Business
Tragedy : Container crushes 7 people to death on Lagos-Badagry expressway
No fewer than seven persons were killed and 12 others injured when a 40-foot container fell off a truck in the Alakija area on the Lagos-Badagry Expressway on Wednesday.
It was learnt that at about 7.30am, the truck, with number plate KRD 526 XP, moved from its lane to another lane and rammed into a commercial bus after its brakes failed.
In the process, the container the truck was carrying fell, killing seven people and injuring 12 others.
The incident happened at the Alakija bus stop.
Our correspondents gathered that some commercial motorcycle riders at the bus stop were also trapped under the fallen container.
It was learnt that the minibus, with number plate EPE 972 XH, was crushed, while its passengers were trapped.
When PUNCH Metro got to the area, policemen from the FESTAC Police Division, officials of the Lagos State Emergency Management Agency, Lagos State Traffic Management Authority and the Lagos State Fire Service were observed at the scene.
A large crowd of sympathisers were also observed trying to rescue the motorcycle riders and bus passengers trapped under the container.
A witness, Biodun Solaja, told one of our correspondents that three of the deceased were motorcycle riders.
He identified the two of them simply as Ganiyu and Mohammed.
He said, “The problem here is that motorcycle riders and bus drivers always block a part of the road in their search for passengers. Also, the road is in a bad condition and traffic is always heavy at the bus stop.
“This morning, the truck had wanted to manoeuvre its way when the container on it fell and crushed the passengers in the bus. It also crushed some okada riders at the junction. Many people were trapped under the container.
“Three okada riders died on the spot. Others had broken legs and arms. There was confusion at the bus stop for several hours.”
A policeman, who spoke on condition of anonymity, said the slow pace of construction work at the bus stop contributed to the accident.
He said, “Five persons died on the spot. As a result of the failed brakes, the driver lost control of the vehicle and rammed into the minibus. Apart from the five persons who were killed on the spot, several others were trapped under the container. Traffic officials were assisted by some sympathisers, who rushed several injured persons to different hospitals.
“Apart from the deaths and injuries, the container smashed about seven motorcycles and some electric poles in the area.”
An emergency official told PUNCH Metro that the casualties would have been more but for the interruption of power supply in the area.
“The electricity firm in Alakija was alerted to switch off power supply to the area to prevent electrocution because some electric poles were damaged. Heavy duty machines were used to remove the wreckage,” he added.
The General Manager, LASEMA, Mr. Michael Akindele, said three people were killed, adding that the injured persons were responding to treatment.
He said, “Investigations conducted by the agency’s Emergency Response Team at the scene of the incident revealed that the truck lost its brakes and rammed into the minibus. Thereafter, it also fell on okada riders at the bus stop. The agency’s ERT at Cappa, in conjunction with other agencies, was involved in the recovery operation.”
Akindele advised truck drivers to always conduct proper checks on their vehicles and drive within the approved speed limit. He urged motorcyclists to comply with the traffic laws of the state to forestall a recurrence.
The Lagos State Police Public Relations Officer, SP Dolapo Badmos, confirmed five deaths.
She said, “The men of the FESTAC Police Division were on the ground to help in the evacuation. As of 4pm, we had five dead bodies. The identities of the dead are unknown.”
The Public Relations Officer, LASTMA, Mahmud Hassan, said the wreckage had been evacuated from the expressway.
He said, “The truck jumped over the median after losing its brakes and fell over the commercial minibus. We have evacuated the wreckage and everything is under control.”
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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