Business
How ‘Leggedes’ Emerged King Of Lagos Roads
The taste of the pudding, an adage has it, is in the eating.
Many well-meaning Nigerians were clamouring for the removal of subsidy on Premium Motor Spirit (PMS), famous in Nigeria as petrol, because the subsidy regime was laced with corruption, while enriching few privileged and unscrupulous business people.
Efforts by several successive governments, including military regimes, could not summon enough courage to put an end to the menace. Why? It was always met with stiff resistance from the masses.
The fear of mass revolt and resistance discouraged several governments from taking the bull by the horn, despite counsel from well-informed and well-meaning individuals and organisations, including the World Bank.
However, the President Bola Ahmed Tinubu administration has bitten the bullet.
The date, May 29 has come to be known in Nigeria as democracy day.
However, when President Tinubu welcomed himself to office on May 29, 2023 with the stern announcement ‘subsidy is gone’, the day transformed into the day hardship was born to many people.
It was first greeted with confusion, which saw several filling stations shutdown; then an adjustment of the pump prices of petrol from N180 to N490 per litre in the Lagos area.
The removal of subsidy also saw marketers selling at different prices in different parts of Nigeria, with prices per litre, ranging from N490 to N750.
The signal, meant a new day, indeed a day of adversity to many Nigerians. But it appears that the people are confronting the demon with tenets in Robert H Schuller’s bestseller, “Tough Times Never Last, But Tough People Do”.
All over the world, Nigerians are famous for courage and their ‘can do spirit’. So it appears that with the shock, Nigerians quickly swung to survival modes.
Consequently, the unveiling of tough times by President Tinubu has seen Nigerians mutate to their tough sides. After all, life must go on.
How People in the Lagos Area Are Adapting
In the Lagos area, the working class have resorted to hibernating, rotation, trekking, skipping meals, cooking at the office, two-or-three-day working week, remote working, e-trading, among others, to keep themselves going.
An administrative manager with a manufacturing concern in the Ikeja area of Lagos State, Elendu Uwarue, lives in Gowon Estate, Ipaja.
He copes with the subsidy removal which has seen transportation cost from his house to office move from N800 to N2500 per day by hibernating.
He said, “I commute twice a week, Mondays and Fridays. I leave for the office very early, so that I can join those who hustle with their private cars at affordable rates on Monday.
“I hibernate at the office till Friday when I also make sure that I leave late to ensure that I don’t spend too much on transportation.”
In a related situation, a banker, Tosin Olaito, informed Biztellers that in her department, they have fallen back to survival instincts and resorted to rotation.
What this means according to Olaito, is that, not everyone has to be physically on duty every day.
A department of 10 people can opt to have three or four people on seat to take on the day’s tasks. Others can support remotely.
For those who have been wondering why several banking halls are sparsely populated by employees, this might be one of the reasons.
“We agree among ourselves who should be physically present and who can be sending in in-swingers. On the day you’re to support from your location, you will quickly go the branch nearest to your house and sign-in, and you’re good to go,” she said.
Transporters Lament
Biztellers reports that transporters are lamenting because the prevailing economic situation does not permit them to adjust charges to cover escalating costs from the subsidy removal.
A transporter, Segun Olawuyi, took to his Facebook page to lament that while cost of petrol, a major input for the business has gone up by over 300 percent, they are only able to increase charges by 50-100 percent in some cases.
Olawuyi wrote, “This is not a good time for transport business. Imagine paying three times what you used to, for petrol only to charge about 100 percent what you used to.”
Biztellers’ investigations revealed that fares have increased, albeit marginally in some cases. There are some extreme cases where no increase has been recorded at all.
For instance, a shuttle within the Ikeja business district used to be N100 per trip in commercial buses, say from Ikeja under-bridge to Alausa-Secretariat-Express. But it has increased to N150 per trip.
Another transporter, Olopo Andy told Biztellers that they had to reduce the fare from N200 to N150 when they noticed that majority of the people turned to ‘legging it’ instead of riding in the buses.
“Oga na leggedes be king now o. Since (President) Tinubu enter, na so, so trek people dey trek o. We no dey see passenger carry again,” he lamented.
Biztellers observed that several people were trekking the estimated four-six-kilometer distance between Express-Ikeja-Along through Awolowo Road to Express-Alausa area.
Walking long distances to and from work, business locations and other places has become increasingly popular with the people having no choice.
Some people have been asserting, albeit jokingly that those trekking in Nigeria because of hardship would soon earn her a world record in the Guinness World Records (GWR).
General impact
The greatest impact of the fuel subsidy removal might yet be in the in the mounting angst among the populace. Everything imaginable has seen their prices jumped through the roof, including foodstuffs. This has left the populace irritable.
People are lamenting everywhere about economic hardship. The public outcry doesn’t seem to be heading anywhere near the ears of those in power with fears becoming palpable that any little thing can ignite public outrage of uncontrollable measures.
However, a public affairs analyst, Charles Ikewe told Biztellers that it doesn’t all have to do with the subsidy.
“There was hardship before President Tinubu was sworn in,” he started. “What is evident,” he continued, “is that things have gone from bad to worse, which the masses can longer bear.”
He traced it to previous governments who could not make bold and timely policy pronouncements.
The cumulative result from Ikewe’s perspective might be best expressed in the words of a former American President, Abraham Lincoln, “You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.”
As things stand, the removal of subsidy on petrol has enthroned ‘leggedess’ as king of Nigerian roads, but only time will tell how long it would be and how the people react to it.
The Aliko Dangote Foundation (ADF) has unveiled the Women’s Share Subscription Grant Initiative (WSSGI), a pioneering financial inclusion programme aimed at increasing women’s participation in Nigeria’s capital market through the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).
The nationwide initiative is designed to support up to two million Nigerian women, with a special focus on low- and middle-income earners, as well as vulnerable women. Through the programme, ADF seeks to expand access to equity ownership, promote a culture of savings and long-term investing, and empower women with greater opportunities for wealth creation through responsible participation in the capital market.
The initiative is open to several categories of beneficiaries, including independent applicants earning ₦100,000 or less per month, verified participants in designated ADF programmes such as CRoWN, ADFIN, and Mu Shuka Iri, eligible non-commissioned servicewomen and service spouses, as well as verified service widows.
To accommodate different categories of participants, the initiative provides two pathways for entry: Matching Grant Track: Eligible independent applicants who subscribe to a minimum of 10 shares will receive an ADF-funded application for an additional 10 shares in their name.
Unconditional Grant Track
The ADF will fund an application for 20 shares on behalf of eligible beneficiaries who satisfy programme eligibility, investor identification, and Know Your Customer (KYC) requirements.
This category covers verified beneficiaries from designated ADF programmes and verified service widows.
Under both tracks, grant funds will be applied directly through the designated issuing house. No cash payments will be made to beneficiaries, government agencies, or sponsors. Any shares successfully allotted will be credited solely to the beneficiary and held in her name.
Eligibility Requirements
Applicants must be Nigerian women aged 18 years and above; resident in Nigeria; meet the eligibility requirements of their respective participation category; successfully complete all required identity verification and KYC processes; and receive no more than one ADF share grant across all Foundation share grant schemes.
The ADF is implementing the initiative in partnership with Vetiva Capital Management and the Nigerian Exchange Group (NGX) through the Securities and Exchange Commission (SEC)-approved IPO subscription infrastructure.
The Foundation will not receive, collect, or hold applicants’ or sponsors’ subscription funds. All applications, payments, allotments, and refunds will be handled in accordance with the IPO Prospectus, applicable regulatory requirements, and the approved basis of allotment.
Participation in the programme is entirely voluntary. Prospective investors should note that share prices may fluctuate, dividends are only payable when declared, and neither allotment nor investment returns are guaranteed.
To facilitate broad participation, applicants are not required to have an existing Central Securities Clearing System (CSCS) account. Where necessary, accounts will be created through Vetiva upon successful completion of the IPO’s KYC requirements.
Eligible independent applicants may submit their applications exclusively through the official ADF portal at ipo.alikodangotefoundation.org.
READ ALSO: 40 Oil Blocks up for Grabs as NUPRC Opens 2026 Bid Round
Beneficiaries affiliated with the ADF programmes and verified service widows will receive application guidance through approved Foundation channels.
The offer closes on 13 October 2026.
The ADF urges prospective participants to remain vigilant against fraud. Applicants should not make payments to agents, individuals, or personal bank accounts in exchange for grants or promises of guaranteed allotment. Passwords, PINs, and one-time passwords (OTPs) should never be shared, and any unexpected payment request or online link should be verified through official channels before action is taken.
Through this initiative, the ADF is reinforcing its commitment to inclusive economic empowerment, broadening access to investment opportunities, and enabling more Nigerian women to participate meaningfully in the nation’s wealth creation journey.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a pipeline of major offshore projects with the potential to attract significant new investment into Nigeria’s upstream petroleum sector.
This is as the commission has intensified efforts to convert the country’s substantial hydrocarbon resources into producing assets and sustainable economic value, the NUPRC said in a statement.
According to the statement, Nigeria’s upstream investment outlook was presented at the Nigeria Investment Forum 2026 in New York by the Commission Chief Executive (CCE), Oritsemeyiwa Eyesan.
Eyesan, who was represented by the Executive Commissioner, Corporate Services and Administration, Dr. Kelechi Ofoegbu, highlighted the emerging investment opportunities across Nigeria’s offshore, gas and brownfield assets, noting that the combination of regulatory reforms, improved project economics and a growing pipeline of development-ready assets is creating new opportunities for investors and industry partners.
READ ALSO: NCDMB, Zeconia Global Train 50 on Digital Oilfield Operations
A key feature of the presentation, it said, was the identification of 22 major offshore projects, comprising 12 deepwater and 10 shallow-water developments, as part of the pipeline capable of driving substantial new capital into the sector.
According to the commission, the projects include major developments such as Bonga Southwest, Aparo, Zaba Zaba, Owowo, Bosi and Egina South.
The NUPRC also highlighted recent capital commitments across projects including Bonga North, Obeta Gas Development, HIN Associated Gas Development and Iseni Gas Development, demonstrating the movement of investment interest towards actual project development.
The average prices of petrol and diesel have risen by 86 percent in 2026, with the two products reaching their highest average price levels for the year by September 22, according to the latest fuel price trend report by priceandpromo.
The report stated that the average price of Premium Motor Spirit, popularly known as petrol, rose to N1,378 per litre by September 22, while automotive gas oil, commonly known as diesel, increased to N1,899/litre.
It puts the increase in the price of petrol at 80.8 percent from the January 13 base, while diesel recorded a 91.8 percent rise over the same period. The average increase of the two products is 86.3 percent, which rounds to 86 percent.
The report stated, “The latest priceandpromo fuel price trend shows renewed upward movement following the relative stability observed between April and July.
“Petrol rose to an average of N1,378 per litre by 22 September, while diesel increased to an average N1,899 per litre, the highest average price levels recorded for both products in the displayed 2026 series.”
READ ALSO: NNPC Ltd Celebrates Second Year of Zero Voluntary Resignations
According to the report, petrol prices had increased sharply in March before remaining relatively stable at elevated levels between April and July. “After the sharp March increase, fuel prices stabilised at higher levels through July before rising again in August and September,” it added.
The renewed increase came amid heightened volatility in the international energy market, according to the report, which noted that the domestic market remained exposed to movements in global energy costs.
“The renewed increase comes amid heightened global energy-market volatility, highlighting the domestic market’s continued exposure to shifts in international energy costs,” the report added.
The report indicated that the latest movement in fuel prices could have wider implications for transportation, logistics and the cost of distributing goods, given the importance of petrol and diesel to economic activities.
The report noted that fuel prices remained an important channel through which changes in energy costs could feed into transportation and other consumer costs.
The report further warned that the renewed increase in both products is a development to monitor because of its potential implications for the movement of people and goods.
It said, “The renewed increase in both petrol and diesel is therefore an important market signal to watch, particularly for its potential implications for mobility, logistics costs and the wider cost of moving goods through the market.”
The report’s figures show that the increase in diesel prices has outpaced that of petrol, with AGO rising by 91.8 percent compared with PMS’s 80.8 percent increase.
Courtesy – The PUNCH
IPO: ADF Opens Wealth Creation Pathway for 2m Vulnerable Nigerian Women
2027: Tinubu Will Beat Atiku, Obi by Wide Margin, Says Bwala
‘Dem Dey Use Stick Dey Flog Women’ — Nigerians in India Camp Cry Out
2027: I’ll Bring Petrol Price Down to ₦300, Says Donald Duke
2027: INEC Must Prove Nigerians Wrong on Election Credibility — Donald Duke
‘Military Gets Huge Budgets, Yet Air Crashes Persist’ — Shehu Muhammad
Trump’s Family Unveils New Cryptocurrency Platform
Senate Denies Receiving Petitions Against Tinubu’s Ambassadorial Nominees
Dangote Cement Lights Up Benue Host Communities With CSR Initiatives
Reps Recommend 3-year Jail Term For Aviation minister
Tems Sets New Record On Billboard Hot 100 Chart
