Business
Economic hardship: Dangote Foundation distributes rice to host communities …shares 40,000 bags in Ogun
Economic hardship: Dangote Foundation distributes rice to host communities
…shares 40,000 bags in Ogun
The Aliko Dangote Foundation (ADF)’s N15 billion National Food Intervention programme has landed in Yewa land as the Foundation commenced distribution of 40,000 bags of rice in Ogun state.
Yesterday, the 17 host communities of the Dangote Cement, Ibese plant, along with Itori, Igbogila, and Ilaro, received their share. Beneficiaries in Ibese and Araromi were accredited and received one bag each at the palace of Aboro of Ibeseland, Oba Rotimi Mulero.
Ijebu-Igbo, the host communities to Dangote Granite Mines will soon receive their allocation as the rice for the area has been delivered in preparation for distribution.
Chairman of ADF and President of Dangote Group, Aliko Dangote, launched the food intervention programme in Kano in March, promising that the Foundation will distribute over one million 10kg bags across the 774 local government areas of the 36 states and Federal Capital Territory, FCT in Nigeria at a cost of about N15 billion.
The Aboro of Ibeseland expressed gratitude on behalf of his communities to the Foundation for its benevolence in distributing rice at this time of economic challenge, saying the gesture would benefit many households where staple food like rice has become scarce.
He likened Dangote’s initiative to Operation Feed the Nation (OFN), introduced by the military government of Chief Olusegun Obasanjo over 46 years ago to revitalize agriculture and ensure food availability for all Nigerians.
Oba Mulero stated, “we are grateful to Alhaji Aliko Dangote. The rice gift is very impressive given the current situation in the country. We really appreciate him. What he has done can be likened to Operation Feed the Nation of those days. That is what I will call it. He has done well to decide to feed the people. Everybody is vulnerable now in this country.”
He continued, “What Alhaji Dangote is doing is worthy of emulation by other well-meaning Nigerians. When food is out of the problem equation, the equation is easy to solve. We are using this opportunity to thank him for this gesture. You can see the way my people are happily receiving it. We pray to God to continue to uplift him.”
The Aboro of Ibese commended Dangote for his job creation efforts through investments. He said the rice distribution to the people of Ibese is like the icing on the cake as the Cement Plant sited in the community has absorbed some of the host communities’ indigenes and that the food palliative would go a long way to cushion the effect of the economic hardship.
He pledged the support of the people to the Dangote Cement, Ibese plant to ensure the company operates in an atmosphere of peace and tranquillity so that the company can continue to benefit the host communities.
One of the beneficiaries, Odunfa Ayodele Adams, an indigene of Ibese on behalf of others expressed appreciation to the ADF. He said it was the first time such a programme would be brought to the Ibese community and prayed to God to give Alhaji Dangote long life to do more for the society.
It would be recalled that Alhaji Dangote while speaking during the flag-off ceremony of the programme explained that the initiative is a crucial step towards alleviating the ongoing economic challenges faced by the country.
He also emphasized the importance of compassion and generosity, stressing that all stakeholders must play a part in supporting the government to alleviate hunger in the land.
“Our distribution of rice symbolizes our commitment to upholding the values of compassion and solidarity, which are at the core of our humanity. ADF has decided to spearhead the food intervention programme,” he said.
On the modalities for distribution of the rice, Dangote said: “the modalities for the programme involve collaboration with state and local governments as well as local community partners to ensure effective delivery of the rice to the most vulnerable across the country, regardless of state, tribe, gender, religion, politics, or other attributes, “he added.
In her own remark then, the Chief Executive Officer of the ADF, Zouera Youssoufou said the rice distribution is in addition to the Foundation’s daily bread relief programme, that is producing and distributing over 32,000 family-size loaves of bread across Kano and Lagos States every day since 2020 following the outbreak of COVID-19 pandemic.
She said: “It is noteworthy that Dangote’s efforts in nutrition strengthening in Nigeria extend well beyond the foundation’s food relief programmes and nutrition activities. The Dangote Group has been actively investing in food fortification across the Nigerian food industry, with its iodized salt, vitamin A fortified sugar, while researches are on-going into micronutrient fortification of staples like rice, wheat, and bouillon cubes”.
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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