Business
AN OPEN LETTER TO GOVERNOR AKINWUNMI AMBODE
My Dear Governor,
A very good day to you sir, May the almighty God continue to
replenish and strength you to pilot the affairs of this great State of Lagos to the desired destination/itesiwaju.
Your dream and plans for a state that will move forward “itesiwaju” for our children and grand children will be a thing of pride of be achieved in our lifetime.
Your Excellency, most of your super fans, including myself, never believed you could achieve this much or quickly move this state forward within the short period but we voted for you because of good governance which we have been enjoying in Lagos by your great party which has never disappointed us.
Within your one year in office, we have seen and felt your “itesiwaju” moving Lagos forward with a lot of project being done from almost all the sectors and these include; building, reconstructing, expanding and renovations of roads.
Sir, Lagosians appreciate your efforts on Oworoshoki bus-stop which your government have done so well by creating ultra modern bus stop to de congest the traffic on the third mainland bridge which usually starts around 4pm from Monday to Friday for those who are coming from the Island, the traffic has reduced to 60 percent now.
I will also like to use this medium to call your attention and observation to few other things which include a project that mayvreduce the traffic to 30 percent on third mainland bridge and will also reduce cost on transportation for Lagosians.
Attention/Observation on oworoshoki pedestrian bridge
Sir, the pedestrian bridge at Oworoshoki needs urgent renovation or another one to be put in place because the bridge is weak as it now vibrates any time people pass on it, despite the fact that it’s being use by less people.
Aside that the fact that the bridge now vibrates, there are six holes on this pedestrian bridge and one can even see the vehicles going under the bridge and if care is not taken,one can mistakenly slip his/her feet into the hole while making use of the pedestrian bridge which is supposed to be safe for user.
Advice on Oworoshoki to Adeniji/Island
Sir, in a way to decongest the third mainland bridge of 40 or 30 percent traffic, I will advice the state government to create a marine/sea transport at Oworoshoki for people to ply from Oworoshoki to Adeniji, Victoria Island, CMS, Apapa, Lekki and Ajah so as to reduce road transportation. Creating sea transport in Oworoshoki which still have enough space for such will reduce the pressure on third mainland bridge and increase it life span as well as reducing the stress of many Lagosians.
Also, in creating the sea transport, your government can establish a car park in that place so that anybody coming with a car to the Island can also park their cars and join the stead boat to the Island fast and with less stress to their destination while they will also
pay a token for the car park.
Lastly, in creating sea transport and car park at Oworoshoki, I strongly believe the state government would have moved 20 percent forward for the benefit of those who uses (inter states) third mainland bridge.
Also, it will generate income for the state particularly with this economy situation of Nigeria.
I’ll like to conclude with a quotation from me “The ability of a government is to look beyond the ability and capability of his/her cabinet but accept and digest it’s citizenry advice and suggestion to move a nation forward”.
Eko oni baje, Itesiwaju eko lo je wa lo’gun.
Yours sincerely,
Ola Muhammed
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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