Economy - Abia ThinkTank News

Feb

2024

Obu Ohafia Commends Otti For Flagging Off Umuahia-Uzuakoli-Akara-Abiriba-Ohafia Road Reconstruction

Obu Ohafia commends Otti for flagging off Umuahia-Uzuakoli-Akara-Abiriba-Ohafia road reconstruction Obu Ohafia, a socio-cultural organization of the Ohafia people of Abia State, has commended Governor Alex Otti over ongoing reconstruction of 67 kilometre Umuahia-Uzuakoli-Akara Abiriba-Ohafia Road. Otti, who flagged off the road reconstruction on February 7, assured of its speedy completion as three contractors have been mobilized to handle different sections of the road. A statement by Mr Chalrles Kalu, publicity secretary of Obu Ohafia said the governor’s gesture in flagging off the reconstruction of the all-important road is worthy of commendation. The statement reads: “OBU Ohafia wishes to commend…

Feb

2024

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By Abia ThinkTank

Emefiele Claims N25 Billion Damages From Akpabio For ‘Defamatory Remark’

Crime, Economy, News Flash

Emefiele Demands N25 Billion As Damages From Akpabio Over ‘Defamatory Remark’ Godwin Emefiele, immediate-pas governor of the Central Bank of Nigeria (CBN), has demanded the sum of N25 billion as damages from Senate President Godswill Akpabio over an alleged defamatory remark. On Sunday, Akpabio said the allegations against Emefiele are so numerous that the federal government does not know which charges to pin on him. The senate president also blamed the economic hardship in the country on the policies of the former CBN governor. In the letter dated February 19 and seen by TheCable on Wednesday, Matthew Burkaa, counsel to…

Feb

2024

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By Abia ThinkTank

FG Seeks $10Billion To Stabilize Exchange Rate As Naira Continue To Depreciate, Almost N1,900

CBN/Commercial Banking, Economy, FGN

FG Seeks $10 Billion To Stabilise Exchange Rate As Naira Tumbles, Nears N1,900 The Nigerian Federal Government is planning to raise $10bn to improve liquidity in the foreign exchange market. On Tuesday, the naira fell to an all-time low of 1,850 per dollar at the parallel market. President Bola Tinubu, who was represented by Vice President Kashim Shettima, disclosed this at the inaugural Public Wealth Management Conference in Abuja on Tuesday. The Ministry of Finance Incorporated organised the event with the theme “Championing Nigeria’s Economic Prosperity”. In a statement on Tuesday, the Senior Special Assistant to the President on Media…

Feb

2024

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By Abia ThinkTank

“Reform May Be Painful, But It Is What Greatness And The Future Require..” – President Tinubu

Economy, FGN, News Flash

“I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.” “I am different. I am not a man to erect our national home on a foundation of mud. To endure, our home must be constructed on safe and pleasant ground.” “Reform may be painful, but it is what greatness and the future require…” — President Tinubu

Feb

2024

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By Abia ThinkTank

FG To Audit N23 Trillion Ways And Means Debt Accumulated By Buhari Government

CBN/Commercial Banking, Economy, FGN, News Flash

FG To Audit N23 Trillion Ways And Means Debt Accumulated Under Buhari’s Govt The Bola Tinubu-led government has announced plans to thoroughly audit the N23 trillion Ways and Means debt accumulated during the previous administration. The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed the decision during the ongoing Public Wealth Management Conference organized by the Ministry of Finance Incorporated. He said the audit will address and understand the complexities surrounding the substantial debt and pave the way for a more transparent financial system. Edun further revealed that the government would present a bill to the…

Feb

2024

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By Abia ThinkTank

32 Routes Uncovered By FG For Smuggling Food Out Of Nigeria

Crime, Economy, FGN, News Flash

FG Uncovers 32 Routes For Smuggling Food Out Of Nigeria The Federal Government says it has uncovered 32 routes through which food items are smuggled out of Nigeria Vice President Kashim Shettima disclosed this on Tuesday while addressing a conference on Public Wealth Management held in Abuja, the nation’s capital. He said on the midnight of Sunday, 45 trucks loaded with maize were intercepted while making their way to neighbouring countries. The Vice President said, “Just three nights ago, 45 trucks of maize were caught being transported to neighbouring countries. Just in that Ilela axis, there are 32 illegal smuggling…

Feb

2024

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President Tinubu Meets Brazil’s President In Ethiopia

Economy, FGN, News Flash, World News

Tinubu Meets Brazil’s President In Ethiopia President Bola Tinubu met with the President of Brazil, Luiz Inácio Lula da Silva, on the sidelines of the African Union General Assembly in Ethopia. According to a post on the official X handle of the President on Sunday, both leaders discussed ways to enhance trade, commercial and cultural relations between Nigeria and Brazil. The caption read, “President Bola Tinubu had a bilateral meeting with the President of Brazil, where both leaders discussed ways to enhance trade, commercial and cultural relations between Nigeria and Brazil including increasing trade volumes, investing in agriculture and aviation,…

Feb

2024

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By Abia ThinkTank

Lagos To Relocate Computer Village

Business, Economy, News Flash

Lagos To Relocate Computer Village The Lagos State Government is set to relocate the Computer Village from Ikeja to Katangua in the Abule-Egba area. The Special Adviser to the Governor on eGIS and Urban Development, Dr Olajide Babatunde, disclosed this on Saturday, during a joint inspection and enforcement exercise carried out by Lagos State Building Control Agency, in conjunction with some law enforcement agencies and other relevant government agencies in charge of emergency related matters. Babatunde said the Lagos State Government was trying to reorganise markets in the state. He said, “We are trying to reorganise all our markets. I…

Feb

2024

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18 States Attract Zero Foreign Investment In 3 Years (See List)

Columns/Opinions/Letters, Economy, News Flash

18 States Attract Zero Foreign Investment In 3 Year (Full List) Statisense through information gathered from National Bureau of Statistics, NBS, has revealed 18 states without capital Importation between 2021 to 2023. The states, which 85% (11) are from 13 Northeast and Northwest states. No Southwest state in the list as studied by our correspondent. Cross River, Edo and Bayelsa states from South-South, Imo, Enugu and Ebonyi from Southeast also make the list. ZERO FOREIGN INVESTMENT IN 3 YEARS 18 States with no capital importation between 2021 & 2023: 1 ⚫Bauchi2 🟤Bayelsa3 🟠Benue4 ⚫Borno 5 🟤Cross river6 🟢Ebonyi7 🟤Edo8 🟢Enugu…

Feb

2024

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Hardship: Labour Declares 2 Day Nationwide Protest

Labour, Economy, News Flash

Labour Declares Nationwide Protest Over Hardship The leadership of Nigeria Labour Congress (NLC) has declared a two-day nationwide mass protest for February 27 and 28. Joe Ajaero, NLC president, stated this at Labour House, Abuja, during an emergency session, which held on Friday. Ajaero said the decision to protest was taken after the expiration of the 14-day ultimatum earlier issued to the Federal Government over the nationwide hardship. GISTSMATE MEDIA reports that the ultimatum was issued to press the demands for reforms to address the current hardship being faced by Nigerians. The unions accused the Federal Government of failing to…