Economy - Abia ThinkTank News

Mar

2024

PH Refinery Resumes Operations April, Gets 450,000 Barrels Crude

Economy, News Flash, Oil & Gas, South South

PH Refinery Gets 450,000 Barrels Crude, Resumes Operations April The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the Port Harcourt refinery will commence operations in about two weeks time. According to Kyari, mechanical works have been completed on the Port Harcourt, Warri, and Kaduna refineries, stressing that the Kaduna refinery will commence operations in December. Kyari made this known in a press briefing after he appeared before Senate Ad-hoc Committee investigating the various Turn Around Maintenance projects of the country’s refineries. He said, “We are serving this country with honour and dignity. And…

Mar

2024

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By Abia ThinkTank

U.S. Court Gives Fresh Orders To Finance Founder Money Laundering Charges

CBN/Commercial Banking, Crime, Economy, News Flash, World News

U.S. Court Gives Fresh Orders To Binance Founder Over Money Laundering A U.S. district court has ordered that Binance founder Changpeng Zhao must surrender his Canadian passport and notify the court before travelling within the country. This comes after U.S. District Judge, Honorable Richard A. Jones restricted the bond conditions of Binance founder. The court ordered the businessman to surrender all valid and expired passports. The documents are to be transferred to a person his lawyers will hire, who will accompany the Binance founder on all trips where a passport may be needed. He must also notify the relevant authorities…

Mar

2024

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By Abia ThinkTank

Tinubu’s Cataclysmic Presidency And Its Many Danger Signals – By Dr. Engr Odo Ijere (Okpotemba Ohafia)

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

TINUBU'S CATACLYSMIC PRESIDENCY AND ITS MANY DANGER SIGNALS. No one needs to be told that the nation of Nigeria has finally landed itself in a precipice of chaos and pandemonium. The danger signals are rife and undeniable. The lower limits of suffering has reached its irreducible minimum boundary conditions. Anything can snap and trigger the apocalypse long foretold and long awaited. We're indeed in real trouble. There is frustration everywhere now with the nation attaining its worst bedlam of crisis since constitutional democracy returned in 1999. The truth is that Tinubu's government was negotiated as a sinking ship where he…

Mar

2024

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By Abia ThinkTank

N30 Trillion Ways And Means Payment: Akpabio Charge Adhoc Committee To Go After Everyone

CBN/Commercial Banking, Economy, National Assembly, News Flash

Payment Of N30 Trillion Ways And Means: Go After Everyone, Akpabio To Ad-hoc Committee The President of the Senate, Senator Godswill Akpabio has charged the Committee members investigating the payment of N30 trillion “Ways and Means” secured from the Central Bank of Nigeria, CBN by the immediate past government in the last 10 years not to leave any stone unturned as they must go after those involved. Speaking on Monday in Abuja while inaugurating the 17- member ad-hoc Committee that is probing the humongous N30 trillion ‘Ways and Means’, which was released as loan to the Federal Government during the…

Mar

2024

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By Abia ThinkTank

President Tinubu Directs States To Implement Wage Award

Abuja, Economy, Labour, News Flash

Tinubu Directs States To Implement Wage Award President Bola Ahmed Tinubu has appealed to state governors to start paying the wage awards pending the determination of the new minimum wage to reduce the hardship of the economy on the people. The president implied that if the states had implemented the wage awards, it would provide much-needed relief without causing inflationary pressures. Speaking in Minna at the flag-off of the agricultural mechanization revolution for food security and the commissioning of the remodeled domestic terminal of the Bola Ahmed Tinubu International Airport in Minna, the President stated that all states need to…

Mar

2024

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By Abia ThinkTank

President Tinubu To Launch Students Loan Scheme Thursday – Presidency

Abuja, CBN/Commercial Banking, Economy, Education, News Flash

Tinubu To Launch Students Loan Scheme Thursday — Presidency President Bola Tinubu will launch the Student Loan Scheme on Thursday, March 14, 2024. The Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, disclosed this when he spoke on TVC’s Politics on Sunday monitored by PUNCH Online. On the programme titled ‘Counting the Cost of Presidents Tinubu’s Reforms,’ Ngelale highlighted some of the President’s welfare initiatives being implemented at the moment, saying, “Later this week, on Thursday, the President will launch the historic National Student Loan Programme.” “This is a major form of obligation reduction for Nigerians…

Mar

2024

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By Abia ThinkTank

Hardship: Return All Seized Food Items To Owners – Tinubu Orders Nigerian Customs

Economy, FGN, News Flash

Hardship: Return Seized Food Items To Owners – Tinubu Orders Customs President Bola Tinubu has ordered the Nigeria Customs Service, NCS, to give back the food items they seized at the border communities to the rightful owners, with the requirement that the items should be sold in Nigerian markets. The Controller-General of Customs, Adewale Adeniyi, disclosed this in Katsina on Saturday while meeting with people from border areas at Kongolam and Mai’Adua border stations. He mentioned that Tinubu had made a decision to use his authority not based on legal guidelines, “but rather reflecting the deep sense of generosity he…

Mar

2024

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By Abia ThinkTank

Economic Hardship: 80-Year-Old Man Commits Suicide In Lagos

Crime, Economy, Gossips, Obituary

80-Year-Old Man Commits Suicide In Lagos AttNews reports that an 80-year-old man, Isiyaka Ayinde, has reportedly committed suicide at the Watch Tower in the Araromi Imota area of Lagos State. The incident occurred on Thursday, March 7. The deceased hung himself with a rope in the kitchen. The state Police Public Relations Officer, Benjamin Hundeyin, confirmed the tragic incident. He said: “The scene has been visited by the DCB personnel of the division, and photographs were taken. “The family of the deceased is not interested in depositing the body at the mortuary but rather prefer burying the corpse immediately as…

Mar

2024

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By Abia ThinkTank

Nigeria Back On Track Economically – Tony Elumelu Hails MPC Decision

CBN/Commercial Banking, Columns/Opinions/Letters, Economy, News Flash

Nigeria back on track economically – Tony Elumelu hails MPC decision Tony Elumelu, the Chairman of the United Bank for Africa (UBA), has asserted that Nigeria is moving in the right economic direction, citing the decisions made by the Central Bank of Nigeria (CBN) at its recent Monetary Policy Committee (MPC) meeting on February 27. During the meeting, the CBN implemented a tightening policy by raising the Monetary Policy Rate (MPR) by 400 basis points, elevating it from 18.75 per cent to 22.75 per cent. In an interview on Thursday, the business magnate expressed cautious optimism, stating that Nigeria is…

Mar

2024

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By Abia ThinkTank

FGN Inaugurates Committee For Implementation Of The Oronsaye Reports

Abuja, Economy, FGN, News Flash

The Federal Government has inaugurate the Committee to oversee the implementation of the suggestions put forward in the Oronsaye reports and White Papers concerning the reorganization and streamlining of Federal Government parastatals, agencies, and commissions. Members of the Committee are: SEN. GEORGE AKUME, FNIM, CON - Secretary to the Government the Federation LATEEF OLASUNKANMI FAGBEMI, SAN - Attorney General of the Federation/ Minister of Justice SEN. ABUBAKAR ATIKU BAGUDU, CON - Minister of Budget & Economic Planning DR. FOLASHADE YEMI-ESAN, CFR - Head of the Civil Service of the Federation USMAN HADIZA BALA - Special Adviser to the President, Policy…