Business
GRIDLOCK: LAGOS BEGINS EVACUATION OF ARTICULATED VEHICLES ON APAPA- OSHODI EXPRESSWAY
In its determination to ensure free flow of traffic and safety on the road, the Lagos State Government on Wednesday commenced the process of clearing Apapa-Mile 2 axis of illegal parking of tankers and articulated vehicles.
This action, the Government said is aimed at freeing Apapa – Oshodi Expressway of avoidable traffic gridlocks, and making the axis accessible to other road users.
Speaking in Lagos after a visit to the area, the General Manager of Lagos State Traffic Management Authority (LASTMA), Mr. Olawale Musa said despite series of meetings the Agency had with the stakeholders on the imperative of freeing Apapa of all traffic impediments, vehicles were still parked on the roads. According to him, no responsible government would fold its arms and allow lawlessness and impunity to reign.
The General Manager stressed that the Governor Akinwunmi Ambode administration is alive to its responsibilities and will not shy away from attending to the plight of the people.
According to him, this informed the setting up of a Special Task Force comprising of Federal Road Safety Corps (FRSC), Nigerian Navy, Police, Civil Defence and Lagos State Traffic Management Authority (LASTMA) under the Chairmanship of the Lagos State Commissioner of Police, Edgar Imohimi to rid Apapa and environ of activities of illegal parking and menace of articulated vehicles.
He expressed optimism that with the creation of the Special Task, support and cooperation of other security Agencies and all stakeholders with LASTMA, issues of illegal parking of vehicles and other lawlessness will soon become a thing of the past.
Musa noted that at the stakeholders meeting held on Friday 17th November, 2017 at the NPA headquarters Marina, activities of articulated vehicles returning empty containers to the Port was identified as the major cause of traffic gridlock in the axis, as many of them had to wait up to ten days to discharge empty containers.
“This made them to park on the main carriageways for days and in the process impeding free flow of traffic. This was largely due to the fact that shipping companies that were supposed to provide holding bays for the empty containers in accordance with the license issued for them to operate in the country have either refused to provide or the ones existing were inadequate. The stakeholders have therefore resorted that henceforth, these vehicles are to use the following holding bays and terminals which includes, Comet Terminal, Joatelim, Ballore Transport and Logistics, HBX Terminal, Unity Bonded Terminal, Falcon Terminal, Port and Marine services and Duncan Terminal for their activities,” Musa said.
The LASTMA boss said the stakeholders also agreed that the all trucks currently loading at the port will be issued a docket indicating where they should return their empty containers instead of waiting ceaselessly on the roads to return them.
Musa assured the residents of Apapa and Lagos State in general that the current effort and exercise to restore sanity and orderliness to Apapa would be a continuous one, warning that anyone who defies government directive not to impede free flow of traffic will be dealt with according to the law.
He therefore enjoined all stakeholders especially the Shipping Council and Shipping Lines to sensitize and educate their members on the new directive.
According to him, “people should stop putting individual interest over and above public interest. Members of the public should also take possession of the already cleared roads, and not hesitate to inform the Agency of any broken down or abandoned tankers and trucks on Apapa – Oshodi Expressway as LASTMA has been empowered and positioned to response promptly to any distress.”
It would be recalled that owners and drivers of articulated vehicles illegally parked on the roads at Apapa and environ have been given up to the Friday, November 24 to remove them from and failure to do so would lead to full enforcement of laws.
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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