Economy

Dec
25
2024
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By Abia ThinkTank
Economic Triumph In West Africa As Burkina Faso Clears $1.2 Billion Dollars Debt – By Dr. Chukwuemeka Ifegwu Eke

Economic Triumph In West Africa As Burkina Faso Clears $1.2 Billion Dollars Debt – By Dr. Chukwuemeka Ifegwu Eke

Columns/Opinions/Letters, Economy, Foreign Affairs, Good Governance
Economic Triumph in West Africa as Burkina Faso clears $1.2 billion dollars debt Burkina Faso, a landlocked country in West Africa, has long struggled with the weight of foreign debt. However, in a bold move, the government of Burkina Faso has announced that it has paid off its entire foreign debt, totaling $1.2 billion [approximately ₦2,040,000,000, using an exchange rate of 1 USD = 1,700 NGN]. This remarkable achievement is the result of a combination of prudent economic management, innovative financing strategies, and a commitment to transparency and accountability. The government's efforts to pay off its foreign debt began several…
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Dec
22
2024
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By Abia ThinkTank
Xmas Celebrations: Governor Otti Offers Free Transportation For Indigent Abians Across Nigeria

Xmas Celebrations: Governor Otti Offers Free Transportation For Indigent Abians Across Nigeria

Abia State, Economy, Good Governance, Transportation
PRESS RELEASE: FREE TRANSPORTATION FOR INDIGENT ABIANS. The Executive Governor of Abia State, His Excellency, Dr. Alex Chioma Otti OFR, has once again approved and mobilised Free Round-Trip Transportation for nearly 1,000 Indigent Abians identified without any means but interested in returning home to celebrate the 2024 Yuletide Season with their families back home from Selected Popular Routes. The selected pick-up locations/routes, No of Passengers, Inbound and Outbound Dates are as follows: Kaduna - Umuahia | Departure - 22nd December, 2024 | Return - 5th January, 2025. Jos - Umuahia | Departure - 20th December, 2024 | Return - 6th…
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Dec
20
2024
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By Abia ThinkTank
Christmas In Umuahia: Joy, Love And Rising Prices – By Dr. Chukwuemeka Ifegwu Eke

Christmas In Umuahia: Joy, Love And Rising Prices – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy, Good Governance
Christmas in Umuahia: Joy, Love and Rising Prices Here are the original four paragraphs, followed by four additional paragraphs with statistics: The festive season has brought about a significant surge in prices of goods and services in Uzuike, Umuahia, Abia State. According to a recent market survey, the prices of staple foods such as rice, beans, and garri have increased by an average of 25% in the past week alone. For instance, a 50kg bag of rice that previously sold for ₦18,000 now sells for ₦22,500. This price hike has made it challenging for many residents to afford basic necessities.…
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Dec
20
2024
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By Abia ThinkTank
Otti’s New ABIA: A Beacon Of Security, Prosperity And Good Governance – By Ebere Uzoukwa, Ph.D (SSA To Gov. Otti On Public Affairs)

Otti’s New ABIA: A Beacon Of Security, Prosperity And Good Governance – By Ebere Uzoukwa, Ph.D (SSA To Gov. Otti On Public Affairs)

Abia State, Columns/Opinions/Letters, Economy, Good Governance
Otti's New Abia: A Beacon of Security, Prosperity and Good Governance Ebere Uzoukwa, Ph.D As Abia State enters the Yuletide season, Governor Alex Chioma Otti's commitment to ensuring the safety and security of Abians, residents, and visitors remains unwavering. The recent donation of 20 brand new security vehicles and essential gadgets to security agencies in the state is a testament to this commitment. Governor Otti's efforts to enhance security in Abia State are multifaceted. Operation Crush, established shortly after his assumption of office, has significantly guaranteed security in the state. This initiative has provided a safe and secure environment for…
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Dec
20
2024
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By Abia ThinkTank
House Of Reps To Present N704.91 Million Half-Year Salary Donation To President Tinubu Dec. 31

House Of Reps To Present N704.91 Million Half-Year Salary Donation To President Tinubu Dec. 31

Economy, National Assembly, News Flash, Politics
House Of Reps To Present N704.91 Million Half-Year Salary Donation To President Tinubu Dec 31 The House of Representatives on Thursday announced plans to submit the sum of N704.91m for the use of vulnerable Nigerians owing to the economic hardship occasioned by the removal of subsidy from petrol on December 31, 2024, to President Tinubu. Recall that on July 18, the House resolved to slash 50 per cent of their salaries for six months to address the challenges faced by ordinary Nigerians, following the adoption of a motion moved during a plenary session. Addressing his colleagues during Thursday’s plenary, Mr…
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Dec
19
2024
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By Abia ThinkTank
Nigerian SEC Proposes New Law For Crypto Influencers, Defaulters Face Up To 3 Years Imprisonment

Nigerian SEC Proposes New Law For Crypto Influencers, Defaulters Face Up To 3 Years Imprisonment

CBN/Commercial Banking, Crime, Economy, Judiciary, News Flash
Nigerian SEC Proposes New Law For Crypto Influencers, Defaulters Face Up To 3 Years In  Jail  The Nigerian Securities and Exchange Commission (SEC) under Emomotimi Agama has proposed a new law aimed at combating the issue of crypto influencers using their influence to promote dubious crypto projects. The new law requires every crypto platform or Virtual Assets Service Provider (VASP) to be registered with a license from the Nigerian SEC before carrying out any promotion on social media, TV, or Print. The law is set to take effect on June 30th, 2025. Crypto influencers must also disclose to their community…
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Dec
18
2024
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By Abia ThinkTank
President Tinubu Reconstitutes Leadership Of 12 River Basin Development Authorities (See Full List)

President Tinubu Reconstitutes Leadership Of 12 River Basin Development Authorities (See Full List)

Business, Economy, News Flash, Politics, Presidency
Tinubu Reconstitutes Leadership Of 12 River Basin Devt Authorities (See Full List) President Bola Ahmed Tinubu has approved the reconstitution of the executive management teams for 12 River Basin Development Authorities (RBDAs) under the Federal Ministry of Water Resources, signaling his administration’s commitment to enhancing the efficiency of these critical organizations. The newly appointed executives are expected to leverage their expertise to boost agricultural productivity, manage water resources, and foster rural development in alignment with the administration’s commitment to improving the lives of Nigerians. The new appointments were made public on Wednesday in a statement issued by Special Adviser to…
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Dec
18
2024
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By Abia ThinkTank
Debt Servicing To Gulp N15.8Trn In President Tinubu’s 2025 Budget Proposal

Debt Servicing To Gulp N15.8Trn In President Tinubu’s 2025 Budget Proposal

Economy, FGN, News Flash, Politics, Presidency
Debt Servicing To Gulp N15.8Trn As Tinubu Presents 2025 Budget A sum of N15.81 trillion has been allocated for debt servicing in the 2025 Appropriation Bill presented to the joint sitting of the National Assembly by President Bola Ahmed Tinubu. Defence and Security tops the sectoral allocations in the N47.9 trillion budget presented by the President on Wednesday. The President disclosed this while giving a highlight of the Budget proposal before the National Assembly. He stated that Defence/Security was allocated N4.91 trillion; Infrastructure was allocated N4.06 trillion; Health N2.4 trillion health while Education gets N3.5 trillion. According to the President,…
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Dec
18
2024
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By Abia ThinkTank
Security, Infrastructure, Education Top President Tinubu’s 2025 N47.9 Trillion Budget Proposal

Security, Infrastructure, Education Top President Tinubu’s 2025 N47.9 Trillion Budget Proposal

Economy, FGN, News Flash, Politics, Presidency
Security, Infrastructure, Education Top Tinubu’s 2025 N47.9 Trillion Budget Proposal Security and defence, infrastructure, health and education were some of the sectors with high allocations in the N47.9tn Budget Proposal presented by President Bola Tinubu before a joint session of the National Assembly on Wednesday afternoon. “It is with great pleasure that I lay before this distinguished joint session of the National Assembly, the 2025 Budget of the National Assembly of Nigeria titled, ‘The Resurrection Budget’ security peace, building prosperity,” Tinubu said as he concluded his speech at 1:10pm on Wednesday. Earlier in his presentation, the President listed some of…
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Dec
18
2024
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By Abia ThinkTank
CBN Sets Daily Withdrawal Limit On POS To N100k Per Customer

CBN Sets Daily Withdrawal Limit On POS To N100k Per Customer

CBN/Commercial Banking, Economy, News Flash
CBN Sets Daily Withdrawal Limit On POS To N100k Per Customer The Central Bank of Nigeria (CBN) has set a daily withdrawal limit on point-of-sale (PoS) terminals to N100,000 per customer. This was contained in a circular to all deposit money banks (DMBs), microfinance Banks, mobile money operators and super-agents, titled ‘Cash-out limits for agent banking transactions,’. The apex bank of Nigeria, CBN, said the restriction is in line with the apex bank’s ongoing efforts to advance a cash-less economy. CBN had announced a fine of ₦150 million on Deposit Money Banks found guilty of giving out illegal flow of…
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