Business
Niger Delta Avengers blow up Pipeline in Akwa ibom
THE Niger Delta Avengers, NDA, which vowed on Monday to continue to obstruct all avenues by President Muhammadu Buhari to export crude oil because of his refusal to address its demands, blew up the Qua Iboe 48-inch oil crude oil export line belonging to Exxon Mobil in Akwa Ibom State in defiance of him. Que Iboe returned to operation after a month long force majeure in June, buoyed by the now aborted ceasefire between the Niger Delta Avengers and government, but the militant group, which claimed responsibility for the attack, wondered why the International Oil Companies deceive themselves with government’s false sense of security. Spokesperson of the group, self-styled Gen. Murdoch Agbinibo, said: “At 7:30p.m., the Niger Delta Avengers blew up ExxonMobil Qua Iboe 483 crude oil export pipeline. When will these International Oil companies learn to listen, we (Avengers) said no export.” Qua Iboe which crude oil grade stood at a $0.90 per barrel premium had witnessed strong trade interest since the release of its provisional August programme on June 27.
Same day, Shell Petroleum Development Company, SPDC, shut down the Trans Niger Pipeline, one of the two major pipelines that carries the Bonny Light crude grade for export following an outflow in Gio, Ogoni land, Rivers State. The company had only last week resumed export on the pipeline after almost two months of force majeure, following the restoration of production to Bonny Terminal. Officials said the company was working on a joint investigation into the leak on Trans Niger Pipeline. However, the militant group, which said it was closely monitoring repairs on damaged pipelines, attacked the Nembe 1, 2 and 3 Tedeba Brass trunk lines in Bayelsa and Rivers states on June 8, after the company carried out repairs on leaking Nembe Creek Trunk Line, NCTL. It also bombed the Forcados 48-inch Crude Export Terminal in Delta State afresh, last month, because Shell flouted its order not to carry out repairs of any sort on its installations damaged by the militant group until government addressed its demands. Series of deliberate attacks on facilities of Chevron Nigeria Limited and Nigeria Agip Oil Company, by the militant group to stall export had also hampered oil production by the companies. Vanguard learned that the gain of the temporal ceasefire by militants, which saw an increase in oil export, has disappeared with the recent attacks.
The militant group, it will be recalled had said: “Until President Buhari takes our demands seriously and set up a genuine framework to address the Niger Delta question, we will continue to obstruct all avenues to export our crude oil to develop his 97 per cent (95 per cent). In fact, whenever we have any contact to establish a genuine negotiation and dialogue, we will not hesitate to let the world know that we are in dialogue with the government and her representatives.” The armed forces are reportedly considering the next line of attack against the Avengers. The Chief of Army Staff, Lt-Gen Tukur Burutai, and other security chiefs are not disposed to dialogue with militants. They are supposedly mobilizing for a combined fresh offensive by all the relevant security agencies.
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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