Business
Desist from extorting Logistics Operators, Lagos Assembly orders LGs, LCDAs
Breaking: Desist from extorting Courier/Logistics Operators, Lagos Assembly orders LGs, LCDAs
The Lagos Assembly on Monday ordered Local Government councils and Local Council Development Areas (LCDAs) in the state to desist from extorting and harrassing operators of courier and logistics services in the state.
This was as the Speaker of the Lagos Assembly House, Rt. Hon. (Dr) Mudashiru Obasa, emphasised that local government councils and LCDAs so not have the power to tax logistics and courier services. He said the power of the councils was limited to registration of bicycles as dictated by the constitution of the country.
Obasa said it was lamentable, especially as such acts affect ease of doing business “and it is very important that we do something about it.
“We have to make them understand that going out to disturb well-planned and organised businesses that stand to create employment for our youth especially with the rate at which students graduate with nothing much to do is not good at all.
“The services of courier services reduce poverty in the state and how much do they even charge?
“Local governments have nothing to do with the registration of motorcycles and tricycles. Operators of courier and logistics services should not be made to pay in all the local governments considering what they charge for their services.”
The Lagos Assembly House therefore resolved that local government councils should be aware of their limitations in this regard as well as stop using alleged touts and street urchins to collect revenues in other areas where they are legally empowered.
In the decision of the House which followed a motion earlier moved by Hon. Ganiu Sanni Okanlawon (Kosofe 1), the lawmakers further resolved to call on the Lagos State Government to direct the Commissioner for Transportation and other relevant agencies to ensure that operators of courier services and logistics are not harrassed by the local governments.
The Lagos Assembly House also directed the state Commissioner of Police to ensure that all extortionists in the state are apprehended.
“The House calls on Local Governments and LCDAs to desist from harrasing and extorting operators of courier and logistics services and restrain their traffic department from doing so.
“The Ministry of Information and Strategy should educate operators of Courier and Logistics Services and informed them about what is expected of them,” Okanlawon said.
Okanlawon stated that the laws and restriction orders on the ban of motorcycles in some areas in the state exempted the movement of motorcycles of courier and logistics services.
In his contribution, Hon. Bisi Yusuff said that the motion was timely and that the use of local government taskforce to deal with operators of courier services was an embarrassment to the state government.
According to Yusuff, some operators took some local governments to the court on the issue in the past and won.
Leader of the House, Hon. Sanai Agunbiade, said that courier and logistics services help people in different areas to interact with their customers.
Agunbiade added that the operation had a way of boosting the economy of the state and empowering the people through employment.
“The motion did not say they should not be regulated. A courier service should not pay from one local government to the other or else it would defeat the purpose of theur business.
“The revenue should be centralised among the local governments. The House once passed a law to regulate collection of fees by local governments. The law stated that whoever is collecting levies for the local governments must be identified,” he suggested.
Hon. Lukman Olumoh (Ajeromi/Ifelodun 1) accused some of the local government officials of issuing out fake documents. He suggested that consultants should be employed for such activities.
Hon. Fatai Mojeed (Ibeju Lekki 1) stated that some of the riders of the bikes are graduates who have no other jobs, and that there have been many cries concerning the harrasment of courier and logistics operators by local government officials.
On his part, Hon. Abiodun Tobun (Epe 1) lamented that some of the courier services organisations do not live up to expectations.
“Some local governments use consultants and we cannot stop them because of their excesses. We must not throw the local governments out totally as they have a role to play as an arm of government,” he said.
Also speaking, Hon. Lanre Afinni (Lagos Island 2) suggested that the collection of revenue for the local governments could be centralised and shared among them, adding that multiple taxation affects the profit of courier services companies.
In his view, Hon. Moshood Oshun (Lagos Mainland 2) said that most of the local governments and LCDAs have traffic sections and that they charge exorbitant fines.
He urged that the traffic sections of these councils be looked into because they sometimes go the extreme of arresting and harrassing people.
Hon. Jude Idimogu (Oshodi/Isolo 2), who said he had personally experienced the harrasment of the touts, supported the motion.
Also supporting the motion, Hon. Setonji David (Badagry 2) said that courier operators play major roles in the state but that the local governments do not see it from this angle.
“Most of the receipts issued by the local governments are fake. We must ensure that the local governments limit themselves to what they ought to do.
“We have to find a way to stop the local governments from bothering the courier services since they are recognised by law. They also help transportation in the state as they help in distributing items,” he said.
Eromosele Ebhomele
Chief Press Secretary to the Speaker of the Lagos State House of Assembly
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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