Business
PDP wrongs Vice President, Yemi Osinbajo over claims of N1.3Trillion spent on capital projects
The Peoples Democratic Party (PDP) has taken a swipe at Vice President Yemi Osinbajo who earlier in the week, said the current administration spent the sum of N1.3 trillion on the execution of capital projects in 2016 alone. In series of tweets on its official Twitter Handle @OfficialPDPNig., the party tasked the Vice President to explain to Nigerians how the said sum was spent and what projects was executed. Yemi Osinbajo “We are alarmed and highly bewildered to hear from Vice President, Professor Yemi Osinbajo that N1.3 trillion was spent on capital projects in 2016. N1.3 trillion on capital projects and nothing to show for it is unacceptable,” wrote the PDP in one of the tweets, asking: “Should we assume the Vice President was misquoted?” The PDP further noted that since the assumption of Muhammadu Buhari as President, the APC has failed to deliver the dividends of democracy to the people. “Apart from the infrastructures handed over to the APC-led government by the PDP, nothing has been done in the last two and a half years. “We believe the Vice President, Professor Osinbajo will provide clarifications on how N1.3 trillion was spent on capital projects in 2016,” it wrote in yet another tweet.
Meanwhile four out of the seven states that had their chapters of the PDP dissolved at the Special Non-elective convention held penultimate Saturday have already complied with the resolutions reached at the convention. Chairman, National Caretaker Committee of the PDP, Senator Ahmed Makarfi stated this yesterday while addressing newsmen at a meeting with the Kwara State chapter of the party in Abuja.
Stating reasons for convening the meeting, Makarfi said Kwara cannot afford to be left behind while other states were already putting their houses in order in the interest of the larger PDP family. “Kwara is the only state we are meeting like this. As I speak to you, we already have submissions from four states and they are ready to work together in the overall interest of the party. This means that they have already complied with the position of the party,” he stated, describing Kwara State as a “highly politically mature and active to prevent this type of isolation.” On the progress so far made in Lagos, Osun, Ogun, Kwara, Borno, Kebbi and Adamawa States which had their Executive Committees’ dissolution ratified at the convention, Makarfi said states yet to find a common ground on the way forward had requested the NCC for more time, stressing however that in no distant time, all parallel factions would join hands together as one family to move the PDP forward. “We are making big progress in compliance with the resolutions of the conventions. States are complying and making submissions. Some have asked for more time,” based on understanding, adding that there have been a lot of interests from many quarters to join the party after the convention. He however stressed the importance of putting the house in order as the party embarks on massive membership drive across the federation, adding that states that are yet to harmonise will do so after the Sallah break. “It is good to expand but it is important to put the house in order before expansion,” he counselled. On the delegation were prominent politicians including former Minister of National Planning, Professor Abubakar Sulaiman, Senators Solomon Ewuga, Simeon Ajibola and a host of others.
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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