Economy - Abia ThinkTank News

Aug

2025

The ABIA Game Of Thrones: A Satire In Seven Kingdom’s Style – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy

The Abia Game of Thrones: A Satire in Seven Kingdoms' Style Beneath the searing Niger sun, amidst the whispering oil palms and bustling markets of Umuahia, unfolds a drama worthy of Westeros itself. Governor Alex Otti, erstwhile banker now ascendant ruler, sits not upon the molten Iron Throne, but a seat no less perilous: the Governorship of Abia State. His crusade? To purge the realm of the endemic profligacy and chicanery that have long sapped its coffers, a quest echoing Jon Snow’s quixotic battle against the White Walkers – an existential threat cloaked in bureaucratic fog. Enter the players, our…

Aug

2025

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Those Campaigning To TakeOver From Otti In 2027 Are Wasting Their Time – Catholic Bishop Of Umuahia, Ukpong, Says Impossible Things Before Have Become Possible Under Gov. Otti

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

THOSE CAMPAIGNING TO TAKEOVER FROM OTTI IN 2027 ARE WASTING THEIR TIME - CATHOLIC BISHOP OF UMUAHIA, UKPONG, SAYS IMPOSSIBLE THINGS BEFORE HAVE BECOME POSSIBLE UNDER GOV. OTTI. ‎‎The Catholic Bishop of Umuahia Diocese, Most Rev. Michael kalu Ukpong says that those campaigning to takeover from Governor Alex Otti, OFR, in 2027 are wasting their time, saying that the Governor's good works in just two years have done the campaign for him.‎‎Bishop Ukpong stated this on Sunday, 17th August, when he hosted the Governor to a lunch at Mater Dei Cathedral, Umuahia, to celebrate his impactful and remarkable achievements, in…

Aug

2025

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How USD 263.80 Million Will Boost Governor Otti’s Road Revolution Agenda And Create More Jobs For Abians – By Ebere Uzoukwa, Ph.D(SSA To Governor Otti On Public Affairs)

Columns/Opinions/Letters, CBN/Commercial Banking, Economy, Good Governance

How USD 263.80 Million Will Boost Governor Otti’s Road Revolution Agenda and Create More Jobs for Abians By Ebere Uzoukwa, PhD The recent approval by the Federal Executive Council of the USD 125 million Islamic Development Bank financing facility for the Abia State Integrated Infrastructure Development Project marks another decisive step in Governor Alex Chioma Otti’s bold and methodical drive to rebuild Abia’s infrastructure. This financing forms part of a larger USD 263.80 million co-financing package, which also includes USD 100 million from the African Development Bank, USD 15 million from the Canada–Africa Development Bank, and USD 23.80 million counterpart…

Aug

2025

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$263.8m ABIA Road Revolution: President Tinubu Greenlights Historic Deal As Governor Otti Vows “Military -Grade Delivery” – By Dr. Chukwuemeka Ifegwu Eke

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

$263.8M ABIA ROAD REVOLUTION: PRESIDENT TINUBU GREENLIGHTS HISTORIC DEAL AS GOVERNOR OTTI VOWS "MILITARY-GRADE DELIVERY"* Integrated Financing & Strategic ApprovalPresident Bola Tinubu’s administration has unlocked a transformative $263.8 million infrastructure package for Abia State through a landmark Federal Executive Council approval on August 13, 2025. This multi-source financing framework combines $125 million from the Islamic Development Bank (IsDB), $100 million from the African Development Bank (AfDB), $15 million from the Canada–Africa Development Bank, and $23.8 million in counterpart funding from the Abia State Government. The IsDB facility – the critical final piece – activates the entire funding mosaic, marking Nigeria’s…

Aug

2025

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President Tinubu Approves $125 Million Islamic Development Bank Facility For ABIA State Integrated Infrastructure Development Project (ABSIID)

Abia State, CBN/Commercial Banking, Economy, FGN, News Flash

Press Release: PRESIDENT TINUBU APPROVES $125 MILLION ISLAMIC DEVELOPMENT BANK FACILITY FOR ABIA STATE INTEGRATED INFRASTRUCTURE DEVELOPMENT PROJECT (ABSIID) The Abia State Government is pleased to announce that the long-awaited USD 125 Million Islamic Development Bank (IsDB) financing facility for the Abia State Integrated Infrastructure Development Project has been approved by the Federal Executive Council (FEC) at its meeting of Wednesday, August 13, 2025. This approval marks a major milestone in a project that has undergone extensive consultations and procedural steps, and is a critical component of the overall co-financing arrangement for the State’s ambitious infrastructure development drive. The project’s…

Aug

2025

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Public Officers Declare Nonexistent Assets To Justify Corruption – EFCC Chairman

Crime, Economy, News Flash

Public Officers Declare Nonexistent Assets To Justify Corruption – EFCC Chairman The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr, Ola Olukoyede, has disclosed that many public officers are now perfecting the antics of anticipatory declaration of assets to justify their intended stealing of public funds and other acts of corruption. Speaking in Abuja on Tuesday, August 12, 2025, during a goodwill address at the launch of the Virtual Tool on the Code of Conduct for Public Officers—an initiative by the Code of Conduct Bureau (CCB) in partnership with the Technical Unit on Good Governance and Anti-Corruption…

Aug

2025

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Tinubu Administration Takes Credit As Stock Market Boom, Grows In Tripple

CBN/Commercial Banking, Economy, FGN, News Flash, Presidency

Tinubu Administration Takes Credit As Stock Market Boom, Grows Triple The federal government says the Nigerian stock market is experiencing an unprecedented boom, with key indicators showing remarkable growth since President Bola Ahmed Tinubu assumed office on May 29, 2023. The Nigerian Exchange (NGX) has seen its All-Share Index (ASI) and market capitalisation more than triple, reflecting investor confidence and the impact of sweeping economic reforms. According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, at the time of President Tinubu’s inauguration, the NGX All-Share Index stood at 52,973.88 points, with a market capitalisation of N28.845…

Aug

2025

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EFCC Grants Tambuwal Bail After N189 Billion Probe

Crime, Economy, News Flash

EFCC Grants Tambuwal Bail After N189 Billion Probe The Economic and Financial Crimes Commission (EFCC) has granted administrative bail to former Sokoto State Governor, Senator Aminu Tambuwal, following hours of questioning over alleged N189 billion withdrawals during his tenure. Tambuwal, a former Speaker of the House of Representatives, honoured the EFCC’s invitation on Monday, arriving at the agency’s Abuja headquarters at 11:16 a.m. A senior EFCC official noted that the former governor was released after meeting his bail conditions. “He has already been granted administrative bail. We’ve extracted what we need from him, and he will soon leave our headquarters…

Aug

2025

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Nigeria’s N54.99 Trillion Budget Suffers Setback As Oil Drops To $66 Per Barrel

Economy, News Flash, Oil & Gas

Nigeria’s N54.99 Trillion Budget Suffers Setback As Oil Drops To $66 Per Barrel The execution of Nigeria’s N54.99 trillion budget suffered a major setback as the crude price dropped to $66 per barrel from $70 per barrel, indicating a 5.7 percent decrease, yesterday. This was even as Nigeria’s oil output, including condensate and foreign exchange, stood at 1.8 million barrels per day and more than N1,500 per dollar, respectively. The nation’s budget was based on 2.06 million barrels per day (bpd), N1,500 per dollar, and $75 per barrel oil output, exchange rate, and oil price, respectively. However, in an interview…

Aug

2025

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NYSC, CREDICORP Launch N200,000 Loan Scheme For Corps Members Nationwide

Economy, News Flash, Youths

NYSC, CREDICORP Launch N200,000 Loan Scheme For Corps Members Nationwide The Nigerian Consumer Credit Corporation (CREDICORP) has partnered with the National Youth Service Corps (NYSC) to introduce YouthCred, a loan programme offering corps members access to credit facilities of up to ₦200,000. The initiative was formalised on Wednesday in Abuja through the signing of a Memorandum of Understanding (MoU) between the two institutions. CREDICORP Managing Director/CEO, Engr. Uzoma Nwagba, revealed that ₦9 billion has been allocated for the first phase, which will focus exclusively on NYSC members. He explained that the programme aligns with President Bola Tinubu’s Democracy Day pledge…