Business
Abiodun: CNG buses will revolutionize transport sector
Abiodun: CNG buses will revolutionize transport sector
Ogun State Governor, Prince Dapo Abiodun has said the introduction of Compressed Natural Gas (CNG) Mass Transit Buses in the country will revolutionize the entire transport sector and reduce the hardship being experienced by Nigerians as a result of the recent removal of fuel subsidy by the federal government.
The state on Monday unveiled the first set of Compressed Natural Gas (CNG) Mass Transit Buses in the country with a promise by Governor Abiodun to expand the scope of the scheme’s operation throughout the state.
The 17 converted vehicles in the maiden scheme became the first in the country in response to the recent removal of fuel subsidy by the Federal Government, with the deployment of CNG Technology and E- Mobility as a better alternative and viable means of transportation in the Gateway State.
Governor Abiodun, while speaking at the launching, said the initiative was conceived even before the fuel subsidy removal as his administration was desirous of a cost-effective transportation system with little impact on the environment.
“The initiative was clearly anticipated because we knew that the regulation of the downstream sector was eminent and unavoidable.
“This has become very imperative considering the urgent need to provide a cleaner environment and to mitigate the effects of climate change which we are all seeing to be real and which principally is caused by the use of fossil fuel, predominantly diesel and petrol.
“As your governor, I am extremely delighted that we are able to commence the implementation of this laudable initiative and I am bold to say that we come tops yet again as the first state in the country to record this feat which is another successful Public Private sector partnership with our partner called Spiro, a company that has successfully deplored this in other parts of the West Africa sub-region,” the governor said.
He noted that local mechanics, who are part of the conversion engineering, had been trained, while conversion stations have been set up in the three senatorial district of the State, adding that this would allow for the rapid conversion of commercial and public mass transit buses and vehicles across the State.
The governor added that the initiative would reduce the cost of transporting goods and services as well as provide training and job opportunities for thousands of technicians and mechanics around the state.
Some of the buses, the governor revealed would be given to workers and students, while some would ply the Mowe- Ibafo to Berger in Lagos and Redeemed axis to Lagos Island, as the corridor was heavily congested with large cross border migration.
He said: “Some of these buses ply Kuto to Wole Soyinka train station in Laderin, some from Onikolobo to Idi-Aba corridor, while others will serve Ita-Oshin-Adatan route. As we expand our fleet, we will also deplore the buses to major towns and cities starting with Sango- Ota, Sagamu, Ijebu-Ode and this will provide mass transportation for our citizens particularly our young students in the towns and cities.”
Governor Abiodun said the state government has set up a gas filling station at Obada-Oko, just as it would provide the needed infrastructure to support the refuelling of the buses along the roads and terminals.
Abiodun appreciated President Bola Ahmed Tinubu for the initiative, noting that the state government is taking the direction from the federal government as a sub- national in executing the project.
“I want to appreciate every resident of Ogun State that government appreciate that these are very difficult times and we are all dealing with the trying period. I promise you that we will leave no stone unturned at ensuring the needed succour and relief to the generality of our people.
“I hope you are aware that we have commenced the construction of a Dry Port at Kajola-Papalanto corridor, which will further open up the State for investment opportunities as a verile alternative to the busy Lagos Port.
“In the same vein, it is a thing of joy that in the next couple of months, commercial operations will begin at our Agro-Cargo International Airport located along Iperu-Ilishan road in Ikenne Local Government Area of the State,” the governor added.
In his welcome address, Commissioner for Transportation; Engr. Olugbenga Dairo said that the unveiling of the buses marks an important milestone in the implementation of the state’s transport policies and the state multi-modal transport plan, adding that the use of alternative and cheaper fuels is also one of the key reasons why the state government established the ministry of transportation in February, 2020.
Also speaking, the member, representing Imeko and Yewa North in the Federal House of Representatives; Hon. Gboyega Nasir Isiaka described CNG as one of the challenges to the transportation problem occassioned by the fuel subsidy removal, moreso when the Federal Government was also thinking in the same direction.
He appreciated the governor for the brilliant pivotal initiative, adding that the impact must be felt by the people.
Akarigbo of Remoland and Chairman of the Ogun State Council of Obas, Oba Babatunde Ajayi lauded the achievement of the present administration, saying that the Prince Abiodun-led administration is on the right track.
The Akarigbo urged Governor Abiodun to ensure that the CNG enabled buses do operate inter-city only but also embark on intra-city transportation.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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