Business
Dangote partners German govt on youth training to address skills deficit
Dangote partners German govt on youth training to address skills deficit
…Sanwo Olu woos ADF, VDMA to set up same in Lagos
The Aliko Dangote Foundation in partnership with Germany’s VDMA (the German Association for Mechanical and Plant Engineering) and its Foundation for Young Talent in Mechanical Engineering (NWS) have officially launched a technical training program in Nigeria, in a bid to significantly address the skill deficit in all the key sectors of the nation’s economy.
Speaking at the official launching of the programme on Wednesday, the president of Dangote Group, Aliko Dangote said that the landmark program is a Seven-million Euro investment, a large percentage of which is for the specialized, leading-edge equipment that has been shipped from Germany and installed in five workshops purpose-built for this program at Dangote Academy in Obajana. He also said the beneficiaries will be trained, using these machines, so they can learn practical skills that will be transferable as they enter the work force.
This program, according to him, is the first of its kind in Nigeria, and will be replicated in all the six geo-political zones of the country.
Noting that vocational and technical skills are vital to the well-being of any economy, as key levers for growth, specifically in the manufacturing sector, Dangote said significant skills gaps exist in Nigeria, which is what this program is seeking to address.
According to him: “The trainees that successfully pass through the full vocational training will be prepared as well-rounded professionals. In addition to the technical training, they will also get personal effectiveness trainings of same quality as our staff”
Germany’s minister for economic cooperation and development, Dr. Gerd muller, lauded the Aliko Dangote Foundation and VDMA for the enviable program that can transform and develop the economy of Nigeria. He said his ministry has supported the initiative with €3.6 million and will not hesitate to do more for the purpose of the initiatives to be achieved.
The VDMA past president, Dr Reinhold Fostge stated that “I am very happy that this has become reality eventually in Nigeria. We started six years ago. Four years ago, we signed a memorandum of understanding to establish a Nigerian German training project. This program is to raise the skill level of workers and make the youth employable…our vision in VDMA is that, in future, we should be able to exchange highly skilled professionals between Nigeria and Germany and as a matter of fact, I have no objection to inviting Nigerian specialists to help me in Germany and vice versa”
Meanwhile the Governor of Lagos State, Mr. Babajide Sanwo-Olu, enjoined both the Aliko Dangote Foundation and VDMA to consider citing the second training workshop in Lagos, with a promise to make funds available for the take off this laudable programme.
He said: I am truly excited to be part of this epoch and nation changing event…for us in Lagos, I am happy to announce that we have six well maintained vocational training schools… but we are going to not just talk here today, we are going to be making a public commitment that given what I have listened to now, we are not going to leave this to Dangote Foundation alone, we have to upscale our commitment.
“We wont wait for him to replicate this in the six-geographical zones of the country. Lagos State will work with him and ask the VDMA what level of commitment is required from the state government…to ensure that in no distance future, we can replicate and bring a full arm of the Dangote academy to Lagos State…we do not want government bureaucracy to stall this, if it is to raise finance that is required, I can assure you that Lagos state is ready to that and why are we making this commitment?
“It is because of where we see Lagos… the amount of the teeming youth that we have in our country and our state. Lagos has continued to be the biggest economy in our country and even in Africa, and what this present to us is an opportunity to bridge that will help to significantly reduce the unemployment level in the state”
Congratulating the trainees, Dangote said: “I understand that we chose only 120 of you out of over 4,000 applicants. This means you are smart, you are the best and the brightest, we believe in you, and expect great things from you. I urge you to make use of this wonderful opportunity and become productive for the well-being of our country.”
He also promised that more youth will be admitted and very soon, all the six geo-political zones of the country will witness massive development through the scheme.
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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