Business
Samsung graduates 72 highly-skilled technicians
The Samsung Engineering Academy in Lagos recently graduated another 72 technicians from its class of 2016. They join the 257 graduates who have passed through the institution over the last five years, and who are expected to deepen the pool of well-trained technicians in the country.
With over 170 million people and a high rate of population growth, the World Bank estimates that Nigeria needs to create an additional 40 to 50 million jobs between now and 2030 – a compelling reason for both the public and private sectors within the country to sit up and take notice.
It was with this challenge in mind that Samsung established the West Africa Engineering Academy in 2012, to create a pool of technically-skilled graduates who are either eligible for employment or are able to start their own businesses.
These new graduates are trained to become employees in repair centres, and assembly lines, or to become independent entrepreneurs. Some of Samsung’s service partners also help employ these graduates.
“Samsung’s aim is to build successful partnerships in Nigeria to equip the country’s youth with the technical skills they need to transform their lives and contribute to the development of the country,” says Mr. Changwook Lee, Managing Director for Samsung West Africa. He adds that the Samsung Engineering Academy revolutionizes traditional education by providing technical and vocational training for school leavers, tertiary students and unemployed youth.
Since its inception, the SEA Lagos has trained over 800 students across the three trade areas (Household Appliances, Information and Mobile, and Audio Visual) under Basic, Intermediate and Advance Trainings.
The academy’s most recent set of graduates have all been provided with tool boxes in line with their specialised trade area, to better equip them for the future as entrepreneurs or as part of a skilled workforce. The top three achievers were also awarded prizes comprised of various Samsung electronic products.
Speaking at the graduation ceremony, Mrs. Omolara Erogbogbo, Executive Secretary, Lagos State Technical and Vocational Education Board, said that the Samsung Engineering Academy is a great initiative which has given hope to youths with technical skills and equipped them to become technicians in electronics engineering.
According to Mrs Erogbogbo, these technical skills will not only help the engineers to build a better future for themselves, but will also contribute towards Nigeria’s economic growth and development.
The academy was established to empower indigent Nigerians and positively impact communities, says Judith Kelechi Osuji, Corporate Citizenship Manager at Samsung West Africa. “Innovation is at the heart of what we do, and we believe education is the seed of innovation. Our hope is that through initiatives like the Samsung Engineering Academy we can empower the youth by creating opportunities that will lead to sustainable employment.”
This year’s top graduate, Ozurumba Kelechi, said: “As a direct result of my training at the academy, I am now better equipped as a technician. Using the Samsung Engineering Academy as a platform to empower young people like myself is rewarding, not just for me, but for the people around me – my community, Nigeria and Africa as a whole.”
The Samsung Engineering Academy enrolls over 1000 students yearly across various countries in Africa with the aim of closing the gap between skills and demand in the job market. Graduates have a 40% job placement track record, while others go on to pursue further higher education, training or start their own businesses.
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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