Business
Dangote Refinery partners Content Board on Oil Sector Research, Development
Dangote Refinery partners Content Board on Oil Sector Research, Development
Dangote Refinery-Dangote Oil Refinery has thrown its weight behind the efforts by the Nigerian Content Development and Monitoring Board (NCDMB) to promote the critical issue of Research and Development (R&D) in the oil and gas sector of the country.
To underscore its’ readiness to join hands with the Board, Dangote Petroleum Refinery. said it decided to sponsor the 2nd Edition of the NCDMB Research & Development Fair and Conference 2021, which took place in Yenagoa, Bayelsa State recently and would be willing to partner to ensure the Board succeeds.
Already, Dangote Oil Refinery management disclosed that it had selected six graduates across the six geopolitical zones in conjunction with NCDMB to take the MSc and/or Ph.D. programs at the Ahmadu Bello University, Zaria for Research & Development in Zeolites ZM5in.
With the theme: ‘Creating Sustainable Collaboration in Research and Development for the Energy Sector, Dangote Refinery said the conference created a convergence of researchers, industry players, investors, finance enterprises, and manufacturing companies to identify patentable or commercially viable products resulting from R&D activities.
The R&D fair also afforded Dangote Oil Refinery the opportunity to showcase its 650,000 barrels-per-day single largest train refinery project and what the company has done in terms of Research and Development during the construction of the refinery.
Speaking during his visit to the Dangote Oil Refinery exhibition booth at the fair and conference, Executive Secretary, Nigerian Content Development and Monitoring Board, Engr. Simbi Wabote commended the company for showing support to the board by participating in the fair.
He expressed the need for companies in the Nigeria oil and gas sector to start nurturing the growth of the country’s home-grown technology rather than just being wholesome consumers of other people’s innovations.
In his opening remarks, he stated, “Analysis of global practices of Research and Development revealed that the combined R&D spend of just five countries makes up 63.5% of the entire global R&D spend. These five countries, namely the USA, China, Japan, Germany, and India were also observed to have accounted for over 50% of the global Gross Domestic Products.
“Africa, on the other hand, accounted for less than one percent (1%) of the global R&D spend while its GDP is only 3% of the global GDP. You will agree with me that there is a nexus between the spending on Research and Development and economic prosperity,” the Executive Secretary added.
Wabote said from time immemorial to the current age of global connectivity, R&D always played a crucial role in opening up new chapters of modern life.
He listed some of the accomplishments of the board to include the establishment of the Nigerian Content Research and Development Council to advise the Board on matters relating to research and development in the oil and gas industry and the Development of the R&D 10 Year Strategic Roadmap.
The minister, represented by the Permanent Secretary, Nasir Sani-Gwarzo, also called on industry stakeholders and youths across the country to take advantage of the NCDMB R&D center to bolster adaptation of existing solutions and also come up with new ones to address major challenges in the industry.
The Bayelsa State Governor, Douye Diri, represented by his deputy, Lawrence Ewhrudjakpo, said the theme for the fair captures stakeholders’ collective commitment to aggressively drive innovation and position the oil industry on the path of an integrated energy sector, where field development and production solutions are sourced through local capabilities.
He emphasized the need for private sector operators to invest in research and development. “It is important, however, to clear up a certain misconception: The funding of research is not the sole responsibility of National Governments; rather, big spenders on research and development globally come from the private sector,” he added.
Beyond financial intervention, he urged the oil and gas industry players to challenge the local academia with its research problems, to ensure the development of homegrown technology and the retention of oil and gas spending in the economy.
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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