Economy - Abia ThinkTank News

Mar

2025

Abia State’s Prosperity: A Cyclone Of Growth Gathering Momentum – By Dr. Chukwuemeka Ifegwu Eke

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

Abia State’s Prosperity: A Cyclone of Growth Gathering Momentum IntroductionMuch like a cyclone developing over warm ocean waters, Abia State in southeastern Nigeria is harnessing latent energy across sectors to fuel a storm of economic and social transformation. Cyclones begin as mere disturbances, gradually organizing into powerful systems. Similarly, Abia’s prosperity is brewing through strategic reforms, investments, and innovation—culminating into a force poised to reshape its future. 1. Governance: The Tropical DisturbanceEvery cyclone starts with a disturbance. For Abia, this began with governance reforms. Under Governor Alex Otti’s administration, the state prioritized transparency and infrastructure. In 2023, 35% of Abia’s…

Mar

2025

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Gov. Otti To Partner Vietnam To Improve Agriculture, Trade, Commerce, Others

Abia State, Agriculture, Economy, Good Governance, News Flash

GOV. OTTI TO PARTNER VIETNAM TO IMPROVE AGRICULTURE, TRADE, COMMERCE, OTHERS. Abia State Governor, Dr. Alex Otti says his Government is interested in partnering the Socialist Republic of Vietnam in various areas of the economy to develop Abia State. Governor Alex Otti stated this Tuesday while receiving in audience, a delegation led by the Vietnamese Ambassador to Nigeria, Mr. Bui Quoc Hung who paid him a working visit at his Umuehim, Nvosi Country home. He said that there are many areas the State could partner with Vietnam for mutual benefits. "We are very happy to have you in Abia. We…

Mar

2025

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In Major Leadership Overhaul, CBN Appoints 16 New Directors

CBN/Commercial Banking, Economy, News Flash

CBN Appoints 16 New Directors In Major Leadership Overhaul The Central Bank of Nigeria (CBN) has appointed 16 new directors across key departments in a significant leadership shakeups. These appointments affect crucial areas such as Monetary Policy department, Trade and Exchange Department, Banking Supervision, Payment Systems and Consumer Protection among others. This new appointments are coming at a time when regulators are tightening oversight on banks and financial technology firms as it declared last week as well as the final leg of the banking sector recapitulation exercise. A source at the CBN told The Nation that “the very best were…

Mar

2025

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Monday Energy Meets History-Making Urgency! Abia’s Time Is Now – As Otti Turns Pledges Into Progress, One Bold Decision At A Time – By Dr. Chukwuemeka Ifegwu Eke

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

Monday Energy Meets History-Making Urgency! Abia's Time is Now - As Otti turns pledges into progress, One Bold Decision at a Time #NewAbiaRising Abia State stands at a critical juncture in its governance trajectory, with socioeconomic indicators that were underscoring both the gravity of its challenges, (pre-Otti) and the promise of a once-in-a-generation opportunity for renewal. With an estimated population of 4.7 million people, the state contributes just 1.2% to Nigeria’s GDP despite its strategic location in the oil-rich Niger Delta and historical prominence in commerce and manufacturing. According to the National Bureau of Statistics (NBS), Abia’s unemployment rate surged…

Feb

2025

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Gov. Otti Setting Up Export Growth Lab In ABA, Seeks Greater Partnership With UNDP

Abia State, Business, Economy, Good Governance, News Flash

GOV. OTTI PLANS TO SET UP EXPORT GROWTH LAB IN ABA, SEEKS GREATER PARTNERSHIP WITH UNDP. In a bid to create a more functional economy in the State, Abia State Governor, Dr. Alex Otti is planning to set up an export growth lab in Aba the commercial nerve centre of the South East. Governor Otti disclosed this on thursday while receiving in audience the Resident Representative of the United Nations Development Programme (UNDP). He expressed the hope that there is a lot Abia State Government can do together with the UNDP. "We believe that there is a whole lot we…

Feb

2025

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There Is No Better Place For Investment Than ABIA, Gov. Otti Tells German Consul General

Abia State, Business, Economy, Good Governance, News Flash

THERE IS NO BETTER PLACE FOR INVESTMENT THAN ABIA, GOV. OTTI TELLS GERMANY CONSUL GENERAL. Abia State Governor, Dr. Alex Otti says that there is no better place to invest than Abia as the State has what it takes to partner investors and drive the State's economy. Governor Otti stated this on thursday while receiving in audience the Consul General of Republic of Germany to Nigeria, Mr. Weert Borner. He said that there is a lot of opportunities in Abia yearning for partnership with credible organisations. The Governor said that the time is ripe for investors to explore opportunities in…

Feb

2025

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FGN Urges Cement Price Reduction Amid Economic Recovery, Proposes New Price

Business, Economy, FGN

FG Urges Cement Price Reduction Amid Economic Recovery, Proposed New Price The Federal Government has urged cement manufacturers to lower prices to N7,000, citing improved economic conditions. This call was made by the Minister of Works, Sen. Engr. Nweze David Umahi, during a meeting at the Ministry’s headquarters in Abuja on February 26, 2025, according to a statement on the ministry’s website. Umahi noted that the naira has stabilized at about N1,400 per dollar, and petrol prices have dropped, creating a conducive environment for reduced cement costs. He criticized the current price of N9,500, pointing out that manufacturers increased prices…

Feb

2025

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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…

Feb

2025

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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…

Feb

2025

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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…