Business
I DEMAND NOTHING BUT THE BEST FROM YOU, AMBODE TELLS NEW CABINET MEMBERS
…Says Completion Of On-Going Projects, Activation Of New Ones Remain Immediate Priority
Lagos State Governor, Mr Akinwunmi Ambode on Monday swore-in five new members of the State Executive Council with a charge on them to hit the ground running and offer only the best of services to the people.
Speaking at a brief swearing-in ceremony held at the Lagos State Executive Council Chambers in Alausa, Ikeja, Governor Ambode said the new cabinet members were appointed based on their track record, expertise and experience, and as such they must immediately settle down in office and inject new ideas to reinvigorate and reenergize government machinery to the overall benefit of the people.
Addressing the appointees, Governor Ambode said their immediate mandate is to see to the completion of all on-going projects and activation of new ones to make life better and comfortable for the people.
“As you settle down to your new assignments, I demand nothing but the best from you. Your immediate task as you hit the ground running is to quickly bring yourself up to speed with the mandate of your MDA and key into the immediate priority for this year which is the completion of all on-going projects. This, however, does not preclude the initiation of new projects that are considered highly essential and critical to the general well-being of our people,” the Governor said.
Specifically, Governor Ambode said the appointees must be mindful of the fact that the greatest asset of his administration is the goodwill of the people which cuts across all segments of the society, saying that he remained committed to sustaining the goodwill by upholding the policy of inclusion and implementing programmes and projects which in turn would positively and directly impact on the livelihood of all residents.
The Governor said making Lagos work for all was a 24-hour job which required selfless service, hard work, dedication and an uncompromising focus on the improvement of lives of all residents, a development he said necessitated the vision of his administration from inception to build a clean, safe and prosperous State guided by the rule of law, as well as a globally competitive smart City.
According to him, “As simple as it sounds, this is a tough task but I am happy to state here that the job has been made uncomplicated because we have the best team working together to achieve this vision. Today, we are delighted to welcome on board the newly sworn-in members of the State Executive Council.
“You are joining a winning team of committed professionals and politicians who have been working round the clock for the past 32 months to make Lagos functional, efficient and a haven for business, tourism, entertainment and sports.”
He said the achievements so far recorded were massive but a lot still needed to be done to achieve the desired vision and moving the State forward on the path of sustainable growth, which was why the government was injecting new ideas with the appointments to reinvigorate government machinery.
Governor Ambode said as members of the Executive Council which is the highest policy making body of the State and also charged with the responsibility of implementing government programmes through the various MDAs, he expects the new appointees to bring their knowledge, expertise and experience to bear on the mandate of the Ministries to which they have been assigned and the overall vision of the present administration.
Besides, Governor Ambode commended former members of the State Executive Council for their dedicated service and contribution to the achievements so far recorded by this administration, just as he also appreciated the leadership and members of the House of Assembly for ensuring due diligence and speedy confirmation process for the new Cabinet members.
The newly appointed cabinet members are Commissioner for Science and Technology, Mr. Hakeem Fahm; Commissioner for Transportation, Mr. Ladi Lawanson; Commissioner for Economic Planning and Budget, Mr Segun Banjo; Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye; and Special Adviser on Communities and Communications, Mr. Hakeem Sulaiman.
Responding on behalf of the appointees, Oladunjoye thanked Governor Ambode for finding them worthy to be part of a robust administration which, according to her, had been implementing projects and policies in all sectors of the State, assuring that they would key into the vision and mission of government and offer nothing but the best to move Lagos forward.
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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