Business
ASR AFRICA, BUA FOUNDATION APPROVE N1.5BILLION GRANT FOR DEVELOPMENT PROJECTS IN IBESE, IGBOBILA, ILARO, OTHERS IN YEWA LAND, OGUN STATE
ASR AFRICA, BUA FOUNDATION APPROVE N1.5BILLION GRANT FOR DEVELOPMENT PROJECTS IN IBESE, IGBOBILA, ILARO, OTHERS IN YEWA LAND, OGUN STATE
Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa) – the brainchild of Industrialist, philanthropist, and founder of BUA Group, Abdul Samad Rabiu, and the BUA Foundation have awarded development grants worth N1.5 billion to Yewa Land in Ogun State comprising Ilaro, Igbogila, Ibeshe, Egua, and Igonade communities for key community, social, and infrastructural development projects. This was announced at the grant presentation and mutual accountability framework signing ceremonies held today in Ilaro, Ibese, and Igbogila. The grants will be channeled towards interventions in the areas of health, education, or social development initiatives that are identified for implementation.
Presenting the grants award letter to Oba Kehinde Olugbenle, the Olu of Ilaro and Paramount Ruler of Yewaland in Ogun State, Ubon Udoh, Managing Director, ASR Africa assured of more partnership with the people of Yewaland and reiterated that the vision of Abdul Samad Rabiu, Founder of ASR Africa and Chairman of BUA, is to provide concrete solutions for sustainable development in Nigeria, and Africa. According to Ubon, “What ASR Africa and BUA Foundation are doing here today, is planting a seed of sustainable problem-solving across Africa in line with the vision of Abdul Samad Rabiu, our founder – and Chairman of BUA.
“The first grant of N1 billion goes to all communities in Yewaland for developmental purposes to uplift the quality of life of the Yewa people, while ASR Africa and BUA Foundation are also giving additional specific grants of N250million each to Igbogila and Ibese Communities for already identified infrastructure projects to enhance community development through their traditional institutions. We have done our basic needs assessment in collaboration with the communities on their needs, and we are pleased to say we look forward to the commencement of the identified projects and a more robust partnership with Yewaland, as we have done in other parts of the country.
In his response, Oba Kehinde Olugbenle, the Olu of Ilaro and Paramount Ruler of Yewaland commended Abdul Samad Rabiu for his philanthropic gestures across the country and noted that indeed he is a true Nigerian. The monarch added that with the grants, Yewaland and Yewa people will witness rapid social and infrastructural development. “We are one of the largest sub-ethnic groups in Yoruba Land and these grants will go a long way in bringing sustainable development in line with the United Nations SDGs, to our people”, he added.
The Paramount Ruler of Ibese community, HRM Oba Rotimi Mulero, The Oboro of Ibese, also thanked the donors for their timely intervention in developing Ibese community. “May the Almighty bless Abdul Samad Rabiu, ASR Africa, and BUA Foundation for partnering with us to fast-track development in our community because we are still largely behind on the development curve. This partnership with ASR Africa and BUA Foundation will go a long way in ensuring even greater development for our people.”
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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