Economy - Abia ThinkTank News

Jul

2024

EFCC Arrests 10 Suspected Illegal Miners In Oyo

EFCC Arrests 10 Suspected Illegal Miners In Oyo (See Names) Operatives of the Economic and Financial Crimes Commission on Monday arrested ten suspected illegal miners in Ogbomoso, Oyo State. The suspects are Yunusa Adisa, Ganiyu Kazeem, Muideen Babayemi, Sulaiman Usman, Adeleke Waliu, Tiamiyu Rokeeb, Olusola Sunday, Oyedokun Oluwagbemiga, Sulaimon Ishiaq, and Olufimihan Eniola. A statement on Monday by the EFCC’s spokesperson, Dele Oyewale, said the suspects were arrested with six trucks fully loaded with lithium. He added that the suspects would be arraigned in court after an investigation into the matter. Oyewale said, “Operatives of the Ibadan Zonal Directorate of…

Jul

2024

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By Abia ThinkTank

Abort Planned Protest, We’ve Everything In Place To Alleviate Hardship – FGN Tells Nigerians

Economy, FGN, News Flash, Politics

Abort Planned Protest, We’ve Everything In Place To Alleviate Hardships – FG Tells Nigerians President Bola Tinubu has called on Nigerians to abort their planned protests, as everything is in place to alleviate hardships. Speaking at a National Council of Traditional Rulers meeting in Abuja on Monday, 22nd July, 2024, Tinubu, represented by Secretary to the Government of the Federation George Akume, emphasised the need for patience and support during this critical period. Tinubu criticised individuals capitalizing on the nation’s economic difficulties to incite protests. He stressed that, rather than engaging in demonstrations, Nigerians should show patience and commitment to…

Jul

2024

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By Abia ThinkTank

Oil Minister Lokpobiri Meets Dangote, NNPCL, NMDPRA, NUPRC Chiefs To Resolve Oil & Gas Issues

Economy, FGN, News Flash, Oil & Gas

Oil Minister Lokpobiri Meets Dangote, NNPCL, NMDPRA, NUPRC Chiefs To Resolve Issues Nigeria’s Oil minister Heineken Lokpobiri has met with Aliko Dangote and chiefs of NNPC Limited, NMDPRA and NUPRC to resolve the issues stirred by Dangote Refinery. Lokpobiri, in a statement on his X handle on Monday said he convened a high-level meeting with top executives from Dangote Group, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Corporation Limited (NNPC) to address the ongoing issues surrounding the Dangote Refinery. Lokpobiri, who is the Minister of State…

Jul

2024

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By Abia ThinkTank

Gov Otti’s Speech At The Official Launch Of The ABIA State Cooperative Support Scheme

Abia North, Economy, Good Governance, News Flash

DREAMS ARE THE NEW CAPITAL Being the Text of a Speech Delivered by Gov. Alex C. Otti, OFR, During the Official Launch of the Abia State Cooperative Support Scheme, and Disbursement of Credit Facilities to 10, 000 Nano and Micro Businesses Drawn from the 184 Wards in the State on Thursday, July 11, 2024 at the International Conference Centre, Umuahia Protocols, Let me with a great sense of fulfilment, welcome you to this very important event which marks yet another milestone in the community-oriented economic rejuvenation agenda of the present administration. The Abia State Cooperative Support Scheme represents the practical…

Jul

2024

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By Abia ThinkTank

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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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…