Business
New Militant group emerges, promises to blow up refineries
The last is yet to be heard on the militancy in the Niger Delta as another group has emerged.
This time, the group which prides itself as Niger Delta Greenland Justice Mandate, NDGJM, has threatened to bring down the Refinery in Eleme, Port Harcourt, Rivers State, as well as the Warri Refinery.
They equally vowed to bring down the Utorogun gas plant in Otu-Jeremi in Ughelli South Local Government Area, Delta State in few days should the federal government fail to listen to them.
Making their grouse known, the group which is not happy with on-going negotiations with other militant groups said, “the federal government and oil companies have started yet another round of negotiation with the Ijaw front, in the name of all the people of the Niger Delta. This will not work.”
They have, therefore issued a 48-hour ultimatum to oil multinationals still in the upland of the region, especially in the Ogba/Egi axis of Rivers state, Urhobo/Isoko/Ndokwa axis of Delta state and other upland oil producing areas to evacuate their personnel.
They decried that all the people of the upland Niger Delta, under whose watch the largest and most critical oil assets are located, have been ignored over the years as government and the oil companies pander to every whim and cough of those who have violently engaged the state.
In a statement by its Spokesman, self-styled Gen. Aldo Agbalaja, he declared that “We have keenly watched developments in the country in recent times, developments that are most depressing, very much depicting the marginalization and subjugation of the hapless people of our region.
“We have thought very deeply about the ongoing shenanigan and play-acting going on between the federal government and some self-styled ‘Niger Delta agitators’ and thought if we fail to make our own statement now, then there will be no future for the larger Niger Delta region.
“For the avoidance of doubts, the Niger Delta Greenland Justice Mandate is not in the mold of the various criminal gangs that have so far paraded themselves as fighting for the interest of the people of the Niger Delta, but who indeed have been engaged in fight for personal enrichment.
“We are not one of them. We are out to tell the world that there is a Niger Delta that is made up of many tribes and tongues, the people of whom have so far suffered both local and national oppression.
“We have come at this point to ensure that our oppressors, being the federal government, the state governments in the six core Niger Delta states who have received billions of dollars over the past years but have brought little or no development to the region and the so-called super-ethnic nations, who have yielded to greed and wickedness and have exposed the rest of us in the oil-rich, but deeply impoverished region, to crippling squalor.
”The Federal government and the oil multinational companies have been making a very grave mistake by equating the interest of the Ijaw people as that of all the tribes of the region. Indeed, this is a mistake that is about to take a more devastating toll than has ever been seen or experienced in the history of Nigeria.
“Any moment from now, we shall be making a loud statement which we believe should be loud enough for all to see and take seriously and then afterwards state our demands.
“We have considered this ‘coming statement’ reluctantly inevitable because of the recalcitrance of federal authorities, as well as oil giants; they both have decided to ignore calls to reason and have made violence the only option.
“Just as in the 2009 experience, the federal government and oil companies have started yet another round of negotiation with the Ijaw front, in the name of all the people of the Niger Delta. This will not work.
Since they do not regard the assets in our areas important enough to be protected, we shall root them all out of the length of the Niger Delta. We don’t want to make this mistake any longer, violence pays as it has become the only voice that government gives hearkens to.
“Finally, we are asking all the oil multinationals still in the upland of our region; AGIP, TOTAL, SHELL, MOBIL, SHORELINES, NECONDE, E.D WESTERN, SEPLAT and others to commence the evacuation of their personnel from the region, especially in the Ogba/Egi axis of Rivers state, Urhobo/Isoko/Ndokwa axis of Delta state and other upland oil producing areas, within the next 48 hours.
“We also want to bring it to the attention of the federal government and the NNPC that the refineries in Warri (Urhobo land) and Port Harcourt (Eleme) and the gas plant in Otorogun will all come down in few days from now.
“We just hope that the Nigerian government will continue ignoring us so that we can perfect what those in the riverine area started”.
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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