Business

Festival of India : A Huge Success

Published

10 years ago

August 17, 2016

“This is the most colourful phenomenon I have ever witnessed in my life!” Exclaimed Bamidele, a Lagos based banker, who had shared the fun filled weekend with his family.

The much-anticipated Festival Of India has come to stay. Period! The parade was a total showstopper, as three gigantic hand pulled chariots from the ancient city of Orissa towered high into the Lagos skyline. Only a cluster of birds flew higher. But wait, these were not birds at all; they were drones -cameras in the skyes! After all this was the only way the event could have been filmed. The parade was a human sea stretching as far the eye could see.

Igbokiti from Western Nigeria slugged it out with the Kerala Samaj – an ethnic group from Southern India. While the Durbar Horsemen raced with their Punjabi counterparts from Northern india – heavily bearded, Powerbiking, turbaned and screaming Punjabis who added spice to the blend! What entertainment! This showstopper could be Nigeria’s premier international tourist attraction. The Igbokiti cultural group won 1stprize in the Parade category, while the Oriya Samaj won 1st prize in the Chariot Design category.

But we’ve only just started! What about the Indo-Nigerian EXPO that followed? And the concert nko? Phase two of the Festival was an international EXPO, with up to one hundred and fifteen corporate bodies, ethnic exhibitors and retailers taking stalls at the TBS grounds. The Lagos Ministry of Commerce also accompanied 15 SMEs to the venue, to help showcase their works in the international arena. Sponsors like MTN, Airtel, GTB, Godrej and Z-World were bustling with activity. The food court occupied a section of the grounds and you could buy anything from Briyani, capatis, assorted masalas, you name it. Honestly I was a bit of a greedy pig. I asked for a takeaway pack so my wife would know what she just missed! As I moved along the stalls I encountered the much-advertised fashion and jewelry section. Yes, all those Bollywood sarees, Punjabi suits, trinkets and whatnot where all available at affordable prices. All the stalls of the Festival of India were beautifully decorated and the prize of best stall went to the Rajasthani Samaj. A word of advice to the organisers here. Never plan such an event in the rainy season. Twice it started drizzling and I was afraid for the worst. Luck shinned on them that Saturday. But it was risky.

Finally dusk ushered in the final leg of my adventure at the Festival Of India – the concert. The performances began with colourful children from the various Indian Samajas and cultural shows from all over India. Up-and-coming acts like Aditi (Nigeria) and Pandey (India) were also given an opportunity. Pandey surprised and thrilled the Nigerian audience with his rendition of Emergency from Dbanj and other Nigerian songs in Nigerian languages. Top Bollywood star, Yuvika and Anup Jalota, as well as Nigeria’s Sammy Okposo, Tee Mac and his Gold Convention, Ara and Pasuma were in a class of their own. Nollywood personalities such as Desmond Elliot, Tina Mba and Saheed Balogun to name a few, spent precious moments sharing thoughts with their Bollywood counterparts in the special Artists’ green room.

The surprise of the day must have been when Yamuna, a Nigerian dancer (Eastern Nigeria), who had studied in India, took the lead in the Indian classical dance category. Yamuna was brisk and controlled, with intricate finger gestures, characteristic of the complex Kathak style. Even the Indian audience was held spellbound by her footwork. Yamuna had chosen a particularly difficult repertoire and I believe this is what earned her the title. While Nigerians await medals in the ongoing Rio Olympics, we’ll just have to make do with this! Well-done madam for making us proud.

I interviewed Bolaji Rosiji, Chairman of Gaurapad Charities (the official sponsor of the Festival) and Chairman of the Festival organizing committee. He had this to say: “Now that the festivities have taken off, we’re asking Nigerians to please join us as we embark on a collaborative project for the revival of our SMEs in Lagos State. We need to come out of this unprecedented economic crisis by building Nigeria from the bottom up. The largest economy in Africa (Nigeria) and the second largest SME network in the world, India, will partner for mutual benefit.

Business

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Published

2 days ago

February 19, 2026

Sahara Weekly

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.

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

Bank

Alpha Morgan to Host 19th Economic Review Webinar

Published

3 days ago

February 18, 2026

Sahara Weekly

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.

Business

GTBank Launches Quick Airtime Loan at 2.95%

Published

4 days ago

February 17, 2026

Sahara Weekly

GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

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