Economy - Abia ThinkTank News

Feb

2026

CBN Approves BDCs’ Return To Forex Market, Allows Purchase Of Up To $150,000 Weekly

CBN Approves BDCs’ Return To Forex Market, Allows Purchase Of Up To $150,000 Weekly The Central Bank of Nigeria (CBN) has authorised licensed Bureau De Change (BDC) operators to resume participation in the Nigerian Foreign Exchange Market (NFEM), in a move aimed at improving liquidity and enhancing access to foreign exchange in the retail segment. The approval was contained in a circular signed by the Director of the Trade and Exchange Department, Dr Musa Nakorji. The circular stated that each licensed BDC is permitted to purchase up to $150,000 weekly, subject to compliance with existing operational guidelines. Under the new…

Feb

2026

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By Abia ThinkTank

Port Harcourt Refinery Ready To Resume Operations- PENGASSAN

Business, Economy, News Flash, Oil & Gas

Port Harcourt Refinery Ready To Resume Operations — PENGASSAN The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said the old Port Harcourt Refinery has been rehabilitated to about 90 per cent and could resume operations within one week if the Nigerian National Petroleum Company Limited (NNPC Ltd) approves its restart. The PENGASSAN President, Mr Festus Osifo, disclosed this on Tuesday while speaking on Channels Television’s The Morning Brief. His remarks come amid renewed debate over the future of Nigeria’s state-owned refineries, following comments by NNPC Ltd’s Group Chief Executive Officer, Bayo Ojulari, who described the reopening…

Feb

2026

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By Abia ThinkTank

2,000 Stranded Trucks Roll Out As Nigeria Reopens Benin, Niger Boarders

Business, Economy, News Flash

2,000 Stranded Trucks Roll Out As Nigeria Reopens Benin, Niger Borders No fewer than 2,000 trucks earlier stranded at Nigeria’s borders with Benin and Niger Republics have begun movement following the reopening of the Kamba and Tsamiya border posts in Kebbi. The News Agency of Nigeria (NAN) reports that the reopening is in line with the directive by President Bola Ahmed Tinubu. The Kebbi Area Controller of the Nigeria Customs Service (NCS), Mahmoud Matawalle-Ibrahim, officially opened the borders to trucks from Benin and Niger on Monday in Kamba, Dandi Local Government Area of the state. He said, “The reopening of…

Feb

2026

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Nigeria Among Top Global GDP Contributors; Economy To Outpace US, South Africa In 2026

Economy, FGN, World News

Nigeria Among Top Global GDP Contributors; Economy To Outpace US, S’Africa In 2026 Nigeria has been ranked among the top 10 contributors to global economic growth in 2026, following projections by the International Monetary Fund (IMF) that the country’s economy will grow two times faster than that of the United States (US). Based on IMF data, the ranking was conducted by the World of Statistics, a digital platform providing data visualisation and global statistics on various topics, including economics. Nigeria, ranking sixth, is projected to account for 1.5 percent of the world’s real gross domestic product (GDP) growth in 2026.…

Jan

2026

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Otti’s Agricultural Revolution: Exploring Strategic Partnership With Anambra-Imo River Basin Development Authority – By Ebere Uzoukwa Ph.D (SSA To Governor Otti On Public Affairs)

Abia State, Agriculture, Columns/Opinions/Letters, Economy

Otti’s Agricultural Revolution: Exploring Strategic Partnership with Anambra-Imo River Basin Development Authority By Ebere Uzoukwa, PhD The recent engagement between Governor Alex Chioma Otti, OFR and Senator Emmanuel Anosike-led Executive Management Committee of the Anambra-Imo River Basin Development Authority marks a defining moment in Abia State’s renewed drive to reposition agriculture as a central pillar of economic growth, food sufficiency and rural development. Beyond the ceremonial value of the visit, the interaction clearly reflects a shared commitment to reviving structured agriculture through strategic collaboration, effective use of data and purposeful governance. The Anambra-Imo River Basin Development Authority is one of…

Jan

2026

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FGN To Integrate Islamic Finance Standards Into Nigeria’s Reporting System

Business, Economy, FGN, News Flash

FG To Integrate Islamic Finance Standards Into Nigeria’s Reporting System The Federal Government has initiated steps to integrate Islamic finance accounting and auditing standards into Nigeria’s financial reporting system, as part of efforts to enhance transparency, deepen financial inclusion,, and position the country as a leading hub for non-interest finance in Africa. The initiative was unveiled by the Financial Reporting Council of Nigeria at a stakeholders’ engagement on the integration of Islamic finance standards into the Nigerian Financial Reporting Framework, held at the Abuja Continental Hotel on Wednesday in Abuja. Attnews reports that the Accounting and Auditing Organisation for Islamic…

Jan

2026

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Supreme Court Reverses Ex-Jigawa Governor Lamido’s Acquittal In N1.35bn Fraud Trial

Crime, Economy, Judiciary

Supreme Court Reverses Ex-Jigawa Governor Lamido’s Acquittal In N1.35bn Fraud Trial The Supreme Court has set aside the decision of the Court of Appeal that discharged former Jigawa State governor Sule Lamido and his sons, Mustapha and Aminu, of money laundering charges. A five‑member panel of the Supreme Court handed down the decision in a unanimous judgment delivered on Friday in separate appeals filed by the Economic and Financial Crimes Commission (EFCC). In the lead judgment read by a member of the panel, Abubakar Umar, the Supreme Court set aside the 25 July 2023 rulings of the Court of Appeal…

Jan

2026

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Abia 2026 Appropriation: A Strategic Budget Of N1.016 Trillion – By Prof Chukwuemeka Ifegwu Eke

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

Abia 2026 Appropriation: A Strategic Budget of ₦1.016 Trillion Abia State has formally entered a new fiscal category. With the signing into law of the ₦1.016 trillion 2026 Appropriation Act, Governor Alex Chioma Otti has positioned Abia among Nigeria’s high-capacity subnational economies, moving the conversation from promises to measurable commitments. The figure—₦1,016,228,072,651.99—was confirmed by the Abia State Government following the budget signing on December 29, 2025, a full three days before the new fiscal year, signalling planning discipline rather than improvisation (https://abiastate.gov.ng).Unlike previous cycles where budgets were largely aspirational, the 2026 appropriation is structured around consolidation of ongoing infrastructure, institutional…

Dec

2025

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Why Abia Politics Is Changing – And Why Accountability Is No Longer Optional Under Alex Otti – By Prof Chukwuemeka Ifegwu Eke

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

WHY ABIA POLITICS IS CHANGING — AND WHY ACCOUNTABILITY IS NO LONGER OPTIONAL UNDER ALEX OTTI In every reform cycle, resistance follows reform. History shows that when entrenched systems of patronage and impunity begin to crack, the loudest reaction often comes not from evidence but from emotion. What is playing out in Abia State today fits a familiar global pattern: governance reforms provoke discomfort among political actors accustomed to opacity, while citizens unused to data-driven leadership struggle to recalibrate expectations. Contrary to the claim that accountability has collapsed under Governor Alex C. Otti, available evidence suggests the opposite. Abia has,…

Dec

2025

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Global Tides, Local Choices: How International Governance Shifts Are Shaping Abia’s Development Path – By Prof Chukwuemeka Ifegwu Eke

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

GLOBAL TIDES, LOCAL CHOICES: HOW INTERNATIONAL GOVERNANCE SHIFTS ARE SHAPING ABIA’S DEVELOPMENT PATH The world is in the middle of a quiet but consequential governance reset. From fiscal reforms in emerging economies to renewed global focus on inequality, health systems, and security, governments are being forced to rethink how states plan, spend, and protect their citizens. These global shifts are no longer abstract conversations in Washington, Geneva, or New York. They are landing directly in sub-national spaces like Abia State, where policy choices now intersect with international development logic more than at any point in the past two decades. Nigeria…