Business
AU, AFRIMA PARTNER FELABRATION 2016
Following the successful release of the full Nominees List for the 2016 All Africa Music Awards, AFRIMA, the African Union Commission, AUC, and the International Committee of AFRIMA have entered into partnership with Felabration 2016, the annual festival organised to celebrate the late music maestro and Afrobeat creator, Fela Anikulapo Kuti.
The decision to support the 2016 edition of Felabration with theme “Everybody Say Yeah Yeah” was disclosed by the Associate Producer, AFRIMA, Ms. Adenrele Niyi to the Founder of Felabration and daughter of the late music legend, Ms. Yeni Kuti, when she paid a courtesy call to the AFRIMA Secretariat in Lagos on Thursday, September 15.
According to Ms Niyi, AFRIMA will be fully involved with Felabration 2016 from the first event, the Senior Secondary Schools Debate, which holds on Wednesday, October 5, and from Monday, October 10 when the week-long festivities commence.
“There’s no better way to begin this partnership with Felabration than through the school debate for secondary school students in Lagos State. It creates the perfect platform for the AFRIMA Foundation to purse her Corporate Social Responsibility (CSR) activities in Lagos State, the 2016 Official Host City for AFRIMA through our CSR initiative, Educate-A-Child (Our Voice). It is an Africa-wide campaign that took AFRIMA to Bakoteh Proper Lower Basic School, Banjul, Gambia, in May 2016 to interact with the teaching staff and students. The visit to the school was part of the programmes lined up for the AFRIMA-AUC joint media/cultural conference held in Gambia on May 24, 2016. During our visit, AFRIMA donated educational materials, computers and musical equipment to the school.”
The Associate Producer stated that in keeping with the objectives of the CSR to raise the standard of education in Africa and create conducive learning environments for African children, participating schools and winners at the school debate would benefit from the Educate-A-Child endowment.
“We are set to replicate this commitment to education in Nigeria by donating prizes in the form of educational materials and equipment to both participating schools and winners at the Felabration 2016 Schools Debate. Our goal is to encourage young people that education is rewarding and to show that learning will help them understand and take pride in their cultural heritage. Remember Fela won the 2014 AFRIMA Legend Award which tells you that we are proud of Fela Kuti’s achievements and legacy as a music composer and artiste. Naturally, we are excited to be associated with a brand that celebrates artistic excellence as AFRIMA does.”
Responding, Yeni Kuti thanked AFRIMA and the AU for the gesture and urged more organisations to emulate AFRIMA.
“We are delighted that AFRIMA will be participating in Felabration 2016 starting with the school debate; it’s been a challenge hosting this school debate and to have AFRIMA come in through the Educate-A-Child CSR is a relief. Each year, the debate has been very interesting and the schools and students benefit greatly in terms of exposure to new knowledge and the opportunity to increase the educational materials available for learning.” Ms. Kuti added that the topic for this year’s debate, “Reparation: Yes or No?” will challenge the students to delve into African history and learn new things about their heritage. “We want to keep Fela’s love of culture and learning alive among young people,” she said.
While concluding the discussion, Adenrele Niyi urged the Fela Foundation to also get involved in the AFRIMA 2016 programme of events from November 4-6, 2016 which includes the Africa Music Business Summit on Friday, November 4 and the AFRIMA Music Village, an open concert-style festival featuring nominees and other top billed music stars, also on Friday, November 4.
In partnership with the AUC and the Official Host City, Lagos State, AFRIMA 2016 grand awards ceremony holds on Sunday, November 6 with thousands of guests expected in Lagos for the various events.
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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