Business
OGUN: LOCAL GOVERNMENT ELECTION AND IGR By Michael-Azeez Ogunsiji
Democracy in Nigeria today, is no longer peoples oriented as opined by the progenitors of this concept; rather, what we have now is AUTOCRACY where only the few enjoy the dividends through the workforce of the majority and amass wealth for their selfish interest and personal gain.
Few months back, there was much ado about the establishment of additional 37 LCDAs by Governor Ibikunle Amosun of Ogun State as the development was greeted with mixed reactions.
While many argued that, the establishment of such would only further impoverish the state owing to the fact that the existing 20 Local Government Authority were inadequately funded, government hinged its claim on bringing development to the grassroot.
Though, the intention of Governor Amosun was political, but of course, bringing government to the doorstep of the people will aid development, no doubt about that, our fear of the LCDAs is inadequate funding in this situation that the state government has taken over the Local Government account all in the name of Single Treasury Joint Account. I make bold to say that, such move was a ruse and will only hamper the activities of the Local government.
A local government is a local administration under which local communities are organized to maintain law and order. It is also defined as a non-self governing body set up by an act of Parliament, a decree, or by the Constitution to administer a territory or a political entity for the benefit of a stronger government which normally cannot or does not want to rule the area directly.
Local Governments have been described as “the strength of free nations” because of their effective control of Local affairs for the good of all.
Local Government in traditional Nigerian political systems was established through the instrumentalities of traditional authorities. These were Emirs, Obas, Chiefs, Age-grades and Council of elders. It was the societal interaction of these traditional political institutions that authoritative allocation of values were made for the society. With the advent of British colonial rule in Nigeria, the chieftaincy institutions were involved in the system of Local government called the indirect rule.
Indirect rule is a system of government in which the British ruled the people through traditional rulers according to the native laws and customs. When the indirect rule collapsed due to the Aba women riot in 1929, local government after the civil war underwent reforms in Nigeria.
The Eastern (East Central and South-eastern states) and Mid-Western states adopted a one-tier local government system called Divisional Councils. In the local divisions, emphasis was placed on decentralization, democratization, efficiency and effectiveness of the councils.
However, as the Federal military government prepared to hand over power to civilians, it reformed the local government system throughout the country in 1976. It recognized local governments as the third tier of government.
The 1976 reform was intended to stimulate democratic self-government and to encourage initiative and leadership potential and enshrine the principle of political responsibility. But today in Ogun State, Governor Ibikunle Amosun administration doesn’t give a damn to the existence of Local government authority.
Instead of empowering the 20 local governments with their respective allocations to effectively discharge its obligation to the people, the APC administration in Ogun State has crippled the LG with inadequate fund, but created additional 37 LCDAs to serve his selfish objectives.
With such inappropriate establishment, one begin to wonder how the governor will finance them considering the low income of Federal allocation for local government.
Even in the face of the global economy doldrums which Nigeria is not an exception to, definitely such effect will take its toll on federal allocation to State governments down to local government, that is why local government administrators have been constitutionally empowered to generate revenue to execute its projects.
Local governments in Nigeria derive their revenue from internally generated revenue, statutory allocation from states, constitutional allocation from the federal government account, grants, donations and advances from banks.
Part of the internally generated revenue of the local government include; rates imposed on the use of specific items whether individually or government owned. These rates include water rate, tenement rate, capitation rate and motorcycle rate.
Another means of generating fund by the local government to remain independent is motor Park and stallage fees. Others include, registration of births, marriages, deaths and house numbering. But today, Governor Amosun in his megalomania style of leadership overthrew the responsibility of the local government and rendered them stagnant and under performing
The motor Park fees is now being collected by the governor’s political thug, Mr. Akeem Adeosun a.k.a Jango, while house numbering and signages fee collection is now being handled by a private agency connected to the governor.
Little wonder the rural settlers are deprived of the basic amenities expected from the local government such as, road maintenance, refuse clearing, provision of portable water like borehole, environmental sanitation, public enlightenment on new government policies, provision of health facilities, job creation, provision of primary education among others.
Infact, allocation from both federal government account and state government as approved by the State House of Assembly are now allegedly being controlled by Mr. Governor himself.
Though, one valid claim from one of the Governor’s aides was that, there were allegations and counter allegations on the local government leadership ranging from financial misappropriation, under performance and financial embezzlement, but one critical question the good people of Ogun State should ask Mr. Governor or any of his spokespersons is that, why is it that the Federal government has not taken over the affairs of the state despite allegations of corruption, misplaced priority projects? Why is Ogun State Government taking over LG activities in Ogun?
Another heart pondering issue on the shredded part of the LG is the issue of local government elections. One of the basic features of the 1976 local government reform in Nigeria is tenure of office.
The local government councilors are to be elected on a three-year basis. The normal life of a local government Council is also three years, although, the governor of a state could order the dissolution of the council if found incapable of discharging its functions effectively. The Governor may appoint a caretaker committee pending a fresh election. But after one year in office and the dissolution of the local government caretaker committee across the 20 functional Council areas, no plan as it is by the state government to conduct an election into the council areas.
The Governor’s decision of not conducting local government election in the state maybe connected to public outcry over the failed promises and hardship inflicted on the people by the APC government in the state, hence, the fear of losing the council areas to oppositions in the state remain the beginning of wisdom for the governor.
However, the constitution remains the grundnom for governance in Nigeria, and many informed political analysts are of the opinion that the Governor Ibikunle Amosu led regime cannot afford to run foul of constitutional provisions on tenure of caretaker executives at the local government and as such must prepare to hold elections soonest in consonance with extant constitutional provisions.
Business
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.
Bank
Alpha Morgan to Host 19th Economic Review Webinar
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.
Business
GTBank Launches Quick Airtime Loan at 2.95%
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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