Economy

Aug
23
2024
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By Abia ThinkTank
NNPC Reacts To Atiku’s Allegations Of Plan By Tinubu To Mortgage Nigeria’s Future Through OVH Deal

NNPC Reacts To Atiku’s Allegations Of Plan By Tinubu To Mortgage Nigeria’s Future Through OVH Deal

Economy, Columns/Opinions/Letters, News Flash, Oil & Gas
NNPC Reacts To Atiku’s Allegations Of Plan By Tinubu To Mortgage Nigeria’s Future Via OVH Deal The Nigerian National Petroleum Company Limited (NNPC Ltd) has reacted to allegations made by former Vice President Atiku Abubakar, accusing President Bola Tinubu of attempting to mortgage Nigeria’s future through the acquisition of OVH Energy by NNPC Ltd. In a statement titled “OVH Acquisition: The Facts, by NNPC Ltd,” the company denied any personal interest by President Tinubu in the acquisition. NNPC Ltd stated that investment decisions are based on commercial viability and national interest, and provided facts to counter Atiku’s allegations. The company…
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Aug
23
2024
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By Abia ThinkTank
Anambra Women Receive N50,000 First Lady’s Recapitalisation Grant

Anambra Women Receive N50,000 First Lady’s Recapitalisation Grant

Economy, FGN, News Flash
Anambra Women Receive N50,000 First Lady’s Recapitalisation Grant Over 1,000 women, including petty traders, vulnerable and persons living with disabilities from various communities across Anambra State, have received the recapitalisation grant of N50,000 each from Nigeria’s First Lady, Oluremi Tinubu’s Renewed Hope Initiative Economic Empowerment Programme. The First Lady had on Thursday, unveiled a recapitalisation grant for 37,000 women petty traders across the 36 states and the Federal Capital Territory. During the flag-off ceremony in Abuja, she said 1,000 women across each state and the FCT will get N50,000, totalling N1.85bn as part of her Renewed Hope Initiative’s Economic Empowerment…
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Aug
22
2024
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By Abia ThinkTank
Rain, Lightning, Thunderstorms Caused Petrol Scarcity – NNPC

Rain, Lightning, Thunderstorms Caused Petrol Scarcity – NNPC

Economy, News Flash, Oil & Gas
Rain, Lightning, Thunderstorms Caused Petrol Scarcity – NNPC The Nigerian National Petroleum Corporation Ltd. has blamed the fuel scarcity that has led to long queues in filling stations nationwide due to recent rains, lightning, and thunderstorms. NNPCL’s vice-president (downstream), Dapo Segun, disclosed this at a press conference at the NNPC towers in Abuja. Fuel queues have resurfaced in filling stations across the country, with car owners spending long hours in queues and black markets having a field day with fuel now being sold for as much as over N1,000. Apologising to Nigerians for the queues springing up across the country…
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Aug
22
2024
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By Abia ThinkTank
FGN Fines Fidelity Bank N555.8m For Compromising Customer Data

FGN Fines Fidelity Bank N555.8m For Compromising Customer Data

CBN/Commercial Banking, Economy, FGN, News Flash
FG Fines Fidelity Bank N555.8m For Compromising Customer Data The Federal government through the National Data Protection Commission has slammed Fidelity Bank with a fine of N555.8 million for violating customer data protection laws. This announcement was made by the commission’s National Commissioner, Vincent Olatunji, at the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive in Abuja on Wednesday. According to Olatunji, Fidelity Bank breached the National Data Protection Act (NDP Act) 2023 and the Nigeria Data Protection Regulation (NDPR) 2019, leading to the imposition of the fine. The penalty, which represents 0.1 per cent…
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Aug
22
2024
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By Abia ThinkTank
“Tinubu And Family Mortgaging Nigeria’s Future Like They Did To Lagos” – Atiku

“Tinubu And Family Mortgaging Nigeria’s Future Like They Did To Lagos” – Atiku

Columns/Opinions/Letters, Economy, News Flash
“Tinubu And His Family Mortgaging Nigeria’s Future Like They Did To Lagos” – Atiku Former Vice President of Nigeria, Atiku Abubakar, has declared that the future of Nigerians has been effectively mortgaged to President Bola Tinubu, his family, and associates. Atiku stated that even after Tinubu leaves office, it will be nearly impossible to break the shackles imposed on the country by the president. Atiku, who was the Presidential candidate of the Peoples Democratic Party (PDP) in the last election, in a statement by his media aide, Paul Ibe, accused Tinubu of integrating his business interests into the federal government’s…
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Aug
21
2024
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By Abia ThinkTank
A Future-Ready Society: Being Text Of Speech By Gov. Otti During Visit Of The British High Commissioner….

A Future-Ready Society: Being Text Of Speech By Gov. Otti During Visit Of The British High Commissioner….

Abia State, Economy, Good Governance, News Flash
A Future-Ready Society Being the Text of a Speech by Governor Alex C. Otti, OFR, on Tuesday, August 20, 2024, During the Visit of the British High Commissioner/Close-Out Ceremony of the 5-Day Digital Training Workshop for Abia Civil Servants Sponsored by the UK Foreign, Commonwealth and Development Office Protocols, I am very delighted to welcome the British High Commissioner, His Excellency, Dr Richard Montgomery and his entourage to Abia, God’s Own State. This very visit by the High Commissioner and his team highlights in a very special way, his genuine commitment to the development of Nigeria, and its subnational units.…
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Aug
19
2024
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By Abia ThinkTank
NNPC Ltd Speaks On Fuel Supply Situation

NNPC Ltd Speaks On Fuel Supply Situation

Economy, Business, News Flash, Oil & Gas
NNPC Ltd Speaks On Fuel Supply Situation The Nigerian National Petroleum Company Limited (NNPC Ltd.) has breaks silence on fuel supply situation in the country. The NNPC Ltd in a statement released today says the organization regrets the tightness in fuel supply witnessed in some parts of Lagos and the FCT. The statement by Olufemi SoneyeChief Corporate Communications OfficerNNPC Ltd attributes the tightness to distribution challenges. NNPCLimited is urging motorists to shun panic buying stressing that it is working round the clock with relevant stakeholders to restore normalcy.
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Aug
19
2024
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By Abia ThinkTank
FGN Plans New Taxes, Regulation For Cryptocurrency By September

FGN Plans New Taxes, Regulation For Cryptocurrency By September

CBN/Commercial Banking, Economy, FGN, News Flash
FG Plans New Taxes, Regulation For Cryptocurrency By September The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry. Speaking over the weekend at the FIRS 2024 Stakeholders Engagement with the Senate and House of Representatives Committees on Finance in Lagos, Dr. Adedeji highlighted the absence of current legal frameworks governing cryptocurrency in Nigeria, calling for the urgent need for regulation. Nigeria’s cryptocurrency industry is estimated to be worth up to $400 million and one…
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Aug
19
2024
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By Abia ThinkTank
FGN Eyes $500m World Bank Loan To Boost Education, Health Sectors

FGN Eyes $500m World Bank Loan To Boost Education, Health Sectors

CBN/Commercial Banking, Economy, Education, Health, News Flash
FG Eyes $500m World Bank Loan To Boost Education, Health Sectors The Federal Government is targeting a $500m loan from the World Bank to tackle inadequate human resource issues in the country’s education and healthcare systems. The proposed loan, part of the Nigeria Human Capital Opportunities for Prosperity and Equity Governance Programme, is intended to tackle long-standing staffing gaps and enhance the performance management of basic education teachers and primary healthcare workers. According to the “Programme Information Document” for the appraisal stage of the Nigeria Human Capital Opportunities for Prosperity and Equity Governance Programme, obtained by Sunday PUNCH on Friday,…
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Aug
17
2024
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By Abia ThinkTank
FAAC Disburses N1.358 Trillion In July 2024 To FG, States, LGAs

FAAC Disburses N1.358 Trillion In July 2024 To FG, States, LGAs

CBN/Commercial Banking, Economy, FGN, News Flash
FAAC Disburses N1.358 Trillion In July 2024 To FG, States, LGAs The Federation Accounts Allocation Committee (FAAC) has shared N1.358 trillion to Federal Government, States and Local Government Councils in July 2024. This allocation, which came from the July 2024 Federation Accounts Revenue, is aimed at promoting equitable distribution of resources across the country. According to the communiqué at the end of the meeting, the Federal Government received a cumulative sum of N431.079 billion while state governments were allocated N473.477 billion. Local governments received N343.703 billion, and oil-producing states were granted N109.816 billion. The breakdown of the N1.358 trillion total…
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