Economy - Abia ThinkTank News

Sep

2024

World Bank Approves $1.57Billion Loan In Financing For Nigeria

CBN/Commercial Banking, Economy, FGN, News Flash

World Bank Approves $1.57 Billion Loan For Nigeria The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents. It added that the approved projects would also help build resilience to the effect of climate change such as floods and drought through improving dams safety and irrigation. The statement read, “The World Bank has today approved three operations for a total of $1.57bn to support the Government of Nigeria…

Sep

2024

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By Abia ThinkTank

FGN To Distribute 2,000 CNG-Powered Tricycles To Youths Across Nigeria From October 1st

Economy, FGN, News Flash

FG To Distribute 2,000 CNG-Powered Tricycles To Youths Across Nigeria From October 1st The Federal Government, through the Presidential Compressed Natural Gas Initiative (PCNGi), will begin the distribution of 2,000 CNG-powered tricycles to youths in the transportation sector across Nigeria starting October 1st, 2024. The initiative aims to distribute 2,000 CNG-powered tricycles to youths in the transportation sector across the country, as part of efforts to address rising transportation costs and promote more sustainable and affordable mobility options. In an X (formerly Twitter) post on Saturday, PCNGi highlighted that the program is part of the Tinubu administration’s broader strategy to…

Sep

2024

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By Abia ThinkTank

Binnance Founder, Zhao Released After Serving 4 Months

Crime, Economy, News Flash

Binance Founder, Zhao Released After 4 Months Changpeng Zhao, the founder of Binance and a key figure in the global cryptocurrency industry, has been released. He was released from a California correctional facility after serving a four-month sentence for failing to enforce anti-money laundering protocols on his exchange. The 47-year-old, widely known as “CZ,” returned to the US from Dubai earlier this year to face charges and serve time linked to regulatory breaches at Binance, the world’s largest crypto exchange by trading volume. His release came two days ahead of schedule due to standard practices when release dates fall on…

Sep

2024

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By Abia ThinkTank

Jonathan Tackles Sanusi As $49.8Billion Missing Allegations Gathers Momentum At Book Launch

Columns/Opinions/Letters, Economy, News Flash

Jonathan Tackles Sanusi As $49.8 Billion Missing Allegation Rears Head At Book Launch Former President Goodluck Jonathan tackled ex-Governor of Central Bank of Nigeria, CBN, Muhammad Sanusi Lamido Sanusi over claims that sum of $49.8 billion dollars got missing from the national coffers under his watch as president. Sanusi made the allegation when he served in the administration of Jonathan as the CBN governor. However, Sanusi who is now the Emir of Kano, Muhammad Sanusi 11 was suspended from office soon after he made the allegation. Jonathan suspended Sanusi on 20 February, 2014, few months to the end of his…

Sep

2024

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By Abia ThinkTank

President Tinubu Seeks Debt Forgiveness For Nigeria

Economy, FGN, News Flash

Tinubu Seeks Debt Forgiveness For Nigeria President Bola Tinubu has called on world leaders to prioritise debt forgiveness for Nigeria and other developing countries from creditors and multilateral financial institutions. The President also asked the United Nations to commit to multilateralism by deepening relations among member states, in line with the principles of inclusivity, equality etc Tinubu, who is the Chairman of the Authority of Heads of States and Government of the Economic Community of West African States, made the call while addressing world leaders during the General Debate of the ongoing 79th Session of the United Nations General Assembly,…

Sep

2024

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By Abia ThinkTank

FGN Explains Minimum Wage July 29 Backpay

Economy, Labour, News Flash

FG Explains Minimum Wage July 29 Backpay The Federal Government through the National Salaries, Incomes and Wages Commission has stated that the payment of the new minimum wage will commence from July 2024. The NSIWC Chairman, Ekpo Nta, said this during a press briefing on Tuesday in Abuja. The commission stated that this was because the date in question was when the President approved the bill after the National Assembly passed it. The development is contrary to an earlier statement by the Minister of State for Labour, Nkiruka Onyejeocha, that the payment would commence on May 1, 2024. It also…

Sep

2024

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By Abia ThinkTank

Tinubu And The Pursuit Of Alternative Truths – By Dr. Engr. Odo Ijere (Okpotemba)

Columns/Opinions/Letters, Economy, News Flash

TINUBU AND THE PURSUIT OF ALTERNATIVE TRUTHS. The hot pursuits of untruths, half truths, and what consistently is symptomatic of the alternative truths by the Tinubu government has become the norms of the presidency. Every truth is denied for want of perhaps alternative and non existent truths or just illusions. The nation is bedraggled with falsehoods and deceit with reckless abandon arising from the pursuits of banality and baseless illusions to ensure we continue to sink deeper and deeper. Who brought this calamity upon us? Edo election has come and gone but leaves the truth in no man's land with…

Sep

2024

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By Abia ThinkTank

Lifting Petrol From Dangote Refinery Will Moderate FX Pressure – CBN Governor

CBN/Commercial Banking, Columns/Opinions/Letters, Economy, News Flash

Lifting Petrol From Dangote Refinery ‘ll Moderate FX Pressure – CBN Governor, Cardoso The Governor of the Central Bank of Nigeria, Yemi Cardoso, says lifting of petroleum products from the Dangote Refinery will moderate foreign exchange demand pressures. Cardoso who said this on Tuesday in Abuja, while presenting a communique from the apex bank’s 297th Monetary Policy Committee meeting, said that it would also moderate transportation cost, thereby easing food prices. “The committee expressed optimism that the lifting of refined petroleum products from Dangote refinery will moderate transportation costs and significantly support the easing of food price pressures in the…

Sep

2024

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By Abia ThinkTank

Building Capacity To Support Sustainable Development Activities: A Case Study Of ABIA State – Presented By Dr. Alex Otti OFR @ An International Conference In U.K

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

BUILDING CAPACITY TO SUPPORT SUSTAINABLE DEVELOPMENT ACTIVITIES: A CASE STUDY OF ABIA STATE. PRESENTED BY THE GOVERNOR OF ABIA STATE, HIS EXCELLENCY DR ALEX C. OTTI, OFR, AT THE INTERNATIONAL CONFERENCE ON HUMAN RIGHTS, SUSTAINABILITY AND CLIMATE CHANGE AT THE SCHOOL OF LAW, UNIVERSITY OF BUCKINGHAM, UNITED KINGDOM. Evolution of Development.1.1. Historical evolution of development concepts, focusing on living conditions, social justice, and governance: Development is an ever-present idea that continues to evolve as human society reaches new possibilities and comes to a new sense of awareness of its strengths, opportunities and environmental advantages. The theory of development has preoccupied…

Sep

2024

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By Abia ThinkTank

Gov. Otti Flags-Off Disbursement Of Interest-Free Agricultural Empowerment Loan To 298 Farmers Trained At CSS Farm

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

Governor Otti Flags-off Disbursement ofInterest-Free Agricultural Empowerment Loan to 298 Farmers Trained at CSS Farm. Abia State Government says it is determined to create a new pathway of wealth for its citizens by providing them the needed support to make the most of the available resources domiciled in the State. Governor Alex Otti stated this during the flag-off of the disbursement of the Interest-Free Agricultural Empowerment Loan to 298 individuals trained at the CSS Farm, Nasarawa State by the Abia State Government. The Governor represented by his Chief of Staff, Pastor Caleb Ajagba, PhD, disclosed that the State government is…