Business
OLOJO FESTIVAL: Makinde Explodes, Detonates South-West Governors Over Thoughtlessness
A former member of the House of Representatives, Hon Rotimi Makinde, has hailed the Ooni of Ife, His Imperial Majesty Adeyeye Ogunwusi, on the successful hosting of the 2017 Olojo Festival, stating that it is undoubtedly the greatest festival in the history of Yoruba land.
“This is the greatest festival being celebrated on behalf of all Yoruba in Ile- Ife as the origin of Yoruba land. It is a statement of fact that from Ife, our great forefathers founded other great kingdoms. Oranmiyan for instance was a son to Oduduwa; he founded Oyo kingdom and at the later part of his life he returned to Ile Ife where he is today being worshipped,” affirms Makinde who adds that Ife has lots of tourism potentials such as Moremi status, the tallest in the whole of Africa, the Oduduwa shrine, Yemoja shrine, and many others.
Makinde, however, urged all Yoruba sons and daughters, especially Yoruba governors of the Southwest, to make Ife their rallying point as, according to him, “the Olojo Festival is being celebrated in Ile Ife because it is the cradle of Yoruba race and is expected to be a place where all sons and daughters of Yoruba land are expected to express and share love and affection by identifying with Ooni Of Ife as a mark of respect. It should also serve as an occasion where all Yoruba monarchs must demonstrate their love to the Arole Oduduwa. All governors of the Yoruba speaking states like Senator Amosun, Ogbeni Aregbesola, Arakunrin Akeredolu, Senator Ajimobi, Dr. Fayose, and Mr Ambode are expected to visit Ife and the Oonirisa regularly and make Ife their source of power and wisdom as it originally is. Unfortunately, politics is taking the better parts of them.”
According to Makinde, who Identified with Ooni and other Royal Fathers and our culture for peace and diversification of our economy if truly you are our representatives. He expressed this while condemning the scenario that saw only the presence of only a governor from far away Gombe attending the Olojo festival when indeed Ooni is regarded as the only alternative chairman of Nigeria traditional set up councils in Yoruba Land, This is the most unfair,uncultured and very discouraging no matter our generosity towards the once in a year event. We should not have allowed politics and religion bias to make us distance from our culture. This is the same way we allow the oil boom of the 50’s to make us jettisoned our cocoa industry…World wide now,culture is perhaps one of the greatest sources of revenue for many country Makinde said.
In the same vein, the Director General of the Office of Economic Development and Partnerships ( OEDP ), Dr. Charles ‘ Diji Akinola, said that, “Olojo is one of the oldest festivals in Ife. It is a celebration of life, the mark of the beginning of New Dawn all over Yorubaland in honour of the beginning of life itself and also Ogun, the god of iron. ”
Akinola disclosed that the Ooni is the custodian of this greatest festival for Ooni is the Arole of oodua and the only living mortal among the 201 of its peers. As a way of promoting tourism and showcasing our culture, the Ifes, and by extension, adopted the uniqueness of the day to celebrate Olojo as a mark of respect for our creature, the festival is as old as the cradle of Yoruba race itself and it’s the only day the Ooni is sighted with the very crown wore by Oduduwa the progenitor himself. Akinola noted that the festival would be rebranded , presented in modern form to reinforce the notion of Ife as a foremost cultural and tourism centre.
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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