Business
How Jonathan spent huge cash to ensure PDP’s victory over Ambode in 2015 – Tinubu reveals
The national leader of All Progressives Congress (APC), Senator Bola Ahmed Tinubu, wednesday disclosed that former President Goodluck Jonathan spent huge amount of money to stop Lagos State Governor, Mr. Akinwunmi Ambode, from being elected in the 2015 elections.
Despite Jonathan’s sustained struggle to take over the state, Tinubu acknowledged that party members stood by Ambode and the APC during the election.
He described the period as the most challenging since he left his flourishing career in a multinational oil company for active politics.
He gave an account of how Jonathan struggled to take over the state at a stakeholders’ meeting he addressed at the APC secretariat, Ogba alongside Ambode, Speaker of the state House of Assembly, Hon. Mudashiru Obasa, and the party Chairman, Chief Oladele Ajomale, among others.
The party convened the stakeholders’ meeting, which was the first of its kind since the 2015 elections were concluded to chart a new path for the local government election scheduled to hold on July 22 and resolve all issues that might give rise to disaffection and internal rift ahead the electoral process.
At the meeting the party faithful attended across the state, the national leader specifically, commended all party members for supporting Ambode in the 2015 election, noting that the candidates of the party for the forthcoming local government elections should also be supported.
He said the 2015 elections were the most challenging, recalling how the Peoples Democratic Party (PDP) and Jonathan moved “to take over the state by all means including spending huge cash, but the APC members resolutely stood their ground and ensured the victory of the party.”
With the support of the people, the national leader said Ambode won the election and had not let the APC down in any way, thereby citing the governor’s sterling performance.
Tinubu said Ambode “has not let us down. He is doing a fantastic job, in an environment where there is economic recession is a big challenge. Initially, they said he might not be able to do it, but he is doing it and doing it perfectly. He has a very good team of performers. It takes a leader to lead a team to victory and a leader to think and dream. He thinks and performs and he is doing a great job, we are very proud of him.”
On the council elections, the national leader urged party members to accept the decision, which he said, had been taken by the party leaders at the state and local government levels with respect to the forthcoming election.
He said 18 chairmen, who were promised automatic ticket for their efforts in the party and the state, would be allowed to return, while all sole administrators who took over from executive secretaries of 20 local government areas and 37 local council development areas would not be allowed to contest.
Also, the national leader urged party leaders and members in all the 57 councils to give special concession to youths and women and party leaders in Surulere to give peace a chance and drop all forms of public disorder.
However, he said the party would not disallow members, especially executive secretaries from pursuing his/her aspiration, noting that doing such would amount “to denying them their rights having left office more than a year ago. It is just like saying Ambode or senators and other party leaders should not be allowed second term.
Also at the meeting, Ambode charged all party members in the state “to ensure that the party wins all available elective positions in the forthcoming council elections.”
He said it was important for the party to come out top in the elections, adding that it would go a long way to ensure that the state continues to make steady progress.
The governor attributed his success in the 2015 governorship elections to the dedication of party members and chieftains of the party, especially the national leader, thereby charging them to rally round the party yet again to ensure victory for the APC in the polls.
“Almost two years after, we have caused to thank God. I am able to look back that the confidence you give me two years ago and all of you working together to make sure I defeated the PDP candidate was no small feat. I have come here not only to attend this meeting but to say a big thank you to all of you.
“I want to thank you for being the first set of people that believed in me and thereafter God has been so gracious, he has not allowed me to disappoint u. I want to say a big thank you to Tinubu, the state APC Chairmen and Exco members for supporting that course.
“If there is any party remaining in Nigeria today, that party is manifested in all the good things coming out of Lagos State. Why are we here? We are here to count our blessings and renew the course of unity to move forward as one great party.
“I want to implore all of us, whatever it is that would have transpired, it is very clear that the next council elections is all in your hands; just the same way we have done in the last two years. My call to all members of our great party is that all 57 councils must be won by APC without exception,” Ambode said.
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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