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ASR AFRICA SUPPORTS HEALTHCARE DEVELOPMENT IN EDO STATE WITH N2.5BN GRANT TO EDO STATE GOVERNMENT
ASR AFRICA SUPPORTS HEALTHCARE DEVELOPMENT IN EDO STATE WITH N2.5BN GRANT TO EDO STATE GOVERNMENT
The Abdul Samad Rabiu Africa Initiative (ASR Africa) – brainchild of Industrialist, philanthropist and founder of BUA Group, Abdul Samad Rabiu, has provided a grant of 2.5billion Naira to the Edo State Government towards the equipping of the New Stella Obasanjo Hospital in Benin City currently being reconfigured, upgraded, and expanded to a 250-bed specialist hospital. This donation makes Edo State the fourth state after Sokoto, Ogun and Kwara states to receive a 2.5billion Naira grant from ASR Africa’s 10bn Naira Tertiary Healthcare Systems Support Grants Scheme for 2021 drawn from the Annual ASR Africa $100million Fund for Social Development and Renewal.
Governor Godwin Obaseki of Edo State receiving a N2.5billion ASR Africa Tertiary Healthcare Support grant award letter from Ubon Udoh, Managing Director, ASR Africa at the grant presentation towards the equipping of the New Stella Obasanjo Hospital in Benin City.
Presenting the grants award letter to Governor Godwin Obaseki in Edo State, Ubon Udoh, Managing Director, ASR Africa Initiative said the 2.5billion Naira Healthcare grant to Edo State, was in fulfilment of the pledge made by the founder of ASR Africa, Alh. Abdul Samad Rabiu, in June 2021 when he specifically set aside 10billion Naira for tertiary healthcare interventions in 4 states in Nigeria. He further added that the 2.5billion grant, which will be put towards equipping the new Stella Obasanjo Hospital, will go a long way in raising the standard of care accessible in the region. He also commended Governor Godwin Obaseki, for his commitment to healthcare development at all levels within the State.
Edo gets N2.5bn grant from ASR Africa for equipping Stella Obasanjo hospital
The Edo State Government has received a total of N2.5 billion grant from the Abdul Samad Rabiu Africa Initiative for the Tertiary Health System Support Scheme, which according to Governor Godwin Obaseki, will be used to equip the Stella Obasanjo Hospital, in Benin City.
After receiving the letter of award from the Managing Director/Chief Executive Officer, Abdul Samad Rabiu Africa Initiative, Dr. Ubon Udoh, at the Government House in Benin City, the governor reiterated his administration’s commitment to improving the healthcare system in the state.
“We are here to present to you a letter of award for a N2.5 billion grant for tertiary healthcare support system scheme to support the Stella Obasanjo Hospital.”
“We are going to start by putting an initial deposit of N1.25billion in a joint account between ASR Africa and Edo State Government; I want to congratulate you and your team. We want to thank you for the commitment you’ve shown towards bettering the lives of your people and the quality of leadership you’ve shown and which we have seen. I want to assure you that this is the beginning of a partnership between ASR and the Edo State Government,” he said.
Governor Obaseki, whilst thanking the ASR Africa Initiative for the grant, stated that his government decided to improve healthcare delivery in the state by renovating, improving, and upgrading the Stella Obasanjo Hospital to a 250-bed hospital. He also added that new buildings and services are being added to complement and support the existing complex.
According to Governor Obaseki, “We are very concerned about healthcare in Nigeria with the post-COVID-19 economy. We are determined to make Edo a healthcare hub in Nigeria. The healthcare system is really about the people. Infrastructure is important. If you don’t have the people that are properly trained, then the equipment will just be fancy for tourism. Within the Edo axis, we can muster up to five thousand doctors in different specialisations.
“If we have access to people who can provide quality healthcare and have world-class institutions or facilities to provide that training, then we should do it. Having the right governance means an arrangement where people don’t need to travel to get the kind of care they need.
“We are very keen and are anxious to get this started. For us as a state, we just try and execute. Hopefully, next week, we will establish a joint account and the procurement process has to be accelerated; within the next four to six weeks, let the orders be placed.
“I want to thank and appreciate you and the people of Edo will eternally be grateful. We can now proudly say that you have one of your largest investments in Africa in Edo and this is what they are contributing to the lives of our people,” he added.
The brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.
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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