Business

NARTO, Dangote Refinery Collaborate on Efficient Products Distribution

Published

5 years ago

August 22, 2021

NARTO, Dangote Refinery Collaborate on Efficient Products Distribution

Road Transport owners across Nigeria have expressed optimism that the 650,000 barrels-per-day Dangote Petroleum Refinery would deepen the downstream sector and positively impact their businesses.

The transporters, under the aegis of Nigerian Association of Road Transport Owners (NARTO) after a guided tour of the refinery Plant in Ibeju-Lekki area of Lagos, said they had no doubt that the project would generally accelerate the development of Nigeria’s oil and gas sector; just as they also expressed the willingness to play a good role in the distribution of refined products from Dangote refinery when it starts operations.

The NARTO leaders commended the President of Dangote Industries Limited, Aliko Dangote for his huge investment in petroleum refining and making the country one of the potential top refiners of petroleum in the world.

Speaking after a tour of the refinery project, President of NARTO, Alhaji Lawal Yusuf Othman, described Aliko Dangote as a trailblazer in the nation’s industrial development, whose contributions to economic development of the nation have helped in reducing unemployment and alleviating poverty.

Othman expressed satisfaction over the quality of construction materials being used for the refinery, saying; “We are impressed with the massive project which has been regarded as the largest single train refinery in the world. The quality of the machines, the size of the refinery, and the quality of the work is of international standard. We are also very happy that there is a plan to construct the road from the refinery down to around Ijebu-Ode. The road construction is going to decongest the roads and make it easy for us to do our business,” he added.

To encourage more players in the downstream sector, the NARTO President emphasised the need for government to deregulate the downstream oil and gas sector fast.

“Many people are not refining because the sector is still regulated. It is difficult to invest billions of dollars into a sector, where prices are determined by government. Deregulation will encourage more players into the downstream sector. When there is full deregulation, government does not neved to force anybody to invest in the sector. Deregulation will attract foreign and local investment in the sector,” he added.

Othman said members of NARTO have been given the necessary assurance that their businesses are going to be protected when the refinery comes on-stream under the Petroleum Industry Act.

He stated, “We came on a tour of Dangote Refinery to assess the level of construction work going on at the site and also to reassure our members that the refinery is going to have positive impact on their business, most especially with the signing into law of the Petroleum Industry Bill (PIB).

“It is expected that there is going to be full deregulation of Nigeria’s downstream oil and gas sector. At the same time, we hope in the coming months, the Dangote Refinery will come into operation.

“As at today, imported petroleum product is distributed across the country through road by our members. We thought that now that Dangote Refinery is coming on stream, the company might be interested in self-distribution of the products across the country without involving us. However, we have been told that the products will be distributed through the depots. So, we will partner Dangote refinery for ease of products distribution across the country

“We have been assured that 70 per cent of the refined products will be transported through the sea, while 30 per cent will be by trucking. Although, the company has a gantry with a loading capacity of about 2,000 trucks per day, we have been assured that Dangote does not have interest in the retail of petroleum products.

“We are certain beyond reasonable doubt that our businesses are going to continue in the downstream sector. Of course, Dangote Refinery is going to produce and distribute through the sea and allow those of us who are into retailing to continue with our business. Now, most of our members have the fear that Dangote may go into retailing and distribution of products,” he added.

NARTO, Dangote Refinery Collaborate on Efficient Products Distribution

Business

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Published

3 days ago

February 19, 2026

Sahara Weekly

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.

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

Bank

Alpha Morgan to Host 19th Economic Review Webinar

Published

5 days ago

February 18, 2026

Sahara Weekly

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.

Business

GTBank Launches Quick Airtime Loan at 2.95%

Published

5 days ago

February 17, 2026

Sahara Weekly

GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

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