Business
Guinness Nigeria unveils 2016 sustainability report, outlines future goals
Nigeria’s foremost total beverage alcohol company, Guinness Nigeria Plc, has released itsSustainability Report for 2016, reporting its performance on various aspects of its operations, while outlining its sustainability targets for the future.
The report was unveiled in Lagos on Wednesday, 15 February, 2017, at a formal ceremony attended by various stakeholder groups and partners such as the Federal Road Safety Corps, The Lagos Business School, Water Aid, Institute for Industrial technology (IIT) and Diageo’s Global Sustainable Development Director, David Croft amongst others.
The Sustainability report, titled, Sustainability: From Grain to Glass, is an 87 paged report that covers “our performance in the reporting year July to June, 2016, and focuses on material issues critical to the sustainability of our business. We consider an issue material if it could potentially have a significant impact on our business performance or our business leadership position. The report also captures the strategy we will be leveraging to achieve the Sustainable Development goals we have set out to attain,” excerpts from the report stated.
It further added, “Every year, we set ourselves stretching targets that will guide us as we work to reduce our negative impact on the environment. We also strive to increase our positive social impact by delivering transformational social investments in communities where we operate. This report captures our achievements in the 2016 financial year.”
Managing Director/CEO of Guinness Nigeria Plc, Mr. Peter Ndegwa noted that the overarching ambition of the company is to become the best performing, most trusted and respected consumer Products Company in the world. He further observed that the attainment of this goal will be futile if a commitment to society is not at the heart of the business.
“The Sustainability Report we are here to launch today is one of the ways we measure our progress against the sustainability and responsibility targets we have set for our organization. The report also serves as an expression of our continuing commitment to embedding sustainability into our daily interactions and operations,” he said.
Ndegwa said Guinness remains committed to helping Nigeria meet her Sustainable Development Goals (SDGs) targets, especially in the area of providing access to water and sanitation for the majority of the people. In this regard, the company has made significant investments, he disclosed.
David Croft, Global Sustainable Development Director, Diageo Plc said: “Overall we are proud of the progress made. Guinness Nigeria’s Sustainable Development strategy which aligns with Diageo’s global strategy is underpinned by three main pillars: Leadership in alcohol in society, building thriving communities and reducing environmental impact. Delivering on these goals is an integral part of our long term business strategy and our commitment to making a real difference in communities where we operate.”
Major highlights from the 2016 report include notable social investments in the Guinness Eye Hospitals, the flagship Water of Life scheme and the Undergraduate Scholarship scheme, which has opened doors of opportunity to many young Nigerians. Guinness Nigeria also continued to make notable economic impact in Nigeria. In the 2016 financial year, the company paid over N16 billion in taxes ranging from VAT, employee taxes, Corporate Income Tax, Excise Duties and other taxes
Moving forward, the company outlined strategic objectives the attainment of which will put it in better stead to serve its key stakeholders as well as help to strengthen corporate reputation and build a sustainable business.
In the area of business performance, the company aims to optimize return on investment for its investors and shareholders through good corporate governance and by implementing the plans that underpin its performance ambition. Product quality will be sustained through unwavering commitment to providing consumers with beverages that meet the highest standard of quality.
In the area of innovation, the company said it will continue to leverage on its world class innovation platforms to create high quality products for our consumers, while maintaining an enabling work environment for its employees. In the area of environmental performance, the company said it remains committed to ensuring that its products, processes and operations are safe for the environment.
Its corporate social investment will remain focused on impacting lives positively while enhancing the wellbeing of host communities. The company will continue to sustain initiatives that promote responsible consumption of alcohol and prevent underage drinking and also ensure strict adherence to the principles of responsible marketing of its beverage brands.
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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