Business
MY ECONOMIC REFORMS ARE ANCHORED ON EASE OF BUSINESS, COLLABORATION, AND CONSTANT PERFORMANCE ASSESSMENT, PRESIDENT TINUBU TELLS NESG
MY ECONOMIC REFORMS ARE ANCHORED ON EASE OF BUSINESS, COLLABORATION, AND CONSTANT PERFORMANCE ASSESSMENT, PRESIDENT TINUBU TELLS NESG
President Bola Tinubu has reaffirmed his support for a robust public-private sector partnership to grow the economy, saying that his administration’s sustained, bold and coordinated reforms are anchored on a “strong adherence to accountability and transparency.”
Speaking at an audience on Thursday in Abuja with members of the Board and Management of the Nigeria Economic Support Group (NESG), the President reiterated his unequivocal resolve to fully implement the eight priority reform areas under the Renewed Hope Agenda within the next three years.
The President emphasized that Nigeria is blessed with rich human and natural resources, in addition to deficit opportunities, which can quickly be leveraged into new prosperity, calling for the urgent exploitation of Nigeria’s diversity for collective gain, with an eye on new think tanks in the agricultural sector and the establishment of a commodity exchange.
“We have gone through the past. I will not look back. The focus of my horse and my race remains forward-looking. We have an abundance of knowledge and untapped mineral resources and an agricultural sector that is God-given, but we tend to shy away from taking those gigantic steps that will result in prosperity for our people. We are not exploiting our diversity for prosperity. We are at each other’s throats, arguing about unnecessary things, instead of thinking and doing for our people,” the President said.
The President noted that he was elected on a “no excuses” platform for renewed hope and that he would not accept excuses from anyone in his government as they set out to deliver on his agenda.
“Looking backwards is retrogressive for any reformer. Looking forward, I can give you the leaps that will propel you in the right direction. We need think tanks in the agricultural sector. I don’t see why Nigeria will be so blessed with good soil and not have a commodity exchange. I don’t see why we have not been able to interrogate our real estate sector and propel it.
“I don’t see why we have not used consumer credit to build the purchasing power of our people and the capacity of our very own manufacturing sector,” the President assessed.
While commending the NESG for believing in the reforms of his administration, the President said the “bitter pill” must be administered to an ailing nation and economy to build a better future for the country.
“I am here, and I believe we can do it together. No single person succeeds alone. The world is dynamic. We are confronted with climate change and other challenges, but somewhere in the eye of the storm, there is a quiet and peaceful corner for those who can toil well. With patience and determination, we will succeed,” the President assured.
The Chairman of NESG, Mr. Olaniyi Yusuf welcomed the economic reforms announced by the Tinubu administration, specifically with respect to fuel subsidy removal, foreign exchange rate harmonization, food security, and palliativessub-national governments.
The NESG Chairman pledged that the NESG would work with the newly inaugurated cabinet to achieve the eight-point agenda of the administration.
“Your track record in the effective implementation of bold economic reforms as the Governor of Lagos leaves those of us in the private sector without doubt that you will achieve much greater feats as our nation’s president,” the NESG Chairman confided.
He used the occasion of the courtesy visit to formally request the President to declare open the NESG Summit in October, as well as to direct Heads of Ministries, Departments and Agencies (MDAs) to partner with them and participate fully at the Summit as part of efforts to ramp up local and foreign direct investment in Nigeria.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
August 31, 2023
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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