Business
MasterCard Foundation partners EDC to train and create 200,000 Jobs
MasterCard Foundation partners EDC to train and create 200,000 Jobs
…Releases website to register
In bridging the unemployment gap among the youth, Mastercard Foundation in collaboration with Enterprise Development Centre (EDC), since last year has commenced training of Nigerian youths with a view to creating a minimum of
200,000 jobs in the next five years.
The director, Enterprise Development Centre (EDC), Pan-Atlantic University Mr. Peter Bamkole, who revealed this on Monday said that the program is to train 200,000 Nigerian youths, over a period of five years.
He stated that the whole idea of this initiative is “…as we train and build their capacity, we will equally support them and at the end of the day, they will create at least another 200,000 jobs.”
Bankole said it is a free training program aims to boost employment creation and sustainable livelihoods, saying that “This program is open to all and is primarily focused on Lagos, Kano, and Kaduna states. Through this program, 40,000 young people will be supported with the resources and learning required to start, grow, and expand their businesses every year for the next five years.
He said: “The program will also provide support and resources to young people who want to become employable in the creative and agricultural sectors.
According to him: “… the idea is that as we train them and build their capacity, we will equally support them as they create a minimum of 200,000 jobs…the programme has so far been transformational. They people present today are a very small segment of over 10,000 that have already benefitted from this programme and we urge Youths who are yet to join this programme to please get on board, go on http://reg.smetoolkit.ng/
He assured that: “This programme will transform you, help you get the knowledge and even more than that, we will support you to make small and big milestones in your growth plan…and after that, you will also have access to funding as we already have partners to get that sorted…Sterling Bank is one of our key partners and for those in Lagos we have the Lagos State Employment Trust Fund (LSETF) as well…the financing will be on 9% interest rate per annum, which is very good and will only be ,made available when u have attended this programme…”
Also, Country head of Mastercard Foundation in Nigeria, Chidinma Lawanson, said “This initiative will prepare and enable young people to pursue their aspirations and create productive livelihoods for themselves and others.”
She noted that “We at Mastercard Foundation, are very strong on capacity building and financial inclusion. So, we have had interventions across more than 100 countries but in 2016, when we clocked 10 years, we went through an internal strategy to come up with what we called Young Africa Works strategy, which is unlocking employment and entrepreneurship opportunities for 30 million young Africans by the year 2030.”
She stated that “All the indices in Nigeria shows that if you want to target the youth, age 18-35 , agriculture is a strong area for Nigeria, which create about 60 per cent work opportunities. There are a lots of value chain in the agricultural spectrum and the second space where the youths really want to be is the creative industry and they are the second largest employer of labour for youth in Nigeria.
“We look at partners who can implement on our behalf, because the foundation does not implement, so we look for credible partners who have the expertise to train youths. Now this transforming youth projects with EDC is for five years and we collaborate with them, with their expertise and learning modules and we can boldly say, so far, so good, with the growth and trend we have experienced.
Also, executive secretary of Lagos State Employment Trust Fund (LSETF), Teju Abisoye said that Lagos State government mandate is to tackle unemployment, saying that unemployment rate is Nigeria is 40 per cent and Lagos alone has 7.14 per cent, which was estimated to over seven million people to be out of job,
She noted that this calls for urgent attention, saying that “Our job is how do we strategically deal with unemployment issues and tackle poverty, and we have been doing a lot on this in reducing unemployment rate.”
“We will continue to represent a credible pipeline of people that can get access to funding and see how we can create a program or a process that is much faster. So as soon as you are done with your program, the funding is almost automatic, as long as you bring the required processes required.”
According to her, the grant ranges from N50,000 to N5 million depending on the nature of the business. “We are excited about this initiative, supporting businesses in the next five years for resident and those based in Lagos state is very exciting to us.”
The deputy director, Programmes, NYSC Skill Acquisition and Entrepreneurship Development (SAED), Mrs Rachel Idaewor stated that NYSC entered into skill acquisition and entrepreneurship development in 2012 because “We realized that there was a need for a skill acquisition and entrepreneurship department…When we started, we have partnerships with various organisations. EDC approached us in 2020 and it has been a transforming programme and we are positive that this partnership will enable Corp members to have access to first class training in entrepreneurship,” she said.
Mastercard Foundation and the Enterprise Development Centre (EDC) launched the Transforming Nigerian Youths program in 2020 and applications are open for young Nigerians, especially women within the age range of 18 to 35.
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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