Business
BIP: Dangote Sugar employs 7,000 Nigerian youth yearly
BIP: Dangote Sugar employs 7,000 Nigerian youth yearly
The Dangote Sugar Refinery (DSR) employs no fewer than 7,000 workers yearly in its Backward Integration Project (BIP) in Numan, Adamawa State.
Speaking during a media tour of the company in Numan, the company’s Group General Manager, Operations, Bello Abdullahi Dan-Musa, said, that despite employing thousands of abled- youths as direct employees, the company also employed, more than 7,000 youths at the peak of the production season.
It would be noted that Dangote Group is Nigeria’s biggest employer of labour after the Government.
Only recently, he said the company paid over N500 million to the out-growers for the sugarcane they produced under the DSR Numan out-growers scheme.
The current capacity of the DSR Numan refinery of 4,800 Tons of Cane Per Day (TCD), he said, is being upgraded to 6,000 TCD by the end of 2023, 9,800TCD by 2024, and subsequently to 15,000TCD.
According to Mr. Dan-Musa, Dangote Sugar Refinery Numan has contributed immensely in the realization of the Backward Integration programme of the Federal Government. “Dangote Sugar Refinery is Nigeria’s largest producer of household and commercial sugar” he said.
President of the Dangote Group, Aliko Dangote, had said that upon completion of the BIP projects, his sugar company will be able to create about three hundred thousand direct and indirect jobs, with positive multiplier effects on the national economy.
Speaking during the media tour, Chief Executive Officer/Managing Director, Chinnaya Sylvain Judex, said the expansion drive has reached a significant mileage.
According to him, the company has acquired state-of-the-art machines to support its production process, adding that it facilities are environmentally friendly.
Mr. Judex said its Backward Integration goal is to become a global force in sugar production, by producing 1.5M MT/PA of refined sugar from locally grown sugar cane for the domestic and export markets.
He said the company operates an independent power system, and that excess energy will be redirected to the national grid.
According to him, the power, from the Dangote Sugar Refinery, Numan, when redirected to the National Grid has the potential to contribute immensely to the rapid development of the economy of the entire Northeast.
Mr. Judex added that the energy will bring about accelerated development and industrialization in the region.
Meanwhile, the Paramount Ruler of Bachama Kingdom in Adamawa state, Dr. Daniel Ismailia has commended the company for its numerous Corporate Social Responsibility activities in the host communities.
Speaking when a team of journalists from the state visited his office, he described the intervention of the company as huge.
The Paramount Ruler said the presence of the company has helped bring down the rate of criminalities in the state.
He commended the company for creating thousands of job opportunities for the people of Adamawa State, and Nigeria, adding that his Kingdom is the biggest beneficiary of the company.
The Executive Director, Climate Africa Media Initiative and Centre (CAMIC) Mr..Aliu Akoshile commended the Hama Bachama for providing the peaceful environment needed to do business in his domain.
The State Chairman of the Nigerian Union of Journalists (NUJ), Comrade Ishaka Donald Dedan, commended the Monarch for always playing a fatherly role, adding that the Adamawa people are proud that the company has provided jobs for their people.
In his earlier presentation, Prof. John Ngamsa of Modibbo Adama University, Yola, urged journalists to invest in environmental journalism with all seriousness because the environment is man’s only protective territory.
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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