Business
Cars45 launches initiative to boot out unemployment
Cars45 launches initiative to boot out unemployment
Lagos, Nigeria: 8th October 2019
Nigeria’s leading automotive trading platform, Cars45 has launched an innovative empowerment initiative, Cars45 Automotive Entrepreneur Programme. The platform is designed as a framework for poverty alleviation and drive business growth and profitability for individuals irrespective of their social class.
The initiative provides Nigerians with the opportunity of making extra income by referring people to buy, swap or sell their cars or subscribe to the rich bouquet of services that Cars45 offers. These services include its Emergency Road Assistance, Premium Inspections, Concierge, Inspection and Valuation, Pre-Order, Annual Maintenance Contract amongst others.
Speaking on the initiative’s reason for being, CEO, Cars45, Etop Ikpe noted that the company’s initiative is in tandem with the federal government’s desire to drive economic growth, invest in human capital and build a globally competitive economy while adding that the initiative will complement government’s efforts to move millions out of the poverty bucket as a viable and sustainable income stream.
“We recognize that our platform helps to create lot of opportunities for people and Nigeria’s biggest problem today is unemployment. We have a huge youth population that must be fully engaged. And so, at Cars45 we simply created a programme that enable people without any prior education or experience with the automotive retail to be engaged and make something for themselves. This Automotive Entrepreneurship programme has been re-designed to equip people with the right technology as well as enable participants increase their income levels by leveraging our services,” he said.
In a keynote presentation at the launch event by Dr. Jumoke Oduwole, Special Adviser to the President on the Ease of Doing Business and Secretary, Presidential Enabling Business Environment Council (PEBEC), she commended the giant strides made by entrepreneurial ventures like Cars45 in deepening economic growth.
“Companies like Cars45 represent the energy of this economy as entrepreneurial activities account for over 48 percent of GDP contributions and therefore are a demography that can’t be ignored. We are not unaware of the challenges that businesses face and we are doing everything within our power to set the economy on the right path. It is important to see every challenge as an opportunity. I am happy that Cars45 is one of the forward thinking and visionary organizations in the automotive space and with the African Continental Free Trade Agreement AfCFTA, I am even more hopeful that deploying technology they would be able to scale and help grow the economy.”
On the National Automotive Industry Development Plan (NAIDP) Bill, Oduwole noted that there are concerted efforts to ensure broad participation in framing the policy. “There is no economy in the world that has developed without having a vibrant auto assembly and production industry because of the catalytic amount of jobs that the sector can create. There is need for a policy that will take us to where we want to be. The auto industry is pivotal and critical to the growth of our economy and so we are taking our time to shape the automotive policy so that we are able to compete with other players on the continent and enable those who have invested resources derive maximal value. We need an auto policy that will be enduring; we don’t want a policy that we will have and after few years, we will need to change it and that is why we are calling for more contributions”, she said.
According to VP, Retail Services, Cars45, John Egwu, the programme is designed to accommodate as many youths that want to be part of the scheme.
“This is a programme that can accommodate all citizens without asking for educational qualifications and very easy to access. We want to give all Nigerians another option of source of income. We are blessed as a country, so we want everyone to marshal their energy towards a new Nigerian economy model that can be self-sustaining for all,” he said.
On how the program works, VP C2B Services, Cars45, Mayokun Fadeyibi, noted that individuals can get started by signing up at www.autopreneur.cars45.com to earn commissions and bonuses on a daily, weekly, monthly and quarterly basis when they successfully refer people to buy and sell cars through the Cars45 network.
“You start as an agent today, grow to become a team leader where you manage about 20 downliners and as you consistently meet your targets, you can become a Cars45 franchise dealer partner. There is a clear and transparent growth path and using technology, people can conveniently track or monitor their progress in real time and online,” she said.
The Cars45 Automotive Entrepreneur launch attracted key players within and outside the nation’s auto industry that included Executive Director, Allianz Nigeria Insurance Plc, Owolabi Salami; Head, Retail Distribution Channels, Allianz, Ashish Mishra; GM, Suzuki, CFAO Motors, Eric Fantodji; Head, Corporate Development, Enyo Retail & Supply, Olabanjo Alimi; CEO, HCS Autos, Kunle Kosile.
Known for bringing transparency to Nigeria’s marketplace for used vehicles, Cars45 has become synonymous with creating delightful consumer experiences by offering people a fast and convenient way to buy, sell or swap their cars.
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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