Business
Ekiti attracts $500 Million World Bank Projects in 4 years – Fayemi
Ekiti attracts $500 Million World Bank Projects in 4 years – Fayemi
– As Ekiti NEWMAP beat 22 others to emerge overall best
By Olorunfemi Adejuyigbe
Ekiti State Governor, Dr Kayode Fayemi, on Wednesday said the state has attracted about $500 million to prosecute various projects under the World Bank assisted programmes, within the last three and a half years.
Dr Fayemi stated this while receiving an award presented to Ekiti State Nigeria Erosion and Watershed Management Project (NEWMAP), for emerging the overall best in Tier- 4 of the World Bank project ahead of 22 other benefiting states.
The Governor, who commended the Ekiti NEWMAP for its exceptional performance in the World Bank Assisted Projects, listed some other World Bank Assisted Projects to include Nigeria Rural Access and Agricultural Marketing Project (RAAMP), SEPIC, Third National Urban Water Project, European Union support, IDEAS, AGILE and SAWASH among others.
He noted that NEWMAP activities were visible in no fewer than nine communities in the state, with the construction of bridges and channelization of drainages adding that Ado and Efon projects would soon start because the state has been able to procure the European Investment Bank support to prosecute the projects.
The Governor promised to present the draft law of the Project to the state Executive Council for effective consideration and ensuring that it goes through the process to achieve its enactment into law by the state House of Assembly.
“No State has the number of World Bank supported projects that we have either during my first term when we were able to attract the SEPIC project for education and the third National Urban Water Project that we used in rehabilitating both the Ireje and Ikun Dams as well as the European Union support that helped us to rehabilitate the Egbe Dam.
“Since I returned in 2018, we have had NEWMAP, RAAMP, IDEAS for all our Technical Colleges, we’ve had AGILE for our women and Girl Child support, we’ve had SOMEO, we’ve had Malaria project for health and then we have SAWASH
“A lot of my colleagues are always asking, how come Ekiti is always doing projects, because people don’t believe that we don’t have money. We are able to attract these because we are resourceful and we are also able to convince these institutions that we will deliver on the money and we would ensure that these projects are done on time and on cost.
“And if you put it all together, we have received these four years almost $500 Million worth of project support from the World Bank in Ekiti alone. And ours is significant, people may not know the impact of that, for many of it, we have to put in our counterpart funding because they require us to do that to show commitment but every state wants to be on this programme but not every state has been able to make it. And when you put in this level of support, at least a third of it is grant-aided, its free money, two thirds of it is concessional lending to our state, its almost free money, because we have it in most cases with 5 to 10 years moratorium and when we eventually start to pay back, we are paying with 1percent interest rate.” He said.
Earlier, the Ekiti State Project Coordinator of NEWMAP, Dr Akinyemi Akinyugha, expressed his appreciation to the Governor for ensuring the success of the projects in the state through his support right from the onset of the programme.
Dr Akinyugha however solicited for the enactment of the laws backing the activities of the projects as well as official recognition of every member of the team by way of commendation.
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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