Economy - Abia ThinkTank News

Jun

2024

Stop Buying Presidential Jets, Focus On Alleviating Suffering – Peter Obi Slams FGN

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

Focus On Alleviating Suffering, Not Buying Presidential Jets – Obi Slams FG The Labour Party Presidential flag bearer, Peter Obi, on Monday, faulted the Federal Government for contemplating adding new aircraft to the existing Presidential fleet. Three days ago, the House of Representatives Committee on National Security and Intelligence mandated the FG to buy new aircraft for President Bola Tinubu and Vice-President Kashim Shettima. The committee’s recommendation was contained in a report released after it investigated the status of the aircraft in the presidential air fleet. The recommendation comes a few months after three planes from the Presidential Air Fleet…

Jun

2024

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By Abia ThinkTank

Why Labour Should Review Stance On Minimum Wage – Committee

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

Why Labour Should Review Stance On Minimum Wage — Committee The Tripartite Committee on National Minimum Wage has given reasons why organised labour should rethink the amount it demands as minimum wage. The chairman of the committee, Goni Aji, in Abuja on Sunday said that the labour should reconsider its stance based on economic considerations and non-monetary incentives which the Federal Government had so far provided for workers. He listed such incentives to include the N35,000 wage award for all treasury-paid federal workers, N100 billion for the procurement of gas-fuelled busses and conversion to gas kits. Others include the N125…

Jun

2024

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By Abia ThinkTank

Minimum Wage: I’ll Approve What Nigeria Can Afford – President Tinubu

Economy, Labour, News Flash

Minimum wage: I’ll approve what Nigeria can afford – Tinubu President Bola Tinubu has said that he would approve a new minimum wage that the government can afford. The President said this on Wednesday at a dinner to mark Nigeria’s 25 years of unbroken Democracy in Abuja. Tinubu thanked those who stood by him over the years, promising Nigerians that he won’t depart from the tenets of democratic governance. “I have to celebrate with you my dear brother, Senate President, Deputy Senate President,” he said, adding that Senate President Godswill Akpabio and his deputy, Jibrin Barau would soon get an…

Jun

2024

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By Abia ThinkTank

Nigeria Is Poor, Elected Officials Should Earn Minimum Wage – Soludo

Columns/Opinions/Letters, Economy, News Flash

Nigeria Is Poor, Elected Officials Should Earn Minimum Wage – Soludo Governor of Anambra state, Charles Soludo has called for elected officials to start earning minimum wage, highlighting the urgent financial crisis facing Nigeria. Speaking on Wednesday at a special edition of The Platform, an event organized by The Covenant Nation to promote national development, Soludo emphasised that Nigeria is financially strained. The event coincided with the celebration of Nigeria’s 25 years of uninterrupted democracy. Soludo pointed out that Nigeria’s economic woes are exacerbated by the extravagant lifestyles of government officials, which are sustained at the expense of the nation’s…

Jun

2024

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By Abia ThinkTank

There’s Hunger, New Anthem Not Priority – Makinde

Economy, News Flash, People Reorientation

There’s Hunger, New Anthem Not Priority – Makinde Amidst the growing economic challenges facing Nigeria, Governor Seyi Makinde of Oyo State has decried the Federal Government’s recent re-introduction of old national anthem, calling for a shift in priorities towards addressing pressing issues such as hunger and poverty. Makinde, who blasted the decision yesterday as “a waste of time and resources,” stated that “the return of old national anthem shouldn’t be our priority when so many Nigerians are suffering.” Makinde maintained that the country must prioritise economic development, saying there could not be production without mobilisation. According to the governor, the…

Jun

2024

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By Abia ThinkTank

World Bank Approves $2.25bn Loan For Nigeria

CBN/Commercial Banking, Economy, FGN, News Flash

World Bank Approves $2.25bn Loan For Nigeria Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy announced Thursday night the approval of two major financial support packages by the World Bank. The loans are part of President Tinubu’s ongoing efforts to stabilise the economy, reposition it for sustained and inclusive growth, and provide urgent support to the poor and vulnerable, the minister said. “We have undertaken bold and necessary reforms to restore macroeconomic stability and put Nigeria on a path to sustainable and inclusive economic growth. We welcome the support of the RESET and ARMOR programs as…

Jun

2024

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By Abia ThinkTank

Protesters Defy Tight Security, Storm Streets Over Hardship Under Current Tinubu Government

Economy, Environment, FGN, News Flash, Politics

Protesters Defy Tight Security, Storm Streets Over Hardship Under Current Govt A large group of protesters have converged on the Ikeja Underbridge in Lagos, in protest of the present living conditions in the country. The protesters, comprising various civil society groups, were met with a heavy security presence, as policemen and officials of the Lagos Neighbourhood Safety Corps were deployed to maintain order. The protesters chanted solidarity songs and wielded placards and banners with inscriptions such as: “President Tinubu, let the poor breathe”, “For another general strike with mass protest now”, and “Payment of living wage to all Nigerian workers…

Jun

2024

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By Abia ThinkTank

New National Minimum Wage Ready, Awaiting Legislative Action – President Tinubu

FGN, Economy, National Assembly, News Flash

New National Minimum Wage Ready, Awaiting Legislative Action – Tinubu President Bola Tinubu has revealed that a consensus has been reached on the long-debated new minimum wage between the Federal Government and organised labour. In his national broadcast to mark the 2024 Democracy Day in Abuja on Wednesday, Tinubu revealed that an executive bill will soon be sent to the National Assembly to formalise the new minimum wage Agreement He stated, “In this spirit, we have negotiated in good faith and with open arms with organised labour on a new national minimum wage. “We shall soon send an executive bill…

Jun

2024

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By Abia ThinkTank

Benefits Of Tinubu’s Economic Reforms Will Be Felt Soon; Food Distribution Underway- Wale Edun

FGN, Economy, News Flash, Presidency

Benefits Of Tinubu’s Economic Reforms Will Be Felt Soon; Food distribution Underway – Wale Edun Wale Edun, minister of finance and coordinating minister of the economy, says the country’s economy has been revamped and Nigerians will soon feel the benefits. Edun spoke in an interview with Arise on Wednesday during the celebration of Nigeria’s Democracy Day at the Eagle’s Square, Abuja. He said better days are ahead under President Bola Tinubu’s leadership as the country is set to witness substantial economic progress. “There is hope for better days to come. We are on the right track. We have turned the…

Jun

2024

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By Abia ThinkTank

Emefiele Printed ‘His Own Naira’, Ignored Design Approved By Buhari – Ex-CBN Director Reveals

CBN/Commercial Banking, Economy, News Flash

Emefiele Printed ‘His Own Naira’, Ignored Design Approved By Buhari – Ex-CBN Director Reveals A former Central Bank of Nigeria (CBN), director of currency operations, Ahmed Umar, has disclosed that the immediate past governor, Godwin Emefiele, printed his own design of the naira. The Nation reported that the Economic and Financial Crimes Commission (EFCC) on May 15, arraigned Emefiele on a four-count charge before Justice Maryanne Anenih of the FCT High Court. Emefiele, however, denied the charge and was admitted to bail in the sum of N300 million. However, Umar while giving evidence at the Federal Capital Territory, FCT, High…