Economy - Abia ThinkTank News

Dec

04

2023

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By Abia ThinkTank

FGN Announces Disbursement Of N150 Billion Grants And Loans To Business Owners, List Conditions

CBN/Commercial Banking, Economy, News Flash

FG Announces Disbursement Of N150 Billion Grants And Loans To Business Owners, Lists Conditions The federal government has announced the disbursement of N150 billion small grants and loans to business owners in Nigeria. The two disbursement programmes are the Presidential Conditional Grant and the Presidential Palliative Loan. The programmes, according to a statement signed by the Minister for Industry, Trade and Investment, Dr Doris Uzoka-Anite, are targeted at alleviating the impact of the fuel subsidy removal which came into effect on June 1. The statement reads: “In the Presidential Conditional Grant Programme, the Federal Government will disburse a grant sum…

Dec

03

2023

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By Abia ThinkTank

President Tinubu Travelled With Over 1400 Delegates On Multi Billion-Naira Junket To Dubai COP-28 Conference

Economy, FGN, News Flash, Presidency

President Tinubu takes over 1,400 delegates on multibillion-naira junket to Dubai COP-28 conference Barely a year after condemning the proposed emission cut to Nigeria and other African countries, President Bola Tinubu this week travelled to the United Arab Emirates for a climate summit with over 1,400 delegates from Nigeria. According to the United Nations, this year’s Conference of the Parties will be held from November 30 to December 12 in Dubai, United Arab Emirates. The body released a list of participants from Nigeria who would be taking part in the event, which ranged from people in the president’s office to…

Dec

03

2023

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2024 Budget Lacks Transparency In Project Selection – Senator Ned Nwoko

Columns/Opinions/Letters, Economy, National Assembly, News Flash

2024 Budget Lacks Transparency In Project Selection – Ned Nwoko The senator representing Delta North, Ned Nwoko, has said the 2024 budget presented by President Bola Tinubu last week lacks transparency in selection of projects to be executed. According to Nwoko, transparency and internal revenue generation are deficient in the budget. Nwoko, while speaking to journalists on the principles of the budget, said the 2024 budget proposal brought forth profound concerns and reservations regarding its potential to truly address the pressing needs of the Nigerian populace. “The budget, as presented, failed to adequately address critical facets necessary for the welfare…

Dec

03

2023

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By Abia ThinkTank

2024 Budget: Ex-Presidents, Former VPs, Others Get N13.8 Billion Upkeep Allowance

FGN, Economy, News Flash, Politics

Budget: Ex-presidents, former VPs, others get N13.8bn upkeep allowance The Federal Government has earmarked a total of N13,805,814,220 for the upkeep of former presidents, vice-presidents, heads of state, Chiefs of General Staff, retired heads of service, permanent secretaries, as well as retired heads of government agencies and parastatals in the 2024 fiscal year. The beneficiaries include former Presidents Olusegun Obasanjo, Goodluck Jonathan and Muhammadu Buhari, as well as ex-vice-presidents Atiku Abubakar, Namadi Sambo and Prof Yemi Osinbajo. Also expected to benefit from the windfall are ex-military Heads of State, General Yakubu Gowon and General Abdusalami Abubakar, as well as a…

Dec

02

2023

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By Abia ThinkTank

New Minimum Wage Regime To Start April 1st, 2024 – Presidency

Abuja, Economy, News Flash, Presidency

💥BREAKING UPDATE ON THE NEW MINIMUM WAGE : ●A New Minimum Wage Regime Would Come Into Effect On April 1st 2024 As The Current N30k Minimum Wage Regime Ends. ●The Federal Government And Labour Unions Have The Next 4 Months (December, January , February And March) To Deliberate On A New Minimum Wage. ●The New Minimum Wage Would Be An Increased Amount That's Left For Fed Govt And Labour Unions To Decide. ●The Nigerian Senate Are Ready To Support A New Minimum Wage Bill. SPECIAL ADVERT PROMO FOR 2023 IGBA-OTOMU, IGBA-UCHE, IGBA-EKPE, IZU-UCHE, IGBOTONMA AND IZA-AFA This is a special…

Dec

02

2023

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FG Targets Production Of 31 Million Metric Tones Of Grain In 2024

Economy, FGN, News Flash

FG Targets Production Of 31 Million Metric Tones Of Grain in 2024 The federal government through the Ministry of Agriculture has stated that it hopes to produce around 31 million metric tonnes of grains in 2024 as part of efforts to combat food inflation across the country and address President Tinubu’s food security emergency. The Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi stated this during the opening session of the 6th edition of Seed Connect Conference and Exhibition with the theme ‘’ Global Declaration of Food Emergency – The Role of the Seed Industry…

Dec

01

2023

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We Are Deliberate About Using Sports To Unite, Develop Our People, Grow Our Economy – Gov Otti

Abia State, Economy, News Flash, Sports

WE ARE DELIBERATE ABOUT USING SPORTS TO UNITE, DEVELOP OUR PEOPLE, ECONOMY - GOV OTTI Abia State Governor, Dr. Alex Otti, OFR, has stated that his government is deleberate about using sports to unite the people as well as grow the economy of the State. Governor Otti stated this during the week while receiving a delegation of Sports Nigeria, a private sector driven initiative, aimed at bringing government and the private sector together to harness talents and develop sports infrastructure in Nigeria. "We are very deliberate about using sports to unite our people who could support our economy and also…

Nov

30

2023

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2024 Budget: I Promise You Recovery Is Here – President Tinubu Assures Nigerians

Abuja, Economy, News Flash

2024 Budget: I Promise You Recovery Is Here – Tinubu Assures Nigerians President Bola Tinubu has assured Nigerians that the nation’s recovery from economic challenges has come, saying the 2024 budget will set Nigeria on a transformative path towards economic growth and development. President Tinubu gave this assurance while the 2024 appropriation bill was before a joint session of the National Assembly in Abuja on Wednesday. He said, “I have no doubt that this will be in the interest of Nigerians. As a government, we are committed to improving the lives of our people and delivering on our promises to…

Nov

27

2023

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Emefiele Pumped N10tn Into Economy Through Quasi-Fiscal Activities – Cardoso

CBN/Commercial Banking, Economy, News Flash

Emefiele pumped N10tn into economy through quasi-fiscal activities – Cardoso The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the apex bank will be asking Deposit Money Banks to increase their capital base in order to service the $1tn economy projected by President Bola Tinubu. This is as he noted that he knew that there was much work to be done in the way the apex bank ran its operations, adding that he would need the collaboration of all stakeholders. CBN Governor, Yemi CardosoSpeaking on Friday at the 58th Annual Dinner of the Chartered Institute…

Nov

22

2023

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House Of Reps Okay MTEF, N7.8tn Borrowing Plans For 2024

Abuja, Economy, National Assembly, News Flash

Reps Okay MTEF, N7.8tn Borrowing Plans For 2024 The House of Representatives, on Tuesday, approved the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), with a borrowing plan of N7.8 trillion for 2024. For 2024, 2025, and 2026, the House set benchmark oil prices of $73.96, $73.76, and $69.90 per barrel, respectively. Also, the House set benchmark daily crude oil production levels of 1.78 Mbps, 1.80 Mbps, and 1.81 Mbps. As agreed by the Green Chamber for 2024–2026, the executive’s proposed exchange rate is N700, N665.61, and N669.79 to $1. The inflation rates of 21.40 per cent in…