Economy - Abia ThinkTank News

Jul

2024

Governor Bago’s Motivational Offers To Corp Members Posted To Niger State

Education, Economy, Empowerment, Labour, News Flash

Governor Bago's gift to Nigercorp members todaySum of N200,000 each 20 cows One trailer of rice 5 billion for construction of new campAlso promised N500,000monthly for those want to venture into Agriculture Automatic employment for medical doctors and others in health field inNiger State. A reminder that he is leading in Agriculture and Rural Development. Don't let your governors lie to you. Everything is possible if they want to do it.

Jul

2024

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By Abia ThinkTank

Dangote, Elumelu, Rewane Enlisted As Tinubu Inaugurates Economic Team

Economy, FGN, News Flash

Dangote, Elumelu, Rewane Enlisted As Tinubu Inaugurates Economic Team President Bola Tinubu on Thursday inaugurated the Presidential Economic Coordination Council (PECC) tasked with strategising a way out of the current economic situation in the country. The Council has a mix of government officials, top private sector players, and consultants including President of the Dangote Industries Limited, Mr Aliko Dangote; Chairman of the United Bank of Africa, Mr Tony Elumelu; and Chief Executive Officer of the Financial Derivatives Company Limited, Bismarck Rewane. Briefing State House Correspondents after the Inauguration of the Council, Minister of Finance and Coordinating Minister of the Economy,…

Jul

2024

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By Abia ThinkTank

FGN Imposes 7.5% VAT On Cryptocurrency Transactions

Economy, CBN/Commercial Banking, FGN, News Flash

FG Imposes 7.5% VAT On Cryptocurrency Transactions The Federal Government has imposed a 7.5 percent Value Added Tax(VAT) on cryptocurrency transactions. This development was made known after KuCoin; a cryptocurrency exchange, says it will commence collection of the transaction fees for users in Nigeria. In a statement on July 3, the cryptocurrency platform said the deduction of the VAT would commence from July 8 and that for every trade, the 7.5 percent VAT will be applied to the transaction fee — not the total transaction amount. According to KuCoin, if a user buys $1,000 worth of bitcoin with a 0.1…

Jul

2024

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By Abia ThinkTank

Governor Gives Condition For Payment Of New Minimum Wage

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

Governor Gives Condition For Payment Of New Minimum Wage The Ekiti State governor, Biodun Oyebanji, has said that no governor is against approval of a living wage for workers in Nigeria. Oyebanji said the Nigeria Governors’ Forum (NGF) was only clamouring for fiscal federalism that would culminate in the ability and capability of individual states to pay. Speaking in Ado-Ekiti on Wednesday, during the Seventh Quadrennial Delegates’ Conference of the Association of Senior Civil Servants of Nigeria, Oyebanji said no state wanted to downsize its workforce. He added that each state was interested in determining what it could afford that…

Jul

2024

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By Abia ThinkTank

State Of Emergency On Crude Oil Production By NNPC

Business, Economy, News Flash, Oil & Gas

NNPCL Declares State Of Emergency On Crude Oil Production .The Nigerian National Petroleum Company Limited (NNPCL) has declared a state of emergency on crude oil production. According to NNPCL, it is a move towards increasing Nigeria’s crude oil production and growing its reserves. This was contained in a statement by the Chief Corporate Communications Officer of NNPCL, Olufemi O. Soneye, on Tuesday, July 2. The statement reads: “In a move towards increasing Nigeria’s crude oil production and growing its reserves, NNPC Ltd has declared a state of emergency on production in Nigeria’s oil and gas industry. “Group Chief Executive Officer…

Jul

2024

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By Abia ThinkTank

Corruption: I’m Surprised Nigeria Is Still Surviving – EFCC Chairman

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

Corruption: I Wonder How Nigeria Is Still Surviving – EFCC Chairman The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has decried the magnitude of stealing by corrupt elements in the country. He said anytime he checks case files and sees the amount stolen, he wonders how the country still exists, adding that if Nigerians saw some case files they would weep. According to a statement on Tuesday by the EFCC’s Head of Media and Publicity, Dele Oyewale, the chairman stated this while receiving the management team of the Revenue Mobilisation Allocation and Fiscal Commission led by its…

Jul

2024

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By Abia ThinkTank

President Tinubu Appoints Board For Family Home Fund

Economy, FGN, News Flash, Politics

Tinubu Appoints 10-member Board For Family Home Fund President Bola Tinubu has approved the appointment of a chairman and nine members of the board of the Family Homes Funds Limited. Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, disclosed this in a statement signed Tuesday, titled ‘President Tinubu appoints new board of the family home fund.’ The committee members include Mr Demola Adebise (Board Chairman), and Mr Abdul Muttalab, who was appointed Chief Executive Officer/Managing Director by former President Muhammadu Buhari in January 2023. Others are Mr Abdullahi Musa (Executive Director, Finance) and Mr. Emeka Inegbu (Executive Director, Operations).…

Jul

2024

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By Abia ThinkTank

Nigerian Rakes In Millions For Returning $14,000 Erroneously Credited To Him

Business, Economy, Gossips, News Flash

Nigerian Man Who Returns $14,000 Sent To Him As Giveaway Rakes In Million A Nigerian youth, Anjola Femi, who returned a sum of $14, 000 (over 21 million) mistakenly credited to his account by a foreign crypto trader has been gifted with financial rewards from the crypto community. As of the time of filing this report, Anjola has been rewarded with over N7.5 million by netizens who were thrilled by his gesture of returning the $14k mistakenly credited to his account. The excited chemical engineering graduate flaunted his crypto wallet, on Tuesday, showing the influx of credit alerts into his…

Jul

2024

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By Abia ThinkTank

Labour Sends New Message To Tinubu’s Government Over Minimum Wage

Economy, FGN, Labour, News Flash, Politics

“What We Want to Hear”: Labour Sends New Message To Tinubu's Govt Over Minimum Wage President of Nigeria Labour Congress (NLC), Joe Ajaero, has accused the federal government of hiding under the state governors. Ajaero said the delay in submitting the new minimum wage proposal to the National Assembly shows that the government has not put its house in order. He said any governor that cannot pay the new minimum wage, when it becomes effective, should resign. President of Nigeria Labour Congress (NLC), Joe Ajaero, said what organized labour wants to hear is that the federal government want to consult…

Jul

2024

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By Abia ThinkTank

Nigeria Customs Intercepts Container Of Arms Including 844 Riffles Worth N4Billion At Onne Port

Crime, Economy, News Flash, Security

Customs Intercepts Container Of Arms Including 844 Rifles Worth N4Billion At Onne Port The Nigeria Customs Service has intercepted a container from Turkey containing 844 rifles and 112,500 pieces of live ammunition. The service arrested three suspects who are currently in custody, and a thorough investigation is ongoing to ensure all those involved face the full wrath of the law, the NCS said. The container, which was subjected to a physical examination on June 21, 2024, was found to have the following contents. Briefing journalists at Onne Port, Rivers State on Monday where the items were seized, the Comptroller General…