Business
‘President Muhammadu Buhari; A year in office a global decadence to Nigeria’ – Hon. Ifemosu
2015, President Muhammadu Buhari, PMB, won the Presidential election after a keen contest with the then incumbent President, Dr. Goodluck Jonathan, most Nigerians were happy thinking that the “messiah” that will take Nigerians from the woods to the “Promised Land” had come.
Many, also jubilated with the firm belief that the ‘’change’’ which he and his Party, the All Progressives Congress, APC, promised Nigerians was certainly going to transform Nigeria.
But with just about a year of his administration in office, PMB is still apportioning blames rather than proffering solutions.
Rather than shop for those that will help him fix the nation’s bleeding economy, President Buhari is busy globetrotting; spending the little resources that Nigeria is left with abroad and returning back home with little or no results for his missions abroad.
Below are some of the highlighted reason why PMB has actually failed Nigeria:
*During the 2015 presidential electioneering campaigns, PMB, promised to make the Naira equivalent to the United States of America Dollar.
With this pronouncement, most of us where happy since our economy is an import dependent one.
As at May 29, 2015, when he assumed office, the value of the Naira to the Dollar, in the black market was N195.00 against its current rate of N400.00.
As a result of this, cost of almost every commodity in the market has skyrocketed.
About Few months ago, his government announced that 500,000 unemployed graduates were to be employed as teachers.
Again, this was welcomed with much applause.
But just recently, the PMB led government announced that these teachers would be trained under its social welfare scheme to serve as voluntary teachers; what a deceit.
I termed this as Unpreparedness for leadership.
To prove PMB’s unpreparedness for leadership, in April 2015, after the Presidential election, he mentioned to Nigerians that he was not sure that former President Goodluck Jonathan will concede defeat.
To further buttress this position, it took President Buhari about seven months to appoint his ‘’saints’’ Ministers.
Ministers without any allegation of fraud.
To make matters worse, it took Buhari nine months to discover that the recently sacked 26 Agency heads were working for the PDP, as announced by the APC Chairman, Chief John Odijie-Oyegun.
*Budget Padding
Again, to show how unserious he runs the business of Nigeria, it took the President too long to get the 2016 budget passed.
His “Zero-based” budget of 6 trillion for the “change” agenda, presented with so much fanfare, expected to perform wonders for Nigerians, has been rejected by the National Assembly because of massive blunders discovered in the document after it was initially declared missing.
What does PMB and his APC Led government take Nigerians for? According to the late reggae icon, Bob Marley, you can fool some people sometimes but you can’t fool all the people all the time.
With reference to the controversial budget, full of concocted huge sums of Naira, with so many so-called errors attributed to the Presidency, how can a government that means well for its citizens plan a higher budget for its Ministry of Information against a lesser one for the Ministry of Agriculture in a country plagued by poverty, hunger and starvation? Or is this deliberate in other to equip the Minister for Information and Culture, Alhaji Lai Muhammed, for what he knows how to do best; propaganda.
How did N5 million proposed for buying computers for the News Agency of Nigeria (NAN) and the Film and Video Censors Board mysteriously became N398 million? What error accounts for the N3.8 billion allocated for capital projects at the State House Clinic meant for the president, vice-president and their families alone; compared to the N2.6 billion allocated for all the 17 government teaching hospitals nationwide.
Based on the foregoing, is the budget truly a reflection of how PMB loves Nigerians and the Nigeria he once cried for? Is it also a true reflection of the “change” he promised? What brands of tyres, batteries, fuses, c-caution signs, fire extinguishers and towing ropes will amount to more than quarter of a billion Naira of tax payers’ money, considering the fact that this budget is just for one year and that some of the listed items come with brand new cars.
How can a President who claims to be fighting corruption present such a budget?
Exposing Nigeria to external aggression
President Buhari goofed seriously when he made the Dasukigate investigation public.
Even in the advanced world, matters of national security are handled secretly on-the-need-to-know bases.
But in PMB’s case, he preferred to make a big show with it thereby exposing the nation’s vulnerability and susceptibility to external military aggression and possible invasion by any country; no matter how small that may want to display its military might and superiority.
PMB, in doing this, forgot he took an oath to protect Nigerians.
*Lack of tolerance for the opposition.
PMB’s intolerance for the opposition remains unparalleled.
He has not congratulated any governor in the opposition political parties who emerged victorious in any election, since he assumed office as President.
This may also be the reason his anti corruption fight is perceived to be a vendetta mission, an attempt to reduce the opposition to nothing.
This writer is not against the anti corruption stance of Mr. President but his approach is seriously assuming a dangerous dimension; Nigerians are watching.
PMB’s corruption war seems to be targeted and limited to the Jonathan’s administration.
Is PMB telling Nigerians that previous administrations were corruption free? Or is it because Dr. Jonathan did not in the military? What are the reasons for limiting this fight to Jonathan’s administration and the PDP alone? What about the men in his cabinet, whose names are associated with so many alleged corruption issues? Is PMB surrounded by saints, is he saying that all present and former governors of the APC are corruption free or they never corruptly enriched themselves? In about three months , his administration will be one year.
Nigeria needs a president that can move her forward not one that has taken her 30 years backwards.
What about his party leaders who have been alleged to have converted state government properties into their personal properties? Why has PMB refused to tell Nigerians the source of funding for his electioneering campaigns and how those who funded it with billions of Naira acquired such stupendous wealth? What about the numerous under aged Nigerians that voted for him in the northern part of the country which may have contributed to his emergence as president; has he made any categorical statement to condemn this act? How can a President, who was corruptly voted into power fight corruption? How can a President whose election campaigns were corruptly funded by corrupt persons who allegedly corruptly enriched themselves fight corruption?
Nigeria’s business is a serious one; not meant for people who lack vision to move the nation forward.
Nigerians are tired of his anti corruption mission which is not even yielding fruits.
His anti corruption fight is seriously hemorrhaging the nation’s economy.
*Fuel hike/Scarcity.
It took PMB to aggravate the suffering of Nigerians by increasing the price in PMS, it will be recalled that the minister of petroleum (state) kachikwu stated it categorically that fuel Scarcity will end by may, not knowing there is a plan B to subsidized and increase fuel Scarcity, it is a known fact that earlier in 2015, PMB stated that there is nothing like Fuel subsidy, only to come in 2016 to subsidized it at a higher price.
Nigerians are hungry.
And rather than spend the past eleven and half months since he assumed office to fight hunger, starvation, poor health care delivery systems, and shelter for the homeless, PMB has been busy junketing the entire globe and painting Nigerians black as corrupt people.
Is it his war against corruption that has refused to yield results as buttressed by a recent statement by the Economic and Financial Crimes Commission (EFCC) boss, Ibrahim Magu, that “senior lawyers are frustrating the war against corruption? Is it his victory over Boko Haram which he claimed can no longer carry out any conventional attack yet they bombed Maiduguri, Borno State capital, killing and injuring scores? The same Boko haram bombed an IDP camp too killing and injuring scores of harmless women and children he swore to protect.
And just recently, the same group of terrorists razed Mala Keri in Konduga Local Gorvernment Area of Borno State.
Is it the “padded zero-based” budget of “change” corruptly designed to enrich some pockets which they also claimed some rats smuggled some items into it, as reported by the BBC or the Treasury Single Account (TSA) which he recently pronounced was a creation of Dr. Goodluck Ebele Jonathan’s administration? Would it be only the Dasukigate? Of what immediate benefit is Dasukigate to Nigerians compared with the sorry state of the Naira or faulty policies like the one which has caused even students inability to pay their school fees abroad?
President Muhammadu lacks clues on how to move Nigeria forward. He also lacks the capacity to be Nigeria’s president.
This is because he equally lacks ideas on how to diversify the economy of this great nation blessed with abundant natural and human resources.
His team also lacks cutting edge ideas that will take Nigeria out of the woods.
They have nothing new to offer as his “miracle making” and “saints” ministers are of the old school or old brigade with little or no achievements to show in their past leadership roles except for Babatunde Raji Fashola the minister of darkness who could only increase the electricity tariff and stop importation of Generators.
Nigeria, a country with about 220 million people does not need a president that lacks a 22nd century vision.
We need one with solutions to her challenges.
The kind of president that can set the propellers and the turbines of Nigeria’s economy running rather than bringing it to a total halt; a president that can place the most populous black nation in the world, in its rightful place, in the committee of nations.
Ifemosu Michael Adewale.
An activist, Founder Youth in Good Governance initiative (YIGGI).
Business
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.
Bank
Alpha Morgan to Host 19th Economic Review Webinar
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.
Business
GTBank Launches Quick Airtime Loan at 2.95%
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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