Economy

Jan
18
2024
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By Abia ThinkTank
Gov Otti Inaugurates Abia State Global Economic Advisory Council

Gov Otti Inaugurates Abia State Global Economic Advisory Council

Abia State, Economy, Good Governance, News Flash
PRESS RELEASE:. INAUGURATION OF THE ABIA STATE GLOBAL ECONOMIC ADVISORY COUNCIL. Abia State Governor, Dr. Alex Otti, OFR, has announced the constitution of the Abia Global Economic Advisory Council (AGEAC) as part of his administration's strategic plan to ensure the overall economic development of the state.Consequently, Governor Otti has appointed 20 distinguished Nigerians with global acclaim to serve on the Council, aimed at building Abia into a self-sustaining economic hub.Those appointed are: Ms. Arunma Oteh, OON – Co-Chair His Highness Khaleefa Muhammad Sanusi II, CON, Co-Chair Mr. Bolaji Balogun - Co-Chair Mr. Victor Onyenkpa – Member Mrs. Ifueko Omoigui Okauru,…
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Jan
17
2024
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By Abia ThinkTank
$8.9 Million Looted Under Jonathan Regime To Be Returned By US

$8.9 Million Looted Under Jonathan Regime To Be Returned By US

Crime, Economy, International
US To Return $8.9 Million Looted Under Jonathan To Nigeria A Royal Court in Jersey, United States, has reportedly ruled that stolen assets worth £6.9m ($8.9m) be repatriated to Nigeria. The said assets were allegedly diverted by Nigerian government officials in 2014 under the guise of purchasing arms to fight Boko Haram terrorists. According to BBC, the court ruled that the money, deposited in a Jersey bank account, was likely stolen by officials in the Nigerian Government in 2014. Controversies had surrounded the purchase of weapons in the fight against insurgency with the then National Security Adviser, Sambo Dasuki, being…
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Jan
16
2024
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By Abia ThinkTank
Private Operators To Handle Port Harcourt Refinery

Private Operators To Handle Port Harcourt Refinery

Business, Economy, News Flash, Oil & Gas
NNPCL To Hand Over Port Harcourt Refinery To Private Operators As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.” In a publication on its website on Monday, the NNPCL said the contract scope shall cover refinery business processes like…
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Jan
13
2024
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By Abia ThinkTank
Breaking News: Dangote Refinery Begins Production

Breaking News: Dangote Refinery Begins Production

Economy, News Flash, Oil & Gas
NEWSBREAKING: Dangote Refinery Begins Production Spread the loveProduction at the Dangote Refinery and Petrochemical Company commenced on Friday. The refinery received the fifth crude oil shipment of one million barrels of Bonny Light supplied by the Nigerian National Petroleum Corporation Limited last week. The 650,000 barrels per day oil processing facility started operations in May 2023. It is designed to process crude oil grades from the three continents of Africa, Asia and America. More details later…
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Jan
07
2024
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By Abia ThinkTank
The Race To Wealth – By Nnate Ernest

The Race To Wealth – By Nnate Ernest

Columns/Opinions/Letters, Business, Economy
THE RACE TO WEALTH By Nnate Ernest It's fascinating how every person on Earth has a unique path and story of their life. Though there may be similarities in experiences, every individual has a distinct journey. Have you ever wondered why a group of people may embark on a journey together, but some may reach the top effortlessly while some struggle for a long time, while others never make it? The reason could be due to a combination of factors such as privileges, hard work, resilience, competitive spirit, and courage. However, I believe that there is also an element of…
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Dec
27
2023
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By Abia ThinkTank
CBN Assures Nigerians Of Funds Safety In All Banks

CBN Assures Nigerians Of Funds Safety In All Banks

CBN/Commercial Banking, Economy, News Flash
CBN Assures Nigerians Of Funds Safety In Banks The Central Bank of Nigeria has officially reassured the public about the security of funds held in Nigerian banks, underscoring the robust stability of the nation’s banking sector. This was made known in a statement issued by the acting, Director, Corporate Communications, Sidi-Ali Hakama via its X handle on Wednesday, December 27. The statement reads: “The Central Bank of Nigeria (CBN) has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions. “For the avoidance of doubt, Nigerian banks remain safe and…
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Dec
24
2023
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By Abia ThinkTank
Jubilation As Tinubu Approves Disbursement Of N-Power Stipends Due For 9 Months

Jubilation As Tinubu Approves Disbursement Of N-Power Stipends Due For 9 Months

Abuja, Economy, News Flash
This directive follows a report from SaharaReporters highlighting the plea of N-Power beneficiaries from Batch ‘C,’ organized under the National Association of N-Power Beneficiaries. In their communication to the President, they urged him to address the issue of unpaid stipends and requested the summoning of the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, for an inquiry into the prolonged nonpayment....CONTINUE READING Expressing their dissatisfaction, the beneficiaries, through their National Publicity Secretary, Adeshina Adex, emphasized that the N-Power management had failed to distribute stipends over the past nine months. They revealed that, in the months of October, November, and…
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Dec
22
2023
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By Abia ThinkTank
Jubilation As Port Harcourt Refinery Commence Operation

Jubilation As Port Harcourt Refinery Commence Operation

Economy, News Flash, Oil & Gas
Nationwide Jubilation As Portharcourt Refinery Commences Operation The Port Harcourt Refining Company, PHRC, Limited, with a combined capacity of 210,000 barrels per day, commenced operation on Wednesday. According to a video sighted by our correspondent, the refinery’s flare indicated the commencement of oil refining. The development comes months after the Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri said in August that the Port Harcourt refinery will commence operation in December 2023. According to the Minister, the objective is to ensure the country stops importing fuel. Corroborating Lokpobiri’s stance, the Nigerian National Petroleum Corporation Limited, NNPCL, declared that importing…
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Dec
22
2023
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By Abia ThinkTank
Naira Scarcity: Banks Colluding With POS – CBN

Naira Scarcity: Banks Colluding With POS – CBN

CBN/Commercial Banking, Economy
Banks Colluding With POS Operators To Disrupt Naira Circulation — CBN Discloses As cash scarcity occasioned by the redesign of three naira notes continues to bite Nigerians about a year after the implementation of the policy, the CBN has warned against collusion between Deposit Money Banks (DMBs) and Point-Of- Sale (PoS) operators. In a statement on Thursday by its spokesperson, Sidi Ali, Hakama, the apex bank said such collusion was affecting the availability of cash and the seamless circulation of the naira in the country. The CBN said it was investigating reported cases of collusion between banks and PoS operators…
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