Economy

Sep
18
2024
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By Abia ThinkTank
Meet Nigerian Woman Who Produces Over 10,000 Tons Of Cassava And Makes Over $12 Million Annually

Meet Nigerian Woman Who Produces Over 10,000 Tons Of Cassava And Makes Over $12 Million Annually

Business, Economy, News Flash
MEET A WOMAN WHO PRODUCES OVER 10,000 TONS OF CASSAVA AND MAKES OVER $12 MILLION ANNUALLY Meet Yemisi Iranloye, the Nigerian entrepreneur who has become the undisputed "Cassava Queen." Despite facing competition from multinational corporations, she has maintained her dominance in the cassava industry. With her company, Psaltry International, Iranloye produces an impressive 10,000 tons of cassava annually, generating an astonishing annual turnover of $12 million. Her success is a testament to her unwavering determination and business acumen. Iranloye's journey began in her hometown of Ilesa, Osun State, Nigeria. She started her business with a modest investment and a deep…
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Sep
16
2024
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By Abia ThinkTank
It’s Very Misleading – Dangote Refinery Speaks On Selling Petrol At N898 Per Litre

It’s Very Misleading – Dangote Refinery Speaks On Selling Petrol At N898 Per Litre

Business, Columns/Opinions/Letters, Economy, News Flash, Oil & Gas
It’s Very Misleading — Dangote Refinery Speaks On Selling Petrol At N898 Per Litre Dangote Petroleum Refinery says the claim by the Nigerian National Petroleum Company (NNPC) Limited that the refiner sold petrol at N898 per litre is misleading. In a statement on Sunday by Dangote Group, the company described the statement by NNPC as “mischievous”. There had been several news reports that NNPCL said it purchased fuel at N898 per litre from the Dangote Refinery in Lagos. But in a statement on Sunday by Dangote Group, the company described the statement by NNPC as “mischievous”. The Press statement reads:…
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Sep
14
2024
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By Abia ThinkTank
Abia State Gov. Alex Otti Urges Traders To Relocate To ABIA, Assures Them Of Adequate Security And Business Friendly Atmospheres

Abia State Gov. Alex Otti Urges Traders To Relocate To ABIA, Assures Them Of Adequate Security And Business Friendly Atmospheres

Abia State, Business, Economy, News Flash
ABIA STATE GOV. ALEX OTTI URGES TRADERS TO RELOCATE TO ABIA, ASSURES THEM OF ADEQUATE SECURITY AND BUSINESS FRIENDLY ATMOSPHERES: Governor Alex Chioma Otti OFR has assured leaders and traders of Alaba International Markets, Oyinbo, Ladipo, and United Market Leaders and Traders Association of Nigeria of adequate security measures, a business-friendly atmosphere, and a conducive environment to invest and do business in Abia State. Through his Special Adviser on Trade, Commerce, and Industry, Chief Nwaka Inem, Governor Otti expressed his administration's readiness to create physical infrastructural development and facilities that will serve as a one-stop business hub for investors and…
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Sep
14
2024
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By Abia ThinkTank
Tapping Into The Next Frontier: Leadership And Imperatives Of New Development Paradigm For Africa – Being Gov. Otti’s Speech At 2024 Innovative Africa Conference Washington University

Tapping Into The Next Frontier: Leadership And Imperatives Of New Development Paradigm For Africa – Being Gov. Otti’s Speech At 2024 Innovative Africa Conference Washington University

Abia State, Economy, Good Governance, News Flash
Tapping into the Next Frontier: Leadership and the Imperatives of New Development Paradigm for Africa Being the Text of a Keynote Speech by Governor Alex C. Otti, OFR, at the 2024 Innovate Africa Conference 2024 on Friday, September 13, 2024, at the George Washington University, DC, United States. Protocols, There is a general consensus amongst development experts, scholars and investors that Africa offers two very strategic prospects for the future of our civilisation. Firstly, the vast deposits of highly-priced mineral resources buried in our soil are becoming increasingly critical in the continuing push to build a more sustainable future for…
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Sep
13
2024
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By Abia ThinkTank
We’ve Disbursed N625 Billion To States Through NG-CARES Scheme – FGN

We’ve Disbursed N625 Billion To States Through NG-CARES Scheme – FGN

Economy, FGN, News Flash
We’ve Disbursed N625 Billion To States Through NG-CARES Scheme – FG Federal Government of Nigeria has disclosed that N625 Billion has been given to states through NG-CARES Scheme. Abdulkarim Obaje, the national coordinator of the Nigeria COVID-19 action, recovery and economic stimulus (NG-CARES), says about N625 billion has been disbursed to all 36 states through the scheme. Obaje spoke on Thursday during a peer learning and experience-sharing exercise in Bauchi. The NG-CARES is an initiative of the World Bank and the federal government to support the recovery of communities, households, and businesses affected by COVID-19. Describing the programme as one…
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Sep
12
2024
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By Abia ThinkTank
Gov. Otti Attends 17th Annual Banking And Finance Conference Organized By CIBN At Transcorp Hilton Hotel, Abuja

Gov. Otti Attends 17th Annual Banking And Finance Conference Organized By CIBN At Transcorp Hilton Hotel, Abuja

Abia State, CBN/Commercial Banking, Economy, Good Governance, News Flash
Governor Alex Otti of Abia State attends the 17th Annual Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) at the Transcorp Hilton Hotel in Abuja. On Tuesday September 10th, the Executive Governor of Abia State Dr. Alex Otti attended the 17th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) at Abuja. The event themed 'Accelerated Economic Growth and Development', focused on discussions around Nigeria's economic challenges and exploring strategies for sustainable growth. During the event, Governor Otti presented a goodwill message to the participants and emphasis on…
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Sep
10
2024
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By Abia ThinkTank
FAAC Allocations Rise To N13.7trn 149% In 7 Months

FAAC Allocations Rise To N13.7trn 149% In 7 Months

CBN/Commercial Banking, Economy, FGN, News Flash
FAAC Allocations Rise 149% To N13.7trn In 7 Months The Federation Account Allocations Committee (FAAC) disbursements to the Federal Government (FG), 36 states and 774 local governments (LG) rose by 149.4 percent year-on-year (YoY) to N13.72 trillion in the first seven months (January to July) of 2024, 7M ’24, from N5.5 trillion in the corresponding period of 2023. Details of data from the National Bureau of Statistics, NBS, FAAC report for the review period showed that in 7M ’24, FG received N2.68 trillion, up by 28.2 percent YoY from N2.09 trillion received in 7M’23. States received N2.91 trillion in the…
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Sep
10
2024
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By Abia ThinkTank
The Importance Of Petrol Subsidy Removal – President Tinubu

The Importance Of Petrol Subsidy Removal – President Tinubu

Columns/Opinions/Letters, Economy, FGN, News Flash
Why Petrol Subsidy Removal Is Important – President Tinubu President Bola Tinubu says the removal of subsidy on premium motor spirit (PMS), also known as petrol, is designed to free up budgetary resources for critical investments. Tinubu spoke on Tuesday during the 17th annual Chartered Institute of Bankers of Nigeria (CIBN) banking and finance conference in Abuja. He was represented by Vice-President Kashim Shettima. On May 29, 2023, Tinubu announced the removal of subsidy on petrol — a development that immediately led to a spike in the price of PMS, as well as goods and services. Speaking at the conference,…
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Sep
09
2024
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By Abia ThinkTank
Benue Government Seals Ortom’s Oracle Business Over Tax Default

Benue Government Seals Ortom’s Oracle Business Over Tax Default

Business, Economy, News Flash, Northern Nigeria
Benue Govt Seals Ortom’s Oracle Business Over Tax Default The Benue State Board of Internal Revenue Service (BIRS) weekend sealed off the premises of Oracle Business Limited, owned by former Governor Samuel Ortom over an alleged N93.5 million tax default. Also sealed in the Makurdi operation led by the BIRS acting Chairman, Mr. Sunday Odagba and Board Secretary/Legal Adviser, Mr. Ushahemba Dekaa were Jagshu Filling Station over alleged N2.1millon default and Ubgechi Filling Station also in default of alleged N2.1million. The enforcement was a sequel to an order of a Makurdi High Court empowering the Board to enforce the consequences…
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Sep
06
2024
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By Abia ThinkTank
VP Shettima Summons Petroleum Minister, NNPCL, NSA Ribadu Over Petrol Price Hike

VP Shettima Summons Petroleum Minister, NNPCL, NSA Ribadu Over Petrol Price Hike

Economy, FGN, News Flash, Oil & Gas
VP Shettima Summons Petroleum Minister, NNPCL, NSA Ribadu Over Petrol Price Hike Vice President, Kashim Shettima, on Thursday summoned the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and the Group Managing Director of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. The Vice President also summoned the National Security Adviser, Nuhu Ribadu over the recent hike in the price of Premium Motor Spirit (PMS), otherwise known as petrol. The Vice President is meeting with the trio in his office at the State House, Abuja NNPCL on Tuesday increased the pump price of petrol from ₦568 to ₦855,…
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