Business
Again, Boat Mishap claims seven lives in Kebbi
Seven people were feared dead in a boat mishap involving a family returning from a farmland across the River Niger in Yauri Local Government of Kebbi State, Sunday night.
Abdullahi Takwa, Chairman of Yauri Boat Builders and Wakilin Sarkin Ruwa (representative of Chief of the River), who spoke with PREMIUM TIMES on Monday, said the family were returning from their onion farm in Rokubalo, a village about four kilometres across the river.
He said a strong wave accompanied by violent wind forced the boat to capsize.
“I just spoke with one of the survivors, who told me that, they were nine in the boat that was struck by ‘strong water wave with strong wind’ while on their way back from the farm, around 6:30pm yesterday (Sunday), he said.
Musa Mohammed, Chairman of Yauri Local Government Council, when contacted on phone also said the boat was ferrying nine members of the same family.
“The boat was ferrying nine family members, two women and seven men, who were returning from their farmland where they went to plant onions.”
He said two survivors have been found while seven are still missing. “But, so far, we cannot say they are dead or not. What we will do is to declare them missing,” the chairman said.
He said water surge released from Kainji and Jaba dam which increased the water level in the river was part of the cause of the tragedy, which also alters navigation and covers stumps under water.
A recent report by PREMIUM TIMES revealed that at least 33 Nigerians have died since April this year in three boat accidents on the River Niger in Yauri Emirate of Kebbi State, with two of the mishaps occurring on Wednesday and Thursday last week.
Many passengers are still not unaccounted for.
The last two accidents occurred in the area over five months after the Nigerian Senate passed a resolution urging the federal government to urgently implement some measures that could have prevented the accidents.
The first accident occurred in April when a boat ferrying traders to Warra in Ngaski Local Government Area of Kebbi State from Malale market in Borgu Local Government Area of Niger State capsized and killed nine persons. Officials had also declared 25 of the passengers missing after 26 of them were rescued.
Initial reports had stated that about 150 passengers were crammed into the boat for the ill-fated trip.
Following the accident of April, the Nigerian Senate called on the Federal Government to provide Warra community with a modern 50-seater boat to check the disasters.
The Deputy Senate President, Ike Ekweremadu, who presided over Senate plenary on May 5, while reading the resolution of the Senate, also called on the federal government to assist the communities in blasting the big stones and cutting the big stumps in the river that hinder safe navigation around the area.
“Senate also resolved to urge the Ministry of Transport through the National Inland Waterways Authority to immediately conduct a survey into the stretch of River Niger in the area with a view to putting safe navigational aid in place. The Senate also urge the National Emergency Management Agency, NEMA to assist the communities with relief materials in order to cushion the effect of the disaster,” Mr. Ekweremadu said.
Earlier, the sponsor of the motion that led to the resolution, Mr. Na’Allah, who represents Kebbi South Senatorial zone, said despite the sacrifice by the some communities which were resettled by the then Northern regional government in order to build the current Kainji Dam to provide electricity for Nigeria, “the communities are without drinking water and electricity. Only plank canoe is used to transport people through the river.”
He also said the incessant boat mishaps and loss of lives in the Yauri end of River Niger called for the urgent intervention of the federal government. Mr. Na’Allah said that despite the disturbing development which had become an annual occurrence; nothing had been done to prevent future recurrence.
He also expressed concern that many of the victims were not accounted for due to lack of passenger manifest.
Adamu Aliero, a former governor of Kebbi who is now a senator representing Kebbi Central, while contributing to the motion, said the communities had for long been suffering from serious environmental degradation as a result of their resettlement for the building of Kainji Dam.
He described the motion as very timely and apt in order to save lives and facilitate the provision of water and electricity as well as relief materials to the victims of mishap in the area.
A former governor of the state, Abubakar Musa, said in Warra that the government needs to provide life jackets and modern passenger boats for trips on the river.
“Most importantly, the chopping off of those stumps under the water. If that problem is not solved we will continue to have this problem of accidents,” he said.
Meanwhile, Mr. Na’Allah, when contacted on Sunday, said he had contacted Vice President Yemi Osinbajo to know his effort to address the incessant boat mishaps in the riverine areas of Kebbi South, the senatorial zone he represents.
“I met Vice President Yemi Osinbajo to follow up on federal government’s intervention, few days before these recent unfortunate accidents. I am quite optimistic that assistance will come from the federal government very soon,” he said.
He condoled with the governor of Kebbi State and the Emir of Yauri and all those who had lost their loved ones.
He commended several efforts made by the Yauri Emirate and the state government to ensure the safety of lives and properties in the riverine areas.
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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