Economy

Jun
13
2024
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By Abia ThinkTank
Protesters Defy Tight Security, Storm Streets Over Hardship Under Current Tinubu Government

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…
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Jun
13
2024
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By Abia ThinkTank
New National Minimum Wage Ready, Awaiting Legislative Action – President Tinubu

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…
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Jun
13
2024
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By Abia ThinkTank
Benefits Of Tinubu’s Economic Reforms Will Be Felt Soon; Food Distribution Underway- Wale Edun

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…
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Jun
12
2024
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By Abia ThinkTank
Emefiele Printed ‘His Own Naira’, Ignored Design Approved By Buhari – Ex-CBN Director Reveals

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…
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Jun
12
2024
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By Abia ThinkTank
Dangote Refinery Reveals New Date To Kickstart Petrol Supply

Dangote Refinery Reveals New Date To Kickstart Petrol Supply

Business, Economy, News Flash, Oil & Gas
Dangote Refinery Reveals New Date To Kickstart Petrol Supply Dangote Petroleum Refinery and Petrochemicals in Lagos State has moved the supply date for Premium Motor Spirit (PMS) popularly known as petrol from June to mid-July. The President and Chief Executive Officer of the refinery, Aliko Dangote, attributed the postponement to slight delay but assured the public that by second to third week in July, the premium commodity would be in the market. Dangote spoke when he received a Senate delegation led by Senate President Godswill Akpabio, on a tour of the $20 billion facility in Lagos on Sunday. He said,…
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Jun
12
2024
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By Abia ThinkTank
Turkish Investors Visit Gov Otti, Positions ABIA As Hub For Organic Fertilizer Production, Sales

Turkish Investors Visit Gov Otti, Positions ABIA As Hub For Organic Fertilizer Production, Sales

Business, Economy, Good Governance, News Flash
TURKISH INVESTORS VISIT GOV OTTI, POSITIONS ABIA AS HUB FOR ORGANIC FERTILISER PRODUCTION, SALES Abia State Governor, Dr. Alex Otti, OFR, has expressed excitement at the prospect of Abia being the hub for organic fertiliser production in Nigeria. Governor Otti said his administration would do all that is necessary to enable a group of investors from Turkey set up organic fertiliser production plants, which would derive its raw material from the sediments underneath rivers, lakes and swamps, saying that the State is open for business. The Governor spoke on Tuesday when he received the executives of Alliance Enterprises Limited, Turkey,…
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Jun
11
2024
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By Abia ThinkTank
Your Bank Deposits Are Safe – CBN Reassures Nigerians

Your Bank Deposits Are Safe – CBN Reassures Nigerians

CBN/Commercial Banking, Economy, News Flash
Your Bank Deposits Are Safe – CBN Reassures Nigerians The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience. The apex bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi-Ali, gave the assurance in a statement on Monday in Abuja. Sidi-Ali’s statement was a response to concern in some quarters about the stability of some Nigerian banks in the wake of Heritage Bank Plc’s license revocation, She faulted claims that the CBN was considering revoking the operating licences of Fidelity, Polaris, Wema, and Unity Banks. She…
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Jun
11
2024
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By Abia ThinkTank
Petrol Price Can’t Drop As Low As N300/Litre – Major Marketers

Petrol Price Can’t Drop As Low As N300/Litre – Major Marketers

Economy, Business, Oil & Gas
Petrol Price Can’t Drop As Low As ₦300/Litre: Major Marketers Oil marketers under the aegis of the Major Energy Marketers Association of Nigeria (MEMAN), were reacting to a report (Not Channels Television), that the pump price of Premium Motor Spirit, will drop to about ₦300/litre upon the commencement of massive production by the Dangote Petroleum Refinery and other indigenous producers, operators of modular refineries. However, they pointed out that this would be achieved when the government ensured the provision of adequate crude oil to local refiners, stressing that refineries abroad were ripping off Nigeria. “A lot of companies today benefit…
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Jun
10
2024
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By Abia ThinkTank
Nigerian Senate Leadership Visits Dangote Refinery, Fertilizer Plant, Truck Assembling Plant And Ports In Lagos

Nigerian Senate Leadership Visits Dangote Refinery, Fertilizer Plant, Truck Assembling Plant And Ports In Lagos

Business, Economy, National Assembly, News Flash
Nigerian Senate Leadership Visits Dangote Refinery, Fertilizer Plant,Truck Assembling Plant and Ports In Lagos "The impending availability of locally refined petroleum products remains the key to unlocking Nigeria's economic growth", Senator Dr. Ifeanyi Ubah, CON. Lagos, Nigeria - June 7- 9, 2024: The Nigerian Senate leadership, led by Senate President Godswill Akpabio, conducted a three-day visit to Lagos State, inspecting key projects in the oil and gas industry and exploring ways to enhance Nigeria's economic growth. Friday, June 7- Arrival and Presentation at Eko Hotel: The Senate leadership arrived in Lagos on Friday and attended a presentation at Eko Hotel,…
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Jun
09
2024
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By Abia ThinkTank
7th Annual Convention In ABIA: Governor Otti Pledges To Partner With IMSU Alumni Association

7th Annual Convention In ABIA: Governor Otti Pledges To Partner With IMSU Alumni Association

Abia State, Economy, News Flash, South East
7th Annual Convention in Abia: Governor Otti Pledges to Partner with IMSU Alumni Association The Abia State Governor, Dr Alex Otti has promised to partner with the Imo State University Alumni Association (IMSUAA) in ensuring a seamless and successful 7th Annual Convention in Umuahia, the capital of the state. He made this promise while receiving in audience both members of the National Executive Committee (NEC) of IMSUAA led by Barr Okey Ozumba and Local Organizing Committee for the convention at Nvosi, his country home. According to Governor Otti, alumni associations all over the world play a major role in assisting…
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