Business
Ogun Set To Sign MoU With OPS On Olokola Deep Seaport
Ogun Set To Sign MoU With OPS On Olokola Deep Seaport
The Ogun State Government and the Organised Private Sector (OPS) have concluded plans to sign a Memorandum of Understanding (MoU) on the construction of the Olokola Deep Seaport located in Ogun Waterside Local Government Area of the state.
Governor Dapo Abiodun made this known during a breakfast meeting with Chief Executive Officers of the OPS in Abeokuta, the state capital, on Wednesday.
Governor Abiodun noted that the construction of the Olokola seaport would provide another opportunity for companies in the state to move their goods and equipment in addition to the Gateway Agro-Cargo International Airport, which is almost on completion stage, and the planned Dry port to be located at Kajola, an outskirt of the state capital.
Prince Abiodun said: “I want to share with you the fact that whilst we are talking about our road, rail and air transport, we will be signing very soon a Memorandum of Understanding with the private sector players for the construction of our seaport in Olokola.
“This is another giant step to ensure that we enable businesses to continue to thrive in our state.”
The governor said that his administration is working towards putting an end to the multiplicity of taxes in the state, adding that the reforms already put in place by the Ogun State Inland Revenue Service would definitely put pay to the issue.
He also urged businesses to patronize government whenever they are in need of land, saying that all land belonged to the government.
“On the harmonization of taxes, we have put in a lot of reforms on our Inland Revenue Service.
“Be rest assured, be patient with me, slowly and surely, we will remove all these multiplicities of taxes.
“We are also concerned about our physical planning as well. The lands department and physical planning are now working collaboratively to ensure that all the problems we have had in the past are resolved.
“All lands belong to the government. My advice to you is that if you want to buy land, come to the state. We have ensured that any land to be sold to you is properly enumerated and compensated.
“So, please, I want to discourage all of us to desist from buying land from land speculators,” he said.
Abiodun said that his administration would be distributing 5,000 Certificates of Occupancy (CofO) this Friday.
According to him, the state is now at a vantage position to continue to issue out Certificate of Occupancy to subscribers with a newly acquired equipment that can sign 1000 CofOs daily.
Abiodun called on the OPS in the state to give back to their various host communities by either taking advantage of the state government adopt a school or primary health care center project.
The governor spoke on the importance of businesses imbibing the culture of technology transfer, which would further assist the country to move forward technologically.
He reiterated the commitment of his administration to ensure steady and uninterrupted power supply soon through the Ogun Light Up Project.
The governor noted that his administration deliberately laid a lot of emphasis on reconstructing roads that connect the Ogun with other states of the country, especially Lagos, the economic capital of the country.
While commending the OPS for joining hands with his administration at repositioning its security architecture through the rejigging of the Ogun State Security Trust Fund, Governor Abiodun added that his administration would continue to do all it can to make the state the safest place to live, work or play.
Earlier in his address, Commissioner for Industry, Trade and Investment, Mr Adebola Sofela assured that the state government would continue to create an enabling environment for businesses to thrive.
He said the present administration would continue to partner with industries in the state with a view of propelling the common interest of both the government and industries to greater heights
Also speaking, Ogun State Chairman of the Manufacturers Association of Nigeria (MAN), Chief George Onafowokan, acknowledged the position of the state as the best place for industries to thrive.
He, however, called on the state government to continue to work towards ensuring that the enablers for businesses to thrive are readily made available in the state.
Speaking on behalf of the Agbara Cluster, the Director of African Industry Group, Chief Sohan Baghla disclosed that they have being able to provide over ten thousand jobs for the people of the state, adding that a greater percentage of their investments are in steel production and processing, aluminium production and processing, glass, chemicals, steel rolling mills, all situated in the Agbara business cluster.
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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