Business
TOP SOCIALITE,BABATUNDE OLAOGUN VENTURES INTO HOSPITALITY BUSINESS , OPENS ROYALTY LOUNGE AND SUITES IN IKEJA
Babatunde Olaogun is a young and successful entrepreneur who has decided to raise the bar of hospitality business in Nigeria. Very soon,precisely in December this year, his multimillion naira Royalty Lounge and Suite will be opened in a very colourful way,and will parade dignitaries from all walks of life. In this interview with SaharaWeekly,the Lagos born socialite spoke on why he veered into the business and other issues.
Q What informed going into hospitality business?
Hospitality is diverse in terms of applications.For me, I opted for the lounge and Hotel aspect based on the fact that a vast number of people yearn for top quality,decent,serene, yet affordable places to relax after the Lagos hustle and bustle. I am committed to providing this much at Royalty Lounge and Suites
Q Why hotel and lounge?
I chose hotel and lounge because I am a complete extrovert and highly sociable. I am well aware that gentlemen and ladies look forward to days and periods when they will see where they can relax in a quiet, yet entertaining atmosphere.
Q How did you come about the name,Royalty Lounge and Suites?
The name, Royalty was taken from the mother of the business itself. I manage a firm known as Unveiling Royalty Enterprise. At the time I conceived the idea of Lounge and Hotel and Beauty Lounge, I consider that it was only logical for me to consolidate on the. Name existing name since it has been on for a while.
Q How far have you gone with the project and when is it likely to be opened?
We’re almost done with it. The official opening could have been done in September but was shifted to December 2016. The shift was strategic. We have been test running a few of the facilities and putting up new things. We’re planning on earnest for yuletide and the general festivities. Royalty Lounge and Suites is billed to be opened officially in December this year; Saint Janet and a popular comedian are billed to perform at the grand opening. The exact date will be communicated in due course to our teeming customers. A lot of them have been contacting us on emails and other social media platforms. We’re putting things together to serve them better. They should just get their fingers crossed.
Q How much have you invested so far in the project?
We have invested a lot of money in it. From securing the facilities(for Lounge and Suites)on a long term basis to renovations, as well as putting up contemporary gadgets. As a matter of fact,we have invested millions of naira in it.
Q Why Ikeja?
Ikeja became a choice because of the fact that it is the capital of Lagos. Going forward, I realized that the most sophisticated lounges are all situated on the Island and probably other high brow areas of Lagos, not Ikeja. Fun seekers who besiege the island to have fun, most of them reside in the Mainland. So, why go all the way to the Island when you can have the same quality at even a much reduced rate in Ikeja. So, that informed our decision of inventing the innovation in Ikeja.
Q What’re the unique services that will attract fun seekers the place?
We’re mindful of the fact that a lot of fun seekers don’t go out alone. In most cases, they have companies. Our services will include, but won’t be limited to the provision of essential beauty treats for women. This facility will in no small measure bring out the difference in us. We have provided a platform where a man and a woman can have access to different things, all in the same facility. This is unique and can boast that it’s the first of its kind in Nigeria.
Q Are you prepared for the stiff competition in the business?
We-re ready for competition, considering the kind of services we’re providing. It’s obvious that we’re clearly better equipped the most of our competition. The fact will speak for itself.
Q We learnt you’re also into politics and you aspired to Lagos House of Assembly seat, Ifako/ Ijaye constituency.But all of a sudden, you opted out. Why did you take that decision?
My political ambition remains solid. I declared in 2015 but had to step down based on some issues. The will to contribute my quota to the development of our fatherland remains steady. By God’s grace, we would push for same in the next election.
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
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING
You must be logged in to post a comment Login