Economy - Abia ThinkTank News

Dec

2023

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

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

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

2023

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By Abia ThinkTank

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

2023

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By Abia ThinkTank

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

2023

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By Abia ThinkTank

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

2023

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By Abia ThinkTank

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

2023

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By Abia ThinkTank

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…

Nov

2023

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By Abia ThinkTank

Shettima’s Meeting With Dangote, Elumelu, Others, Details Emerge.

Abuja, Economy, News Flash, Presidency

Details Of Shettima’s Meeting With Dangote, Elumelu, Others Emerge The details of the meeting between Vice President, Kashim Shettima, and some notable Nigerians held at the Presidential Villa in Abuja have emerged.In a statement on Monday by the spokesman of the vice president, Stanley Nkwocha, the purpose of the meeting was to address the country’s Human Capital Development (HCD) problem. Nwokcoha said to address the problem in the nation, a multi-sectoral committee was set up and made up of the Federal and State governments as well as donors and partners. He said the HCD programme was launched by the National…

Nov

2023

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By Abia ThinkTank

Why I Approved Naira Redesign Policy – Buhari confessed

Economy, News Flash, Politics

Why I Approved Naira Redesign Policy – Buhari Opens Up Former President Muhammadu Buhari says approving the naira redesign policy was a way to ensure his “integrity became unquestionable”. The immediate-past president spoke in an interview with NTA — his first since handing over the reins of the nation’s leadership to President Bola Tinubu in May. With Buhari’s backing, the central bank announced its plans to redesign and circulate a new series of three banknotes out of the existing eight, in October 2022. The redesigned N200, N500, and N1000 notes were due for circulation on December 15, 2022; while the…