Economy - Abia ThinkTank News

Mar

2024

Hardship: Only Time Can Define Decisions Of True Leader – President Tinubu

Economy, News Flash, Politics, Presidency

Hardship: Only Time Can Define Decisions Of True Leader – Tinubu President Bola Tinubu has extolled the virtues of the first premier of the western region, Chief Obafemi Awolowo, saying his principles have withstood the tests of time and geography. Just like the late sage, whom he said had been a dependable ally of time, the President identified the power of time to judge fairly, noting that it is only time that defines the tough decisions, character and sacrifices a leader has to take to make a difference. Speaking on Wednesday during the 2024 Obafemi Awolowo Prize for Leadership held…

Mar

2024

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By Abia ThinkTank

We Have Secured $30 Billion In Foreign Direct Investment – President Tinubu

Abuja, Economy, FGN, News Flash

We have secured $30 billion in Foreign Direct Investment - President Tinubu. President Bola Tinubu has mentioned that within the first nine months of his administration, Nigeria has secured $30 billion worth of Foreign Direct Investments to support the country's economy. Tinubu made this statement during the 2023 Leadership Annual Conference and Award held on Tuesday in Abuja. The event, focusing on "An Economy in Distress: The Way Forward", was hosted by the Leadership Group. In a statement delivered by Minister of Information and National Orientation, Alhaji Mohammed Idris on behalf of Tinubu, it was emphasized that the Nigerian economy…

Mar

2024

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By Abia ThinkTank

Tinubu Approves Distribution Of Palliatives To FCT Residents After Attacks On Warehouse

Abuja, Economy, News Flash

JUST-IN: Tinubu Approves Distribution Of Palliatives To Abuja Residents After Attacks On Warehouses After some attacks on warehouses in the city, President Bola Tinubu has directed a fresh round of palliatives to be distributed to residents of the Federal Capital Territory to cushion the effect of the fuel subsidy removal The minister of state for the FCT, Dr. Mariya Mahmoud, made this known on Wednesday during an emergency meeting with stakeholders. Mahmoud stated that the emergency meeting was to arrange some committees for transparency in the distribution of the palliatives. Her words: “Yesterday we received this letter from the Presidency…

Mar

2024

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By Abia ThinkTank

Binance Set To Exit The Nigerian Market, Ceases Provision Of Services In Local Currency.

CBN/Commercial Banking, Business, Economy, News Flash

🚨BREAKING Binance Set To Exit The Nigerian market, Ceases Provision Of Services In Local Currency. ●Details 👇The platform has informed users that any remaining NGN balances will be automatically converted to Tether (USDT) stablecoin after March 8. Users are advised to withdraw, trade their NGN assets, or convert them into cryptocurrency before this deadline. In addition, trading pairs involving NGN and the ability to deposit using NGN will cease temporarily. Moreover, NGN will no longer be a supported payment method across Binance's range of services.

Mar

2024

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By Abia ThinkTank

HOR Call For Arrests Of Binance Executives Over Money Laundering, Naira Crash

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

Reps call for arrest of Binance executives over money laundering, naira crash In a desperate move to rescue the naira, federal lawmakers in the House of Representatives have called for the arrest of the executives of cryptocurrency company, Binance, over alleged economic sabotage. This was the resolution of the House Committee on Financial Crimes during its sitting on Monday, March 4. The lawmakers resolved to recommend that the House invokes its powers to subpoena and arrest executives of Binance following their failure to appear before the committee. Chairman of the committee, Ginger Obinna Onwusibe, said executives of the company were…

Mar

2024

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By Abia ThinkTank

Nigerians Now Opt For Container Houses, Avoiding High Cost Of Cement

Business, Economy, News Flash

High Cost Of Cement: Nigerians Opt For Container Houses As the economic downturn continues, all areas of Nigerian lives and plans are also striving to grapple with the situation, as areas like housing and rent are also being affected. Nigerians are used to building with cement, but now have to go for other alternatives, as the price of cement is now on the high side. Gone are the days when a quarter plot owner who earns N50,000 monthly can hurriedly place one or two blocks on his or her land. The high cost of cement has affected rent and even…

Mar

2024

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By Abia ThinkTank

AGF Asks Labour Ministry To Refund N3.10bn Misappropriated Fund

Economy, FGN, Labour, News Flash

AGF asks Ministry of Labour to refund N3.10bn misappropriated fund The office of the Auditor-General of the Federation (oAuGF), has queried the Federal Ministry of Labour and Employment over N3.106 billion allegedly spent without due process and necessary approval. The query was contained in the non-compliance with extant government regulations in government expenses for the 2020 Audit report submitted to the House of Representatives Committee on Public Accounts chaired by Hon. Bamidele Salam. In its recommendation, the oAuGF who accused the Federal Ministry of Labour of various infractions and failure to show evidence of expenses carried out within the period…

Mar

2024

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By Abia ThinkTank

President Tinubu Sign Multi-Sectoral Agreements With Qatar, Set To Receive Their Investment Team

Economy, Abuja, Business, Foreign Affairs, News Flash

President Tinubu Welcomes, Sign Multi-Sectoral Agreements With Qatar; Set To Receive Qatar’s Investment Team In Abuja President Bola Ahmed Tinubu, and His Highness, Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, on Sunday in Doha, witnessed the signing of historic agreements between both nations, opening a gateway for leveraging the potential of mutual cooperation in pivotal sectors of education, enterprise development, investment promotion, youth empowerment, mining, tourism, and sports Before the signing ceremony at the Qatar Presidential Palace, President Tinubu assured his host of Nigeria’s preparedness to welcome investors into the country, noting the ongoing reforms…

Mar

2024

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By Abia ThinkTank

Bashir Ahmad Commends Gov Otti On His Proposed Collaboration With A Chinese Company For A Light Rail Project

Abia State, Business, Economy, Good Governance, News Flash

Bashir Ahmad, a member of the All Progressives Congress (APC) and former aide to ex-president Muhammadu Buhari, expressed his approval after Abia State Governor, Dr. Alex Otti, announced a collaboration with a Chinese company for a light rail project. In a post on his official X handle, Bashir Ahmad commended Governor Otti for engaging in this partnership, emphasizing its potential to attract more investment opportunities to Abia State. He highlighted the positive impact it could have, enabling the state to compete effectively on a broader scale. Bashir Ahmad's message on his page conveyed admiration for Abia State Governor's decision to…

Mar

2024

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By Abia ThinkTank

President Tinubu Directs Dangote, BUA, Others To Sell Cement At Old Price

Economy, Business, FGN, News Flash

President Tinubu Directs Dangote, BUA, Others To Sell Cement At Old Price President Bola Ahmed Tinubu has directed cement companies to go back to the status quo as regards to the price of the commodity. Minister of Works, Senator David Umahi, revealed this to newsmen shortly after inspecting BUA cement factory in Sokoto on Thursday. The Minister was responding to the Executive Director of BUA group, Alhaji Kabiru, who said they were selling bag of cement at the rate of N6000 as part of their commitment to Mr. President that a bag of cement should not be sold more than…