Economy

Jan
26
2025
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By Abia ThinkTank
Tax Titans: Lagos Generates N2.75 Trillion, Rivers And FCT Follow – See Full Breakdown

Tax Titans: Lagos Generates N2.75 Trillion, Rivers And FCT Follow – See Full Breakdown

Economy, FGN, News Flash
Tax Titans: Lagos Generates ₦2.75 Trillion, Rivers And FCT Follow – Full Breakdown Lagos State has retained its position as Nigeria’s leading contributor to Value Added Tax (VAT) revenue in 2024, recording a staggering ₦2.75 trillion, representing 54% of the country’s total non-import VAT earnings. Tourism packages According to data published by Agora Policy, a Nigerian think tank, Rivers State secured the second spot with ₦832.69 billion, while the Federal Capital Territory (FCT) ranked third with ₦303.64 billion. Oyo State came fourth with ₦272.41 billion, and Kano State rounded off the top five with ₦77.76 billion. Meanwhile, the remaining 33…
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Jan
25
2025
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By Abia ThinkTank
Economic Assessment Of Interplanetary Trade: A New Macroeconomic And Galactic Frontier – By Dr. Chukwuemeka Ifegwu Eke

Economic Assessment Of Interplanetary Trade: A New Macroeconomic And Galactic Frontier – By Dr. Chukwuemeka Ifegwu Eke

Columns/Opinions/Letters, Economy, International
Economic Assessment of Interplanetary Trade: A New Macroeconomic and Galactic Frontier As the world hurtles towards colonizing Mars and the Moon, a new frontier in interplanetary trade is emerging. This nascent industry promises to revolutionize the global economy, unlocking unprecedented opportunities for growth, innovation, and cooperation. In this assessment, we'll delve into the economic implications of interplanetary trade, exploring the statistics, challenges, and prospects of this burgeoning sector. The Lunar and Martian Markets: A Dual-Frontier OpportunityThe Moon and Mars represent two distinct markets, each with its unique characteristics, challenges, and opportunities. The lunar market is expected to focus on resource…
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Jan
24
2025
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By Abia ThinkTank
FG Approves N4 Billion Conditional Cash Transfer For Vulnerable Households

FG Approves N4 Billion Conditional Cash Transfer For Vulnerable Households

FGN, CBN/Commercial Banking, Economy, News Flash
The Federal Government has approved N4bn for conditional cash transfers to vulnerable households in Nigeria. During the launch of the 2025 Nigeria Humanitarian Needs and Response Plan at the United Nations House in Abuja on Thursday, the Minister of Humanitarian Affairs and Poverty Reduction, Professor Nentawe Yilwada, announced the interventions aimed at addressing the country’s deepening humanitarian crisis. This initiative is expected to support at least 10 million displaced households, primarily targeting the most vulnerable members of society. The cash transfer programme is set to commence in February and continue through April, focusing on alleviating the immediate needs of families…
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Jan
22
2025
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By Abia ThinkTank
Okonjo-Iweala Speaks Amid Trump Tariff Threats

Okonjo-Iweala Speaks Amid Trump Tariff Threats

Columns/Opinions/Letters, Economy, Foreign Affairs, World News
Okonjo-Iweala Speaks Amid Trump Tariff Threats Ngozi Okonjo-Iweala, director-general of the World Trade Organisation (WTO), has called for calm over tariff threats by United States (US) President Donald Trump. On Monday, after his presidential inauguration, Trump threatened to impose 25 percent tariffs on Mexico and Canada for failing to meet US immigration standards by February 1. At the 2025 World Economic Forum (WEF) in Davos, Switzerland, Okonjo-Iweala addressed the development during a panel discussion held on Tuesday. Okonjo-Iweala advised WTO members to observe actual policy implementations before reacting, saying calmness is necessary during uncertain developments. “I’m concerned, but you can…
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Jan
20
2025
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By Abia ThinkTank
Dangote Partners 3 Petrol Stations, Announces New Price Nationwide

Dangote Partners 3 Petrol Stations, Announces New Price Nationwide

Economy, Business, News Flash, Oil & Gas
Dangote Partners 3 Petrol Stations, Announces New Price Nationwide Dangote Refinery has assured Nigerians that three of its partners will sell petrol for ₦970 per litre nationwide despite the company’s recent increase in the ex-depot price of petrol. A spokesman for the refinery Anthony Chiejina said the recent adjustment in the company’s ex-depot price “is directly related to the significant increase in global crude oil prices”. In a statement on Sunday, Chiejina said, “While we have made a 5% adjustment to our ex-depot price from N899.50 to N950 per litre, it is important to note that this increase is considerably…
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Jan
20
2025
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By Abia ThinkTank
Trump’s Cryptocurrency $TRUMP Meme Coin Skyrockets From $1.5 To $70 In 48 Hours

Trump’s Cryptocurrency $TRUMP Meme Coin Skyrockets From $1.5 To $70 In 48 Hours

Abia State, CBN/Commercial Banking, Economy, Foreign Affairs, Information Technology, Politics
Trump’s Cryptocurrency $TRUMP Meme Coin Skyrockets From $1.5 To $70 In 48 Hours The $TRUMP meme coin, launched by US President-elect Donald Trump on Friday with an initial price of $1.5, has seen a remarkable surge in value. The coin launched three days to his inauguration as the 47th President of the United States of America, boomed to as high as $70 on Sunday within two days. Trump launched his own cryptocurrency on Friday ahead of his takeover of office from President Joe Biden. By Sunday morning, the meme coin, $Trump, had quickly soared in market capitalization to $14.1 billion…
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Jan
19
2025
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By Abia ThinkTank
The Ariaria Market Trade Laboratory: A Hub For Entrepreneurial Innovation – By Dr. Chukwuemeka Ifegwu Eke

The Ariaria Market Trade Laboratory: A Hub For Entrepreneurial Innovation – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy, Good Governance
The Ariaria Market Trade Laboratory: A Hub for Entrepreneurial Innovation A trade laboratory facilitates collaboration and knowledge-sharing among traders and artisans, leading to new ideas and innovations. It also provides access to new markets and customers, both locally and internationally. According to the Ariaria International Market Traders Association, an estimated 50% of traders introduce new products or services within the past year. The Ariaria Market Trade Laboratory is a dynamic and interactive environment where entrepreneurs, traders, and artisans come together to experiment, innovate, and test new ideas, products, and services. With over 30,000 traders and artisans operating in the market,…
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Jan
18
2025
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By Abia ThinkTank
Otti, Other Governors Issue Communique After Sub-national Consultation And Engagement With The Presidential Tax Reform Committee

Otti, Other Governors Issue Communique After Sub-national Consultation And Engagement With The Presidential Tax Reform Committee

Abia State, Economy, FGN, Good Governance
GOV OTTI, OTHERS ISSUES A COMMUNIQUE AFTER A SUBNATIONAL CONSULTATION AND ENGAGEMENT WITH THE PRESIDENTIAL TAX REFORM COMMITTEE The Nigeria Governors' Forum (NGF), has released a communique on the Presidential Tax Reform Bill proposed by President Ahmed Bola Tinubu, CGFR. The communique was released after a subnational consultation with the Presidential Committee on Tax Reforms. The Abia State Governor, Dr. Alex Chioma Otti, OFR, was represented by his Deputy, Engr. Ikechukwu Lekwachi Emetu, FNSE. The communique read thus: "We, members of the Nigeria Governors’ Forum (NGF) andpresidential tax reform committee, convened on the 16th of January2025 to deliberate on critical…
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Jan
18
2025
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By Abia ThinkTank
FG, States, LGAs Share N1.424 Trillion December 2024 FAAC Revenue

FG, States, LGAs Share N1.424 Trillion December 2024 FAAC Revenue

Abuja, Economy, FGN, News Flash
FG, States, LGAs Share ₦1.424 Trillion December 2024 FAAC Revenue A total sum of ₦1.424 trillion, being December 2024 Federation Accounts Revenue, has been shared among the Federal Government, States and Local Government Councils. The revenue was shared at the January 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja. The Director of Press and Public Relations, Office of the Accountant General of the Federation (OAGF), Bawa Mokwa, disclosed this in a statement on Friday. The ₦1.424 trillion total distributable revenue comprised distributable statutory revenue of ₦386.124 billion, distributable Value Added Tax (VAT) revenue of ₦604.872 billion, Electronic Money…
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Jan
18
2025
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By Abia ThinkTank
Another Transformative Opportunity As Abia State Hosts A Refinery… – By Dr. Chukwuemeka Ifegwu Eke

Another Transformative Opportunity As Abia State Hosts A Refinery… – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy, Good Governance, Oil & Gas
Abia State hosts a refinery… The prospect of Abia State hosting a refinery presents a transformative opportunity for the region, poised to catapult the state into a hub of industrial activity and economic growth. With the potential to generate significant revenue, create thousands of jobs, and stimulate local economic development, a refinery in Abia State could be a game-changer for the local economy, positioning the state as a key player in Nigeria's oil and gas industry. Economic BenefitsHosting a refinery in Abia State could have a significant impact on the state's economy. According to a study by the Nigerian National…
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