Economy - Abia ThinkTank News

Dec

2024

Dogara Backs Tax Reform Bills, Tackle Governors

Columns/Opinions/Letters, Economy, National Assembly, Politics

Dogara Backs Tax Reform Bills, Tackles Governors Former Speaker of the House of Representatives, Yakubu Dogara, on Monday night asked Nigerian governors to air their views and make recommendations where necessary on the controversial Tax Reform Bills rather than attempting to stop the proposed laws. Dogara insisted that the bills cannot be shut down on account of timing and alleged non-consultation of governors by the Taiwo Oyedele-led Presidential Committee. He spoke at a special town hall on the Tax Reform Bills aired by Channels Television. The former Speaker expressed worry that the bills have been generating fuss and taking regional…

Dec

2024

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By Abia ThinkTank

“ABIA State: A Beacon Of Hope Amidst Global Economic Uncertainty” – By Dr. Chukwuemeka Ifegwu Eke

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

"Abia State: A Beacon of Hope Amidst Global Economic Uncertainty" As the world grapples with a slowdown in global growth, projected to hit 2.4% in 2024 and 2.7% in 2025, according to the World Bank's Global Economic Prospects report, Abia State in Nigeria is bucking the trend. The state government, led by Governor Alex Otti, has been working tirelessly to promote economic growth and development. One of the key initiatives of the Abia State government is the establishment of the Abia State Public Private Partnership and Investment Promotion Board. This move aims to attract investors and promote economic growth in…

Dec

2024

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A TIME TO BELIEVE: Being Gov. Otti’s Speech At The Opening Ceremony Of The 2024 ABA International Trade Fair On 30/11/2024

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

A TIME TO BELIEVE Being the Text of an Address Presented by Governor Alex C. Otti, OFR, at the Opening Ceremony of the 2024 Aba International Trade Fair on Saturday, November 30, 2024, at the Aba Mega Mall. Protocols, We have reached a very important point in the evolution of Aba as a major business destination in Nigeria and across the West African region. What happens in this city, say, in the next decade or less, would depend largely on how we harness the opportunities and access events like this. Beyond the excitement that comes with hosting international programmes of…

Dec

2024

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Rising Sun, Greener Tomorrow: Governor Alex Otti’s Transformation Agenda For ABIA State – By Dr. Chukwuemeka Ifegwu Eke

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

Rising Sun, Greener Tomorrow: Governor Alex Otti's Transformation Agenda for Abia State Governor Alex Chioma Otti OFR has consistently work quietly behind the scenes with private sector titans to better the lot of Abians. Today, we would want to spotlight his efforts as he consistently advocates for the need to address pro-poor climate change initiatives and its devastating impacts. Dr Otti has been instrumental in pushing for private sector led initiatives that promote clean energy and reduce greenhouse gas emissions. For instance, Otti's Clean Plan Initiatives, which aims to reduce carbon pollution and emphasized the importance of investing in renewable…

Dec

2024

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It Would Shock Nigerians The Calibre Of People Who Escort Illegal Oil Bunkers – Fisayo Soyombo

Crime, Columns/Opinions/Letters, Economy, Oil & Gas

It Would Shock Nigerians The Calibre Of People Who Escort Illegal Oil Bunkers – Fisayo Soyombo The founder of the Foundation for Investigative Journalism (FIJ), Fisayo Soyombo, who was just released by the Nigerian Army has revealed that he was conducting an undercover investigation when he was arrested by the Nigerian Army. Soyombo also expressed worry about the kind of security cover available for oil bunkerers in the country. He said this while speaking in an interview on AriseTV morning show. “It would shock you the kind of people who escort illegal oil bunkers out of Port-Harcourt. “The army spokesman…

Nov

2024

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Who Does Aba Trade With?: A Closer Analysis Of ABIA GDP And Economic Performance – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy

Who does Aba Trade with? Abia's Trade DataNigeria's economic landscape is characterized by a significant nominal GDP of $199.72 billion as of Q3 2024, ranking the country 53rd globally. However, when considering purchasing power parity (PPP), Nigeria's GDP stands at an impressive $1.44 trillion, propelling the country to the 27th position worldwide. A closer examination of Nigeria's GDP statistics reveals a growth rate of 3.19% as of Q2 2024, indicating a steady expansion of the country's economy. Furthermore, the GDP per capita stands at $1,109 (nominal) and $6,320 (PPP) in 2024, providing insight into the standard of living and purchasing…

Nov

2024

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Gov. Alex Otti Vows To Claim Accumulated And Unclaimed Tetfund Approvals Earmarked For State Owned Institutions.

Abia State, Economy, Good Governance

GOVERNOR ALEX OTTI VOWS TO CLAIM ACCUMULATED AND UNCLAIMED TETFUND APPROVALS EARMARKED FOR STATE OWNED INSTITUTIONS. Abia State Governor Alex Otti OFR says his administration will do everything possible to claim accumulated and unclaimed funds earmarked for the State Owned by the Tertiary Education Trust Fund (TETFUND). Governor Otti made this pledge when he received in audience a delegation of the House of Representatives Committee on TETFUND and Other Services led by its Chairman, Hon. Princess Miriam Odinakachi Onuoha at the Government House Umuahia. The Governor who revealed that there is enormous work required to bring the education sector to…

Nov

2024

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Abia State Government Partners Bank Of Industry To Achieve Industrialization, Signs MOU

Abia State, CBN/Commercial Banking, Economy, Good Governance, News Flash

Abia State Government Partners Bank of Industry to Achieve Industrialisation, Signs MOU. Abia State government has signed a N10 Billion Memorandum of Understanding (MOU) with the Bank of Industry (BOI) for the industrialization of the state. The Executive Director, MSMEs, Bank of Industry, Shekarau Umar disclosed this while speaking with newsmen after signing the MOU in Umuahia. Under the agreement, the Abia State government will provide the sum of N5 Billion which will be matched with another N5 Billion by the BOI for a start and disbursed to entrepreneurs in the State to boost their businesses. According to the Executive…

Nov

2024

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Interest Rate Spikes To 27.25% As Money Is Scarce And It’s All Otti’s Fault: ABIA State Is Crashing Nigeria’s Economy – By Dr. Chukwuemeka Ifegwu Eke

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

Interest Rate Spikes to 27.25% as Money is Scarce and it's all Otti's fault: Abia State is crashing Nigeria's economy! The title's absurdity is quite attention-grabbing, isn't it? It's almost as ridiculous as comparing Governor Otti to his peers without proper context. I mean, why compare apples to oranges, right? As you quoted, the Bible says, "For we dare not make ourselves of the number, or compare ourselves with some that commend themselves: but they measuring themselves by themselves, and comparing themselves among themselves, are not wise." (2 Corinthians 10:12) It's essential to remember that every individual, including leaders like…

Nov

2024

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CBN Raises Interest Rate To 27.5%

CBN/Commercial Banking, Economy, FGN, News Flash

CBN Raises Interest Rate To 27.5% The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates in the country to 27.50 percent — from 27.25 percent. Olayemi Cardoso, CBN’s governor, announced the committee’s decision at a press conference on Tuesday.He said the committee increased the MPR by 25 basis points. Cardozo said the committee retained the asymmetric corridor at +500 and -100 basis points around the MPR. The CBN governor said the MPC also retained the cash reserve ratio (CRR) at 50 percent, as well as the…