Business
PRESIDENT TINUBU TO ORACLE GLOBAL VP: WITH CUTTING EDGE TECHNOLOGY, WE WILL DIGITIZE THE PUBLIC SERVICE AND SURGICALLY APPLY PUBLIC MONEY FOR GROWTH
PRESIDENT TINUBU TO ORACLE GLOBAL VP: WITH CUTTING EDGE TECHNOLOGY, WE WILL DIGITIZE THE PUBLIC SERVICE AND SURGICALLY APPLY PUBLIC MONEY FOR GROWTH
President Bola Tinubu, on Monday, expressed his support for new partnerships with global technology companies to ensure that data from public institutions are accurate and transparent in providing templates on which proper public sector planning and accounting can occur across sectors.
Speaking at a meeting in the State House with the Global Vice President of Oracle, Mr. Andres Garcia Arroyo, the President welcomed the company’s commitment to Nigeria’s civil service reform process and data management sector, even as he emphasized the need for greater knowledge transfer through the establishment of academies and training institutions in the country.
Aiming to promote the ease of doing business, digital innovation, effective identity management, efficient payroll administration and qualitative citizen-centred service delivery, the President cited Oracle’s proven success in the automation of the Lagos State payroll system during his tenure as the Lagos State Governor and lauded the positive impact of technological solutions in enhancing accountability, and expediting timelines for service delivery without sacrificing quality in the process.
“I have tested Oracle and it has worked for our success. In Lagos State, what we did in effective collaboration with you, has been copied across the states of the Federation. We can only build our institutions with accurate data and cutting edge data management capabilities that are reliable and effective. We can only rely upon our human resources for excellent service delivery to Nigerians, if they are well trained and ready to learn.
“The transfer of knowledge is essential for our nation and the continent. In this government, we believe that the only way to build our country is a bottom-up-approach and from one single sheet of paper, we can create an end-to-end solution for public administration that will rid our service of its worst tendencies in favor of effectiveness and reliability,” the President declared.
Expressing concern about Nigeria’s bloated civil service payroll at the national and sub-national levels, the President stated: “Each time they give me the payroll number, I get so frightened. Where am I going to get the capital to develop the infrastructure we desperately require if the payroll of 1% – 2% of the population is consuming all the revenue? I think we need a tight technological control that can check and balance all necessary control points of our transaction processes. I’m looking forward to working with Oracle because I have the belief and confidence that you can do it as you have in the past.”
In his remarks, the Global Vice President of Oracle proposed a comprehensive digital transformation of work process at the federal level of administration, in order to achieve greater macro-economic visibility; streamline government processes for cost and time savings; and to provide the desired skills development opportunities for Nigerians.
“You have shown tremendous practical leadership throughout your career, Mr. President. We have partnered with you and we know how determined you are to achieve all that you set out to achieve. This is why we are offering Nigeria a free national diagnostic of the present situation in the public service with a view to dimensioning across sectors the scale of solution required. We look forward to partnering with you again,” the Oracle VP concluded.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
September 4, 2023
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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