Economy - Abia ThinkTank News

Jul

03

2026

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By Abia ThinkTank

Tinubu Unveils ‘West Africa Largest Lithium Plant’ In Nasarawa

Economy, FGN, News Flash

Tinubu Unveils ‘West Africa Largest Lithium Plant’ In Nasarawa President Bola Tinubu has inaugurated what the Federal Government described as West Africa’s largest lithium processing plant in Nasarawa State, with a daily processing capacity of 6,000 metric tonnes and an annual processing capacity of three million metric tonnes. Tinubu inaugurated the plant in Endo community, Nasarawa Local Government Area, on Thursday. Our correspondent gathered that the company has provided over 1,000 direct jobs and more than 2,000 indirect jobs since it began operations in the area. Represented by Vice President Kashim Shettima, Tinubu said solid minerals remain the enduring backbone…

Jul

03

2026

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By Abia ThinkTank

Tinubu Unveils 5,000 New Jobs For Nigerian Youths (See How To Apply)

Economy, FGN, News Flash, Youths

Tinubu Unveils 5,000 New Jobs for Nigerian Youths (See How To Apply) President Bola Ahmed Tinubu has announced a major employment initiative that will create opportunities for 5,000 young Nigerians under the newly launched The Power Force programme, aimed at tackling unemployment while fixing Nigeria’s electricity metering challenges. The initiative, which falls under the Presidential Metering Initiative (PMI), will train successful applicants as meter installers and technicians, equipping them with practical skills and connecting them to jobs in Nigeria’s power sector. According to the President, the programme is designed to close the country’s metering gap, eliminate estimated billing, protect electricity…

Jul

02

2026

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By Abia ThinkTank

What Should Nigeria’s Minimum Wage Really Be? – A Quantitative Verdict- By Pastor Prof Chukwuemeka Ifegwu Eke

Economy, Columns/Opinions/Letters, Good Governance

WHAT SHOULD NIGERIA’S MINIMUM WAGE REALLY BE? — A QUANTITATIVE VERDICT It should be calculated from the purchasing power workers have lost. Nigeria’s minimum wage was raised to ₦30,000 in 2019. It became ₦70,000 in July 2024. The ILO has acknowledged that although the increase was significant, persistent inflation had already weakened its real effect and made it inadequate for the rising cost of living. 0 1. THE INFLATION TEST A minimum wage is meaningful only if it can buy approximately what the earlier wage bought. Using Nigeria’s cumulative inflation experience since 2019, the ₦30,000 minimum wage would now require…

Jul

01

2026

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By Abia ThinkTank

14 FG Funding, Skills Opportunities For Nigerian Youths

Economy, FGN

14 FG Funding, Skills Opportunities For Nigerian Youths A list of 14 youth-focused empowerment, funding, skills development and employment opportunities currently open to Nigerian youths has gained widespread attention on social media, offering applicants access to grants, training, loans and entrepreneurship support. The compilation, put together on Monday by X user Oladepo Caleb Olugbenga (YhungProf0), highlights programmes offered by the Federal Government and its agencies, alongside development partners, covering education, digital skills, entrepreneurship, healthcare, manufacturing and the creative industry. The opportunities include: Student Loan for Tertiary Education – Interest-free student loan repayable three years after graduation and upon securing employment.https://portal.nelf.gov.ng/auth/login…

Jul

01

2026

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By Abia ThinkTank

20 States Win $27 Million World Bank-Backed Performance Incentives

CBN/Commercial Banking, Economy, FGN

20 States Win $27 Million World Bank-backed Performance Incentives The World Bank-supported HOPE Governance Programme, will disburse 27 million dollars as performance-based incentives to 20 states that achieved the Year Zero Disbursement-Linked Results (DLRs). The National Coordinator of the HOPE Governance Programme, Dr Assad Hassan, disclosed this in Abuja on Tuesday during a retreat for Commissioners, Permanent Secretaries, and Directors of Budget and Planning. A statement on the outcome of the retreat was made available to newsmen by Mr Joe Mutah, Communications Officer HOPE Governance Programme. The HOPE Governance Programme is a 500-million-dollar World Bank-supported initiative domiciled in the Federal…

Jun

25

2026

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By Abia ThinkTank

Again, Dangote Refinery Slashes Fuel Price As Oil Rate Drops To $72 Per Barrel

Economy, FGN, News Flash

Again, Dangote Refinery Slashes Fuel Price As Oil Rate Drop To $72 Per Barrel The Dangote Refinery has reduced the ex-depot price of petrol by ₦50 per litre, adjusting it from ₦1,175 to ₦1,125 per litre. The refinery attributed the reduction in petrol prices to the easing of tensions in the Middle East, which has led to a decrease in global energy prices. A notice to customers indicated that the gantry loading price has been reduced from ₦1,175 per liter to ₦1,125 per liter, while the coastal supply price has decreased from ₦1,495,215 per metric ton to ₦1,428,165 per metric…

Jun

10

2026

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By Abia ThinkTank

Poverty Persists Despite Nigeria’s Reforms Gains; But Don’t Reintroduce Subsidy- IMF Tells President Tinubu

Economy, FGN, News Flash

Poverty Persists Despite Nigeria’s Reforms Gains; But Don’t Reintroduce Subsidy – IMF Tells Tinubu The International Monetary Fund (IMF) has urged the federal government to maintain a neutral fiscal stance in 2026, warning that poverty and food insecurity could worsen despite improvements in Nigeria’s macroeconomic stability. In its 2026 Article IV consultation report released on Tuesday, the Washington-based lender said reforms implemented over the past three years have strengthened economic resilience, but cautioned that higher global fuel and food prices pose fresh risks to inflation and living standards. “Strong reforms over the past three years have yielded improved macroeconomic outcomes…

May

26

2026

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By Abia ThinkTank

We Can Take More Loans, Nigeria Not Borrowing Like Egypt, South Africa, Others – Presidency

Economy, FGN, News Flash, Presidency

We Can Take More Loans, Nigeria Not Borrowing Like Egypt, South Africa, Others – Presidency The Presidency, on Tuesday, defended Nigeria’s borrowing profile, insisting that the country has not accumulated debt at the level of nations such as Egypt, South Africa and Senegal. Presidential spokesman, Bayo Onanuga, stated this in a post on X while reacting to concerns over Nigeria’s rising debt profile under the administration of President Bola Tinubu. According to Onanuga, Nigeria remains creditworthy and can still obtain more loans to finance infrastructure projects across the country. “Nigeria has not over borrowed compared to countries like Egypt, South…

May

25

2026

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By Abia ThinkTank

Tinubu’s N65.9trn Debt In 24 Months Exceeds Five Times Nigeria’s Total Borrowing In 55 Years – Oye

Economy, FGN, News Flash

Tinubu’s N65.9trn Debt In 24 Months Exceeds Five Times Nigeria’s Total Borrowing In 55 years — Oye The Chairman of the Alliance for Economic Research and Ethics LTD/GTE, Dele Oye, has lamented the unprecedented rise in public debt under the current administration, noting that the N65.9 trillion borrowed by the Bola Tinubu administration in the last 24 months exceeds more than five times the total debt Nigeria incurred in the first 55 years of its independence. Oye, who is the immediate past chairman of the Organised Private Sector of Nigeria (OPSN), noted that while successive governments accumulated debt over decades,…

May

07

2026

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By Abia ThinkTank

Abia Pension Reforms: Setting The Record Straight- By Ambassador Dr. Osita Offor (De Ultimate Commander)

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

Abia Pension Reforms: Setting the Record Straight - By Ambassador Dr. Osita Offor (De Ultimate Commander) The ongoing conversation around pensions in Abia State has once again drawn public attention, but it is important that this discussion is anchored on truth, context, and a sincere understanding of history. Much of what is being said today ignores the depth of the crisis that existed long before the emergence of Governor Alex Chioma Otti as Governor. For years, Abia’s pension system was a tragic example of neglect and systemic collapse. Retirees who had given their productive years to the service of the…