FGN - Abia ThinkTank News

Nov

2024

CBN Raises Interest Rate To 27.5%

CBN/Commercial Banking, Economy, FGN, News Flash

CBN Raises Interest Rate To 27.5% The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates in the country to 27.50 percent — from 27.25 percent. Olayemi Cardoso, CBN’s governor, announced the committee’s decision at a press conference on Tuesday.He said the committee increased the MPR by 25 basis points. Cardozo said the committee retained the asymmetric corridor at +500 and -100 basis points around the MPR. The CBN governor said the MPC also retained the cash reserve ratio (CRR) at 50 percent, as well as the…

Nov

2024

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By Abia ThinkTank

President Tinubu Sets Aside Political Differences, Celebrates Atiku At 78

Birthday, FGN, News Flash, Presidency

Tinubu Sets Aside Political Differences, Celebrates Atiku At 78 President Bola Tinubu has celebrated former Vice President Atiku Abubakar on his 78th birthday. President spokesman Sunday Dare in a statement said Atiku has been an active player in Nigeria’s democratic journey. “President Bola Tinubu extends his best wishes to former Vice President Atiku Abubakar on the occasion of his 78th birthday,” Dare’s statement read. “The former Vice President and PDP presidential candidate in the 2023 presidential election has been an active player in Nigeria’s democratic process since the return to civilian rule in 1999.” Dare said Tinubu “recalls many special…

Nov

2024

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By Abia ThinkTank

President Tinubu Celebrates Port-harcourt Refinery Revival, Gives Fresh Order To NNPC

FGN, News Flash, Oil & Gas, Presidency

Tinubu Celebrates Port Harcourt Refinery Revival, Gives Fresh Order To NNPCL President Bola Tinubu has extended his heartfelt congratulations to the Nigeria National Petroleum Company Limited (NNPCL) on the successful revitalisation of the Port Harcourt refinery, marked by the official commencement of petroleum product loading on Tuesday. A statement by Special Adviser to the President (Information & Strategy), Bayo Onanuga on Tuesday, said the president acknowledged the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all the country’s refineries. He also expressed gratitude to the African Export-Import Bank for its confidence in financing this critical…

Nov

2024

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By Abia ThinkTank

President Tinubu Assures Of Greater Economic Output, Welcomes Third Quarter GDP Growth

Economy, FGN, News Flash

STATE HOUSE PRESS STATEMENT PRESIDENT TINUBU ASSURES OF GREATER ECONOMIC OUTPUT, WELCOMES THIRD QUARTER GDP GROWTH FIGURE President Bola Tinubu has assured Nigerians of better economic output as the economy continues to expand following the newly released third quarter Gross Domestic Product report by the National Bureau of Statistics. According to the NBS, Nigeria's GDP grew by 3.46%, compared to the 3.19% growth recorded in the second quarter. The growth in GDP shows that President Tinubu's quest for a more robust boost in the economy and, by extension, a better standard of living for all Nigerians is on course. The…

Nov

2024

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By Abia ThinkTank

Dangote Refinery Jet Fuel Exported To London, Iceland, Other Global Airports

Business, Economy, FGN, News Flash, Oil & Gas

Dangote Refinery Jet Fuel Exported To London, Iceland, Other Global Airports The Dangote Refinery has successfully exported its jet fuel to various international destinations, including airports in Iceland, Tenerife, and London. According to a report by SP Global Commodity Insights, the refinery’s Nigerian-made aviation fuel has reached prominent locations such as Heathrow Airport in the UK, as the petrochemical facility continues to scale up production. The report further highlights that between January and October this year, the majority of the refinery’s supply has been delivered to the Lome transshipment hub off Togo. South Korea has also emerged as the largest…

Nov

2024

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By Abia ThinkTank

Northern Elders’ Forum (NEF) Affirm Rejection Of Tax Reform Bill

Economy, FGN, News Flash, Northern Nigeria

Northern Elders Affirm Rejection Of Tax Reform Bill The Northern Elders’ Forum (NEF), on Saturday, November 23, reaffirmed its rejection of the Tax Reform Bill. NEF described it as a policy “conceived in bad faith”, adding that it threatens national cohesion. The group criticised the manner of its implementation, alleging that key stakeholders, including members of the National Economic Council (NEC), were sidelined during the process. The convener of NEF, Professor Ango Abdullahi, in a communique after the forum Board of Trustees’ second bi-annual meeting, in Abuja, warned against policies that could further marginalise the north’s resource potential. The forum…

Nov

2024

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By Abia ThinkTank

Why Simon Ekpa Was Arrested By Finnish Authorities – FGN

Crime, FGN, Foreign Affairs, Human Rights, News Flash

Why Simon Ekpa Was Arrested By Finnish Authorities – FG The Nigerian Government has said the arrest of Simon Ekpa, a Nigerian-Finnish citizen and a leader of the proscribed Indigenous People of Biafra (IPOB) followed sustained diplomatic pressure on Finland, to take action against his activities, linked to violence and instability in the South-East of Nigeria. Nigeria’s Ministry of Foreign Affairs said this while confirming the arrest of Simon Ekpa by the Finnish authorities in a statement issued on Friday. The ministry, this in a statement by Kimiebi Ebienfa, the Acting Spokesperson of the Ministry of Foreign Affairs, on Friday…

Nov

2024

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By Abia ThinkTank

Simon Ekpa Will Be Extradited To Nigeria To Face Charges – Defence Headquarters

Crime, FGN, News Flash

Simon Ekpa Will Be Extradited To Nigeria To Face Charges – Defence Headquarters The Nigerian Defence Headquarters, Abuja, has stated that Simon Ekpa, the self-proclaimed prime minister of the Indigenous People of Biafra (IPOB) will be extradited to the country to face charges against him. Speaking on the arrest of Ekpa in a short press statement by the Director of Defence Information, Brig Gen Tukur Gusau, said the Chief of Defence Staff, Gen Chris Musa, was pleased with Ekpa’s trial. Gusau wrote: “CDS is happy with his arrest in Finland, with the hope this will be a step towards his…

Nov

2024

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By Abia ThinkTank

Simon Ekpa, Four Others Arrested In Finland Over Terrorism, Violence In Nigeria

Crime, FGN, News Flash

Simon Ekpa, Four Others Arrested In Finland Over Terrorism, Violence In Nigeria Pro-Biafra Agitator, Simon Ekpa has been arrested alongside four others over Terrorism related activities by Finnish Authorites. The self-declared Prime Minister of Biafra Republic Government In-Exile, was remanded in custody by the district court of Päijät-Häme on suspicion of public incitement to commit a crime with terrorist intent. He was arrested “on suspicion of public incitement to commit a crime with terrorist intent”, while four others were arrested “for financing a terrorist crime”. A statement by the central criminal police in Finland read; “The detention demands are related…

Nov

2024

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By Abia ThinkTank

Senate Approves Tinubu’s N1.77 Trillion External Loan Request

CBN/Commercial Banking, Economy, FGN, News Flash

Senate Approves Tinubu’s N1.77 Trillion External Loan Request The Senate on Thursday, November 21, approved President Bola Ahmed Tinubu’s request for a new eternal borrowing of N1,767,610,321,779.00 or (USD2.209billion in the 2024 Appropriation Act. The resolution of the Senate followed its consideration of the report of the Senate Committee on Local and Foreign Debt and the approval of its recommendations by the Senate during plenary. The Chairman of the Senate Committee on Local and Foreign Debt, Senator Aliyu Wamakko, presented the report. The President’s request was contained in a letter read by the Senate President, Godswill Akpabio, during the plenary…