Economy

Feb
27
2025
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By Abia ThinkTank
First Made-In-Nigeria Helicopter Arriving Soon

First Made-In-Nigeria Helicopter Arriving Soon

Business, Economy, Manufacturing, News Flash
First Made-in-Nigeria helicopter Arriving soon The National Agency for Science and Engineering Infrastructure (NASENI) has said the engineering work on the first Made-in-Nigeria helicopter is nearing completion. The agency promised that it would soon fly the Nigerian chopper. The Project Manager of NASENI’s Aeronautics and Air Vehicle Development Institute in Kaduna, Kareem Aduagba, announced this yesterday during a Focus Group Engagement organised by the agency. The focus group engagement, which was attended by inventors and manufacturers from the academia and private sectors in Kaduna, was meant to promote local manufacturing, innovation, and the adoption of Made-in-Nigeria products. The forum brought…
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Feb
26
2025
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By Abia ThinkTank
Dangote Crashes Petrol Price By N65, Reveals New Price For Southwest, Other Zones

Dangote Crashes Petrol Price By N65, Reveals New Price For Southwest, Other Zones

Economy, News Flash, Oil & Gas
Dangote Crashes Petrol Price By N65, Reveals New Price For Southwest, Other Zones Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N65.00, from N890 to N825 per litre, effective from 27th February 2025. The price adjustment, according to Dangote was designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace. Recall that Dangote has severally reduced the prices of petrol and other…
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Feb
26
2025
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By Abia ThinkTank
World Bank To Approve $2.2 Billion Loan For Nigeria In 2025

World Bank To Approve $2.2 Billion Loan For Nigeria In 2025

Economy, News Flash
World Bank To Approve $2.2 Billion Loan For Nigeria In 2025 The federal government is expected to receive new loans from the World Bank, totalling $2.2 billion in 2025. According to the Washington-based financial institution’s project list, the $2.2 billion will cut across six different projects. World Bank earmarked $500 million for the ‘Community Action (for) Resilience and Economic Stimulus Programme,’ which will be approved by March 17. On March 31, the World Bank plans to approve $552 million for the ‘HOPE for Quality Basic Education for All’ and $800 million for ‘Accelerating Nutrition Results in Nigeria 2.0’. Also, the…
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Feb
26
2025
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By Abia ThinkTank
Abia Signs MOU To Roll Out Roadmap Instrument Between It And IOM, Canvases For Reverse Migration

Abia Signs MOU To Roll Out Roadmap Instrument Between It And IOM, Canvases For Reverse Migration

Abia State, Economy, Good Governance, News Flash
ABIA SIGNS MOU TO ROLL OUT ROADMAP INSTRUMENT BETWEEN IT AND IOM, CANVASES FOR REVERSE MIGRATION. Abia State Government has signed a Memorandum of Understanding to roll out roadmap instrument between it and the United Nations International Organisation for Migration (IOM). Speaking after the signing of the MoU, the State Governor, Dr. Alex Otti said that he is excited to work with the International Organisation for Migration (IOM) but emphasised that the State Government is much more committed to deploying strategies that encourage reverse migration rather than migration. According to the Governor, in the last 21 months, he has introduced…
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Feb
24
2025
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By Abia ThinkTank
Ooni Hails President Tinubu, Says Economic Reforms Yielding Fruits

Ooni Hails President Tinubu, Says Economic Reforms Yielding Fruits

News Flash, Economy, FGN, Politics
Ooni Hails Tinubu, Says Economic Reforms Yielding Fruits The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, on Sunday, commended President Bola Tinubu, saying the hardship resulting from his bold economic reforms is gradually giving way and yielding fruits for Nigerians. The monarch also said that the arbitrage between the parallel and the official markets has been closed completely for the first time in 20 years. He stated this at the maiden edition of the Nigeria-Kazakhstan Business Council International conference held in Abuja. “We all know the challenges of our dear country. I will give a simple example of a…
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Feb
23
2025
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By Abia ThinkTank
Fake Drugs: Soludo Counters Obi, Backs ‘Total Closure’ Of Onitsha Head Bridge Market

Fake Drugs: Soludo Counters Obi, Backs ‘Total Closure’ Of Onitsha Head Bridge Market

Business, Economy, News Flash, Politics
Fake Drugs: Soludo Counters Obi, Backs ‘Total Closure’ Of Onitsha Head Bridge Market Governor Charles Soludo of Anambra State has countered Peter Obi’s stance on the closure of the plumbing materials markets by the National Agency for Food and Drug Administration and Control (NAFDAC). As part of its fight against the proliferation of counterfeit drugs in Nigeria, NAFDAC recently shut down the entire Head Bridge Market in Onitsha following the discovery of fake drugs at the Ogbo Ogwu section of the market. The agency uncovered fake drugs at various shops in the market and also seized 10 trucks of substandard,…
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Feb
23
2025
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By Abia ThinkTank
FGN Has Spent $8 Billion To Support The Naira – Rewane

FGN Has Spent $8 Billion To Support The Naira – Rewane

Economy, FGN, News Flash
FG Has Spent $8 Billion To Support The Naira – Rewane The Federal Government has spent approximately $8 billion in an attempt to stabilize the naira amid ongoing economic pressures. This was made known by the CEO of Financial Derivatives Company, Bismarck Rewane on Friday. Speaking on Channels Television’s News at 10 on Friday, Rewane highlighted the substantial interventions made to manage exchange rate volatility and inflation concerns. He was speaking against the backdrop of the recent Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) which retained MPR at 27.50% on Thursday. According to him, the…
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Feb
21
2025
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By Abia ThinkTank
Civility, Disequilibrium, And The Creation Of Prosperity: The ABIA State Social Experiment Through The Lens Of The Bohr Model – By Dr. Chukwuemeka Ifegwu Eke

Civility, Disequilibrium, And The Creation Of Prosperity: The ABIA State Social Experiment Through The Lens Of The Bohr Model – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy
Civility, Disequilibrium, and the Creation of Prosperity: The Abia State Social Experiment Through the Lens of the Bohr Model In the annals of human progress, moments of profound transformation often emerge from the ashes of systemic failure, much like the quantum leaps that redefine atomic stability in the Bohr model. Abia State, once emblematic of Nigeria’s most debilitating paradoxes—a region blessed with human and material capital yet crippled by impoverishment, misgovernance, and squandered potential—now stands at the precipice of renewal. Drawing upon Niels Bohr’s revolutionary insights into atomic structure and his candid acknowledgment of the limitations of classical physics, we…
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Feb
19
2025
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By Abia ThinkTank
80% Of Aba’s Micro -Enterprises Lack Access To Formal credit: Collaborative Lending Models And Movable Asset Finance Could Unlock Growth For Abia’s “Japan Of Africa” MSMEs – By Dr. Chukwuemeka Ifegwu Eke

80% Of Aba’s Micro -Enterprises Lack Access To Formal credit: Collaborative Lending Models And Movable Asset Finance Could Unlock Growth For Abia’s “Japan Of Africa” MSMEs – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Economy
80% of Aba's micro-enterprises lack access to formal credit: Collaborative lending models and movable asset financing could unlock growth for Abia's "Japan of Africa" MSMEs In the bustling streets of Aba, Abia State, lies a tale of untapped potential and unrelenting resilience. The city, fondly referred to as the "Japan of Africa," is home to a plethora of micro-enterprises that form the backbone of the local economy. However, behind the vibrant markets and industrious entrepreneurs lies a harsh reality: 80% of these micro-enterprises are denied access to formal credit, stifling their growth and condemning them to a cycle of poverty.…
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Feb
14
2025
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By Abia ThinkTank
NNPC Reduces Petrol Price, Directs Filling Stations To Comply

NNPC Reduces Petrol Price, Directs Filling Stations To Comply

Business, Economy, News Flash, Oil & Gas
NNPC Reduces Petrol Price, Directs Filling Stations To Comply The Nigerian National Petroleum Company Limited (NNPCL) has announced a slight reduction in petrol prices at its retail stations, lowering the pump price from N960 to N945 per litre. The new pricing took effect on Thursday, February 13, 2025, following an official directive from the company’s headquarters. According to Politics Nigeria, At an NNPC filling station in Ejigbo, attendants confirmed the adjustment. One of them stated, “We received instructions this morning (Thursday) to change the price from N960 to N945. As you can see, more customers are coming in, and the…
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