Business
Why Nigerian Government Should Invest In Scientific Research – LASU Dons Reveal
Academicians at the Lagos State University, LASU, have called on the Nigerian government to invest in scientific research to solve numerous challenges facing the nation.
The varsity Dons said this on Wednesday at the opening ceremony of the 5th Faculty of Science Conference in the University, with the theme “Cutting Edge Research: A Gateway to National Development”.
The Chairman of the Local Organising Committee, Professor Benjamin Aribisala, in his welcome address, said scientific research has brought about unquantifiable revolutions to all facets of human endeavours.
Aribisala, a professor of computer sciences, noted that “scientific research has greatly and positively influenced the way we think, quality of life, life expectance, the nature of governance, education, businesses and even our social engagements.
“One of the ways to appreciate scientific research is to imagine a world without Electricity, Computers, Cars, Mobile Phones or Televisions, such a world could be described as a complete desert, he said.
“The impact of scientific research is so great to the extent that it is a major determinant of economic viability of a nation, adding that “this has led to the assertion that countries with higher scientific breakthroughs generally have better education, better health and higher life expectancy. This suggests that any country with a clear vision to succeed should be ready to embrace and invest in scientific research.
Professor Aribisala said the current situation in Nigeria, most especially in the areas of economic stability, poor quality of education, insecurity, unemployment and political instability call for urgent attention. He, however, expressed dissapointment that little or no consultation has been made to scientific approach of solving these national problems.
Speaking with Journalists, on many problems confronting the nation and what Nigerian scientists are doing, Mrs. Adejoke Ibidapo, a professor of Parasitology, said scientific research requires a lot of funding.
She also lamented that money that could have been used to fund scientific research for national development were being looted by politicians.
According to her, “scientific research has a lot to do with financial backing and we also know what the government is facing concening money right now. Billions and trillions were being spent by individuals instead of channeling them to scientific research.
“Some universities have just resumed from strike all because we need better infrastructures. If you go to other universities, even for publishing you are encouraged, you are given something for your effort.
“More money should be channelled to national institutes and Universities for better equipment of laboratories that will encourage standard research which is key to national development, Professor Ibidapo said
In her submission, Professor Sena Bakre of the department of Microboiology, urged the federal government to increase budget in education and fund tertiary institutions, noting that materials and finance are the major problems affecting research.
Also, Professor Adenike Boyo of the department of Physics, who works on Solar energy, said electricity and lack of equipment are some of the challenges affecting standard research in Nigeria.
Speaking on how research can contribute significantly to the nation’s GDP, Professor Boyo said, “most of the research works end in the laboratory, noting that ”if there is a database of researches, most of the problems in Nigeria will be solved.
The professor of physics further revealed how Nigeria can generate so much revenue from the solar energy she is working on.
According to her, when the prototype is tested, replicated in rural areas, the innovation can also be exported to other other countries and this will increase GDP.
Earlier, the LOC Chairman, Professor Aribisala said the focus of the 50day Faculty of Science 2017 Conference is to bring academic scholars of our great country Nigeria and those of the leading nations of the world together to discuss the way forward in Nigerians’ national development. We hope to give researchers the platform to showcase their research findings, establish collaborations, develop new research ideas and identify the scientific approach and gateway to Nigeria’s national development noting that the faculty has received about 160 abstract submissions from various scientific disciplines
The keynote speech was delivered by Dr. Babak Kateb, Director and CEO of the Society for Brain Mapping and Therapeutics in Los Angeles, USA. via a video conferencing.
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”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
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