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ASUP to embark on Indefinite strike on November 13
The Academic Staff Union of Polytechnics ( ASUP ) is set to embark on an indefinite strike action with effect from Monday, November 13, 2017 to press for the implementation of its agreement with government, accusing government of treating polytechnic education with disdain and levity.
Rising from the emergency meeting of its National Executive Council, ASUP said it has no choice than to embark on an indefinite strike after the expiration of its earlier 21 days ultimatum, adding that the conciliatory meeting organised by the Federal Ministry of Labour failed to produce positive result because the Ministry of Education was not interested in resolving the dispute.
National President of ASUP, Comrade Usman Y. Dutse also accused the government of using endless verification exercises to delay the payment of entitlements of members of the union, adding that while the union is not against government carrying out verification exercises, it should not endless and the exercise should not be used to denied workers their rights.
He said that despite the 21 days notice given to the government, they did not consider it necessary to address their demands for an improved funding of polytechnic education in the country.
Dutse said “Our union is therefore constrained to lament again that our sector is on the verge of collapse and needs all the emergency attention it urgently deserves. Until now, it should be noted that the issues raised here today have been there since 2014 and none of these issues has since 2014 been concretely resolved to improve the sector.
“It is against this background that we wish to remind governments at all levels and indeed all Nigerians that we cannot continue to be complacent in the face of imminent and seemly strategic annihilation of a sector that feeds and caters for millions of youths and families. A sector that if well harnessed will boost Nigeria’s technological know–how, improve ICT, create millions of employment opportunities and raise the level of both theoretical and practical technological literacy.”
Some of the issues include the non implementation of the NEEDS assessment report recommended the injection of N6.5 billion int the polytechnic education in 2014, adding that this has risen to about N8 billion, adding that without Imo,emerging the report, the essence of using tax payers money to embark on the exercise is wasted.
He said the issues also include the Non – passage of the Amendment Bill of the Polytechnics Act, adding that “the delay and indifference to the passage of this bill is viewed as a ploy to fester chaos and continued crises in the sector. Recall that this bill passed through public hearing since December 2016. One wonders why an all important bill such as this still remains unattended to even when assurances have been extracted from the Senate Committee on this bill, our regulatory agencies and ministry of education.
Passing this bill will go a long way to resolving majority of the contending issues in the sector, reduce conflicts, improve on the efficiency levels of the administrative organs and ultimately bring the sector in tune with global best practices. Same bill died with the 6th and 7th assemblies and the current effort is now being threatened to go same way as it is stuck in the Senate since the public hearing in December, 2016.
“Shortfalls in Personnel Releases and Withdrawal of Allowances and emoluments due to cuts in personnel releases. This phenomenon has persisted till date. As if this was not enough, government added salt to injury by withdrawing allowances which hitherto were part of salaries.
“Equally, unpaid arrears of promotions have continued to mount. While verifications of staff have been conducted over and over, only five institutions have received repayment of their 2016 shortfalls. This situation is compounded by the continued penchant of Governing Councils to siphon the meagre internal resources of institutions in order to assuage their unbridled appetite for luxury.”
He also said that the Non Release of CONTISS 15 Migration arrears has lingered since 2011 when the approval to migrate to the CONTISS 15 salary scale was secured from the government effective 2009, adding that “Since then, only the upper cader has been fully taken care of. Staffs in the lower cader are being short changed since then as they are yet to gat the full benefit of this policy. In response, government continues to set up committees without terminal dates and any meaningful response to the union’s protests.
“It is worthy to note that a lot of these issues constitute violations of the agreement signed between our union and the government in 2010. This is in tandem with the now well documented penchant of government to renege on agreements. Recently efforts to address these issues led to the convening, on the 24th of October 2017, of a conciliatory meeting by the Federal Ministry of Labour in Abuja.
“Curiously, the ministry in eye of the storm (The Federal Ministry of Education) was so poorly represented that no memorandum of action was agreed upon. This clearly showed the level of disdain and disrespect with which issues of the polytechnic sector are being handled by relevant agencies of government.
“In view of the above, our union rising from this emergency meeting hereby resolved to commence an indefinite and comprehensive strike action effective 13th November, 2017. This action shall be sustained until our demands are met or an implementable memorandum of action is agreed upon by our union and relevant agencies of government.
“We therefore call on well meaning Nigerians and indeed the public to prevail on the government to do the needful and avoid this imminent shutdown of the sector on an indefinite basis.”
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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