citizenry and the Nigerian populace in tendering our most profound felicitations for this consequential milestone. Your visionary stewardship has catalyzed transformative advancements across the state, evincing an unwavering dedication to civic welfare and developmental excellence through meticulously orchestrated initiatives and infrastructural enterprises. We extol your indefatigable commitment to institutionalizing accountable governance, stimulating sustainable economic revitalization, and enshrining principles of equitable justice. Your strategic…
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May
30
2025
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By Abia ThinkTank
The New ABIA At Two: Sustaining The Momentum – Being Governor Otti’s Second Anniversary Speech On May 29, 2025

The New ABIA At Two: Sustaining The Momentum – Being Governor Otti’s Second Anniversary Speech On May 29, 2025

Abia State, Economy, Good Governance, News Flash
THE NEW ABIA AT TWO: SUSTAINING THE MOMENTUM Being the Text of a Speech Delivered by Gov. Alex C. Otti, OFR, on May 29, 2025 to Mark the Second Anniversary of the Government Protocols Today is a special day in the annals of our history and I share in the joy of millions of Abians at home and in the diaspora whose sacrifices and resilient push for a better social and economic deal for the State took down the old stronghold that arrested our development for decades and ushered in a new dawn of hope and progress. For our people,…
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