Business
BUILDING COLLAPSE: DANGOTE CEMENT URGES BUILDERS TO USE QUALITY MATERIALS
BUILDING COLLAPSE: DANGOTE CEMENT URGES BUILDERS TO USE QUALITY MATERIALS
Group Managing Director, Dangote Cement Plc, Mr. Arvind Pathak has tasked professional builders in the country to prioritize the use of quality materials in building projects as a potent means of checking the incidence of building collapse.
Mr. Pathak gave the charge at the opening of the 32nd Lagos Builders Conference of the Nigerian Institute of Building themed: Safe and Sustainable Building Production Management in Nigeria, which held in Lagos.
The Dangote Cement boss who was represented by the Company’s National Sales Director, Mrs. Funmi Sanni enjoined the professional builders to be bothered about the menace of building collapse on their profession and insist on the use of quality materials by associated artisans who work closely with them.
Mrs. Sanni urged the participants to take the issue of quality building materials seriously and always insist on quality so as not to dent the reputation of the building Institute which is one of the most respected institutes in the country.
The Sales Director said everybody is a builder and everyone knows that once the foundation of any structure is not solid, it will give way with time, “we are all builders, if you are not building a house, you are building a family, you are building a career. When you are building a family and one of the partners cheats, then there will be problems and it’s a matter of time before the family will collapse if care is not taken. Same thing with structures, once you begin to deploy inferior materials to make money for yourself, surely the structure will give way.”
According to her, “Because of the different needs of our consumers, we also produce various product ranges tailored to meet the specific needs. We have products created for each stage of the building process and different construction needs. We have BlocMaster for foundations and casting of concrete, we have Falcon for making blocks, laying of blocks, plastering/rendering, and tiling and we have 3X, the premium products of choice.
Mrs. Sanni said the management of Dangote Cement is of the firm belief that compliance with the stipulated standards is vital to safe and sustainable building as it eliminates to a great extent the likelihood of building collapse and therefore, production of materials employed in building must meet acceptable standards.
“If defective materials are used in building, such structures will not be safe and sustainable. The theme of your conference, Safe and Sustainable Building Production Management in Nigeria is apt for us in Dangote Cement, as we are a leading player in the nation’s building sector. The quest for safe and sustainable building in Nigeria is the driving force behind Dangote Cement’s provision of best quality products to builders and end users of cement.”
In his opening speech, Chairman of the Lagos State Chapter of the Nigerian Institute of Building, Builder Lucky Isename said the construction industry plays a vital role in the development and growth of a nation and that it is imperative that the builders focus on the speed and efficiency of the construction industry and also the safety and sustainability of the built environment.
According to him, Nigeria just like other nations has witnessed a rapid increase of urbanization and population growth which has led to a surge in construction activities across the country. He noted that much as the development is a positive sign of progress, it also poses significant challenges in terms of ensuring safety and sustainable building practices.
Builder Isename pointed out that the safety of the citizens must be the top priority but unfortunately, the country has witnessed numerous incidents of building collapse, resulting in loss of lives and properties with the tragic events usually attributed to poor construction activities, inadequate supervision and the use of substandard materials.
“It is therefore our collective responsibility to address these issues and implement stringent safety measures to prevent further disaster from occurring. Sustainability is another crucial aspect that we must consider when it comes to building production management”, he admonished.
Also speaking after being given an award by the Institute, Lagos State Commissioner for Physical Planning, Dr. Olumide Olayinka urged his colleagues in the profession to be very circumspect when considering designs for building from clients.
According to him, some of the designs may be defective, and it would take a very meticulous builder to discover and help correct the defect for a better structure, saying that is one of the ways the builders can help sanitize the construction industry.
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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