Economy - Abia ThinkTank News

Jul

2024

Another Promise Kept As Gov Otti Launches N1Billion Interest-Free Revolving Loan To Empower 10,000

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

BREAKING NEWS! Governor Alex Otti OFR, fulfils one of his key Campaign promises as he launched the One Billion Naira Interest-Free Revolving Loan to Empower 10,000 Nano and Small Scale Business Owners across the 184 Wards in the 17 Local Government of Abia State. In the same vein, the Governor also handed over 15 units of 18-seater Innoson Buses to the harmonized Central Taskforce to get Abia rid of touts, ensure cleaner and safer environment for healthy living and ease of doing business in the State. Ctz. Ukoha Njoku UkohaChief Press Secretary to the Executive Governor of Abia State.11-07-2024. goodnewstv.…

Jul

2024

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By Abia ThinkTank

Food Prices To Crash In 180 Days – FGN

Agriculture, Economy, FGN, News Flash

Food Prices To Crash In 180 Days – FG As Nigerians hit the streets to protest hunger, the Minister of Agriculture and Food Security, Sen Abubakar Kyari, Wednesday, disclosed that in 180 days food prices will crash. Kyari stated this on his X (formerly Twitter) handle, where he unveiled measures that will be implemented over the next 180 days. He said: “Our administration has unveiled a series of strategic measures aimed at addressing the high food prices currently affecting our nation. These measures will be implemented over the next 180 days; “150-Day Duty-Free Import Window for Food Commodities •Suspension of…

Jul

2024

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By Abia ThinkTank

Gov Otti To Official Launch Nano And Micro Business Tomorrow Thursday

Abia State, Business, Economy, Good Governance

A Decent and Sustainable Palliative to Support Nano and Micro Businesses to Propel the Economy of the State. Governor Alex Otti's Policies and Programs are deliberate and intentional. It is a Revolving Loan Scheme. If you are not a beneficiary this time, you must certainly benefit in the next rounds. Abia money is for Abia People. The number of beneficiaries has just been upgraded to 10,000. Governor Otti will officially launch the Scheme on Thursday, 11th July 2024.

Jul

2024

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By Abia ThinkTank

How Former CBN Governor Emefiele’s Wife Received Millions In Fraudulent Transfers – Witness

CBN/Commercial Banking, Crime, Economy, News Flash

How Former CBN Governor Emefiele’s Wife Received Millions In Fraudulent Transfers – Witness A witness at the Ikeja Special Offences Court has disclosed how former Central Bank of Nigeria (CBN) Governor Godwin Emefiele transferred millions of naira to his wife, Margaret’s accounts. The witness, an assistant bank manager, Ifeoma Ogbonnaya, on Tuesday, testified that millions were moved in tranches to various companies’ accounts. Emefiele faces trial for abuse of office and alleged $4.5 billion and N2.8 billion fraud. He is facing trial in three courts in Lagos and Abuja, alongside co-defendant Henry Omoile. Prosecutor Rotimi Oyedepo (SAN) led Ogbonnaya in…

Jul

2024

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By Abia ThinkTank

President Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-Backed Loan

Economy, FGN, News Flash, Politics

Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-Backed Loan The President Bola Tinubu-led federal government is seeking an additional $2 billion crude oil-backed loan from international creditors to boost its financial inflow. Sources familiar with the matter disclosed that the loan is being sought to augment the country’s finances, which have been strained in recent times. Reuters reported on Tuesday that the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, confirmed the development, stating that the national oil company is in talks with international creditors to raise an oil-backed credit facility.…

Jul

2024

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By Abia ThinkTank

FGN Removes Tariffs On Rice Importations, Set To Import 500,000 Metric Tonnes Of Maize, Wheat To Tackle Food Inflation

Business, Economy, FGN, News Flash

FG Removes Tariffs On Rice Importation, Set To Import 500,000 Metric Tonnes Of Maize, Wheat To Tackle Food Inflation The President Bola Tinubu-led Nigerian government has announced measures to tackle the skyrocketing food prices nationwide. The Minister of Agriculture and Food Security, Senator Abubakar Kyari, said the measures would be implemented over the next 180 days. “A 150-Day Duty-Free Import Window for food commodities which includes; suspension of duties, tariffs and taxes for the importation of certain food commodities through land and sea borders.” The commodities the government is prioritising to benefit from this include: Maize, Husked Brown Rice, Wheat…

Jul

2024

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By Abia ThinkTank

Dangote Refinery On Track For July Petrol Supply – Official

Business, Economy, News Flash, Oil & Gas

Dangote Refinery On Track For July Petrol Supply – Official The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, has reiterated that the Dangote oil refinery will supply petrol in July as promised. Edwin said this when he took officials of the S&P Global on a tour of the facility over the weekend. According to Edwin, the company aims to catalyse a virtuous cycle of industrial development, job creation, and economic prosperity by harnessing Africa’s abundant crude oil resources to produce refined products locally. He also revealed that “as earlier promised, the company will start the…

Jul

2024

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By Abia ThinkTank

Liberian President Slashes Own Salary By 40%

Economy, International, News Flash, Politics

Liberian President Slashes Own Salary By 40% Liberian President, Joseph Boakai, has announced a voluntary 40 per cent reduction in his salary. This was disclosed in a statement shared on the website of the Liberian Government on Saturday which said the move aligned with Boakai’s commitment to fiscal integrity and national financial security. This is coming days after some lawmakers arrived at the parliament in tricycles popularly known as ‘Keke’ in protest against the non-payment of funds for their vehicles by the Ministry of Finance and Development Planning. Boakai said the announcement reflects his determination to lead by example in…

Jul

2024

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Despite Economic Hardship, Nigerians Will Re-elect Tinubu In 2027 -APC

Columns/Opinions/Letters, Economy, FGN, News Flash, Politics

Despite Economy Hardship, Nigerians Will Re-elect Tinubu In 2027 – APC The All Progressives Congress has expressed conviction that President Bola Tinubu will be re-elected in 2027 despite the economic hardship and planned alliance between mega opposition parties. The lingering economic hardship resulting from ongoing reforms such as fuel subsidy removal and floating of the naira has given rise to palpable fear that Nigerians may vote out Tinubu in 2027. But the Deputy National Organising Secretary of the ruling party, Nze Chidi Duru, in an interview with Sunday PUNCH, said the ongoing reforms had to come into play to steady…

Jul

2024

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By Abia ThinkTank

Food Crisis: 82 Million Nigeria’s May Go Hungry Soon – United Nation Warns

Columns/Opinions/Letters, Agriculture, Economy, News Flash

Food Crisis: 82 Million Nigerians May Go Hungry Soon – UN Warns The United Nations has again predicted that 82 million Nigerians, about 64 per cent of the country’s population, may go hungry by 2030, calling on the government to tackle climate change, pest infestations, and other threats to agricultural productivity. The prediction comes in the wake of a persistent hike in food prices in the country. According to the National Bureau of Statistics, Nigeria’s food inflation rate hit a record high of 40.66 per cent in May 2024, surpassing the previous month’s 40.53 increase. This surge represents the largest…