Business
Dangote to launch 200 housing units for IDPs in the North East …builds multi-million Naira hostel for ABU
In another rare gesture from a private sector operator to help government in the rehabilitation of Internally Displaced Persons (IDPs) in parts of the insurgency ravaged areas in the North East, the Aliko Dangote Foundation has concluded preparation to commission a multi-billion naira housing estate
The commissioning of the 200 housing units for IDPs in Borno which has been slated for later this month according to the CEO of Aliko Dangote Foundation, Zouera Youssoufou is coming even as the Foundation has also completed the construction of a state-of-the-art hostel in Ahmadu Bello University Zaria.
The 10 block of hostel has the capacity to accommodate 1,440 students conveniently.
Mrs. Youssoufou who made the disclosure at an event in Maiduguri, Borno state stated that the housing units is one of the many critical interventions the Foundation had mapped out for execution in the North Eastern part of Nigeria to restore life to the area and help IDPs live a normal life again.
Governor Kashim Shettima of Borno State while reacting to this development said Mr. Dangote is the single largest benefactor of the IDPs after the Federal and state governments.
The Governor stated that Mr. Dangote’s contribution does not only stop at feeding and clothing the IDPs which he has been doing over the years, it also stretches to resettling and rehabilitating them, a feat no other private organization has been able to match.
Just recently the Aliko Dangote Foundation flagged off its 2018 Ramadan Food distribution in the state with the distribution of food items worth N150 million to some 200 households from Dalori Community in the state. The items include: Rice, Sugar, Salt, Spaghetti, Semolina, Wheat Meal, Maize and Millet.
On the 10 blocks of hostel constructed for the ABU, the Group Executive Director, Stakeholders Management and Corporate Communication of the Dangote Group, Engr. Ahmed Mansur, said the Alhaji Aliko Dangote, the Chairman of the Foundation was not resting on his oars, as he plans to up his stakes in the act of philanthropy.
The Ahmadu Bello University is the biggest university in sub-saharan Africa, and topped the 2018 ranking of Nigerian universities.
Engr. Mansur said no date has yet been fixed for the commissioning of the newly built 10-blocks of hostel and that Group has and would
continue to contribute enormously to the educational sector in Nigeria.
He quoted Mr. Dangote as saying that Dangote Group had spent well over N4 billion in building classrooms, scholarship programmes and upgrading infrastructure across various University among others.
“We have just recently commissioned the Dangote Business School in Kano, the only Business School in Nigeria that is well equipped. We will also be commissioning similar projects in University of Ibadan, we have done quite a lot in the education system and we are looking to do more.
“Investing in the young people to us means, we are all working together to build a better Nigeria. In equipping Nigeria youths and prepare them for the 21st century challenges, we established the Dangote Academy in Kogi State, which provide specialized training and management skills for the youths particularly considering the large man power needed in the manufacturing industries,” he said.
He added: “Our ultimate goal is to promote rapid industrialization of Nigeria, using our own local talents.”
National President of the Ahmadu Bello University Alumni Association, Professor Ahmed Tijani Mora who expressed gratitude for the students’ accommodation further described the President of the Dangote Group Aliko Dangote as a ‘dedicated philanthropist.’
He said the intervention by the Foundation was crucial and timely as the University’s infrastructure was already overstretched.
It would be recalled that only recently, the Foundation donated a well-equipped secondary school valued at N120 million in Lagos.
The Foundation donated a World Class Business School worth N1.2bn to the Bayero University Kano, while building another one in the University of Ibadan, which is due for commissioning too.
Funding was also provided for the construction of a 500 capacity student hostel complex of the University of Science and Technology, Wudil in Kano.
The Aliko Dangote Foundation has instituted several scholarship schemes in its business units across Nigeria. Only last week, the Foundation donated 150 fully equipped patrol cars to the Nigeria Police to aid in combating crimes.
Mr. Dangote had said that the motivation behind his public spirit gesture was because he does not only want to be “known as the Africa’s Richest Man, but the biggest African philanthropist. I will continue to use my resources and my voice to help shape a better Nigeria, and Africa as a whole.”
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
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING
You must be logged in to post a comment Login