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.
With a view to improving operational efficiency, safety, compliance and service delivery across its operations, Pinnacle Oil & Gas Limited has reaffirmed commitment to building stronger relationships with its vendors.
The company made the commitment at its 2026 Vendors’ Forum held in Lagos under the theme, “Partnering for Operational Excellence,” with the sub-theme, “Strengthening Partnerships Through Compliance, Safety, Performance and Innovation.”
The forum brought together more than 100 existing and prospective vendors as well as key stakeholders, both physically and virtually, to strengthen collaboration and align suppliers with the company’s operational standards and growth strategy.
Speaking at the event, Managing Director and Chief Executive Officer of Pinnacle Oil & Gas, Adenike Labinjo, described vendors as strategic partners whose commitment to quality, innovation, safety and compliance is critical to the company’s success.
She said as Pinnacle continues to expand its operations, it has become increasingly important for the company and its vendors to share a common understanding of expectations, responsibilities and performance standards.
Labinjo stressed that safety, regulatory compliance and ethical business practices remain non-negotiable in all engagements with suppliers.
She noted that stronger collaboration with vendors would help the company deliver greater value to customers and other stakeholders while supporting sustainable business growth.
The forum featured technical presentations by senior executives from the company’s Procurement, Engineering, Compliance, Finance, Legal, Health, Safety and Environment (HSE), and Sales and Marketing departments.
Participants received guidance on Pinnacle’s procurement procedures, vendor onboarding and prequalification processes, Know Your Customer (KYC) requirements, tax invoicing, payment processes, contractual obligations, technical specifications, contractor responsibilities, supplier performance expectations and Service Level Agreements.
The company also unveiled improvements to its Purchase Order (PO) process aimed at improving efficiency, transparency and ease of doing business with vendors.
A major highlight of the event was an interactive question-and-answer session where vendors engaged directly with the company’s leadership on procurement procedures, compliance requirements, project execution, HSE standards and areas for continuous improvement.
According to Pinnacle, the session reinforced its commitment to transparency, open communication and stronger collaboration with suppliers.
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The company also recognised outstanding vendors whose contributions have supported its operational performance over the past year. Five companies received Certificates of Recognition for exceptional service delivery, innovation and partnership.
The award recipients were Great Grace Enterprise for Outstanding Delivery Performance, Cevets Nigeria Limited for Excellence in Project Delivery, Ceezik Projekts for Outstanding Quality, Diadco Nigeria Limited for Outstanding Responsiveness, and Sephill Innovative Solutions Limited for Best Commercial Value.
On the significance of the forum, Head of Procurement and Administration, Oluseyi Ogunfowora, said the initiative reflects Pinnacle’s determination to build stronger partnerships through transparency, collaboration and shared accountability.
She explained that the procurement function coordinates the requirements of Engineering, Operations, Marine, Compliance, Legal, Finance, HSE and other business units to ensure a fair, efficient and transparent procurement process.
Ogunfowora urged vendors to submit complete and compliant documentation, communicate proactively and seek clarification whenever necessary.
“The success of our business depends on the strength of our partnerships,” she said. “When vendors clearly understand our expectations and we work together with transparency, compliance and open communication, we create a high-performing vendor ecosystem that benefits everyone.”
She added that the 2026 Vendors’ Forum forms part of Pinnacle’s broader strategy to strengthen supplier engagement, improve operational efficiency and reinforce a culture of compliance, safety, innovation and continuous improvement throughout its value chain.
Poised to help in addressing the shortage of skilled technical manpower locally, the Nigerian Content Development and Monitoring Board (NCDMB) has graduated 50 Nigerians as certified crane operators under a specialised training programme, which empowers them with global standards in the trade.
The four-week Crane Operations Operator Level I and II Training Programme, implemented in partnership with Zigma Limited, equipped participants with internationally recognised technical knowledge, practical operating skills and safety competencies required for crane operations across the oil and gas, construction and industrial sectors.
During the graduation ceremony, the Executive Secretary of NCDMB, Felix Ogbe, represented by Halvin Okonmah, explained that the initiative forms part of the Board’s commitment to developing Nigerian professionals capable of meeting the industry’s growing technical manpower needs.
He said the programme aligns with the Board’s statutory mandate under the Nigerian Oil and Gas Industry Content Development Act (NOGICD) to build human capital, expand opportunities for Nigerians in specialised technical roles and deepen local participation in the energy sector.
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According to him, the training will strengthen industry capacity while fostering innovation, partnerships and sustainable growth.
“This event will foster stronger partnerships, inspire fresh ideas and deepen the development of skilled local capacity for the benefit of our industry and our nation,” he said.
He urged the graduates to uphold the Board’s core values of patriotism, professionalism, integrity, creativity, passion and teamwork.
The Managing Director of Zigma Limited, Funmi Ogbue, represented by the company’s Chief Operating Officer, Ojinika Mba-Kalu, described the graduation as a milestone in developing Nigeria’s technical workforce, stressing that the country’s industrial future depends on investments in skilled manpower.
She said participants received intensive classroom and practical training covering crane operating principles, lifting operations, equipment inspection, load handling techniques, signalling and communication, hazard identification, risk assessment, and Health, Safety and Environment (HSE) standards. “This is a testament to what can be achieved when institutions, industry and individuals unite around a common purpose of building the capacity of Nigerians to compete, excel and lead within our nation’s oil and gas industry,” she said.
Ogbue added that Zigma would continue collaborating with government agencies and industry stakeholders to deliver more capacity-building programmes capable of producing globally competitive Nigerian professionals.
Presenting the project report, Zigma’s Project Manager, Amy Nwadiaro, disclosed that the programme attracted significant interest nationwide, with 355 applications received. Following a rigorous selection process, 65 applicants were shortlisted for screening, while 50 participants were eventually admitted into the training.
She said all 50 trainees successfully completed the programme, representing a 100 per cent completion rate.
“The response to this initiative was overwhelming. We received 355 applications, shortlisted 65 candidates for screening and admitted 50 participants, all of whom successfully completed the programme,” she said.
On behalf of the graduating trainees, Evidence Ojie described the programme as practical proof that Nigerian Content development extends beyond policy declarations to tangible investment in local talent.
He said the training provided participants with critical competencies in boom set-up, working range calculations, load chart interpretation and safety margins required for offshore and industrial crane operations.
According to him, the knowledge acquired would enable the graduates to compete effectively for technical roles on rigs, offshore platforms and industrial facilities both within Nigeria and internationally.
Industry stakeholders at the event also underscored the importance of certified crane operators in improving workplace safety, reducing operational accidents and enhancing efficiency in high-risk sectors such as oil and gas, construction and heavy industry.
Improved operating performances have seen Eterna Plc report higher revenue and profitability for the second quarter and half-year ended June 30, 2026.
The company’s unaudited consolidated financial results showed that revenue rose by 38 per cent to N217.31bn from N157.65bn in the corresponding period of 2025.
The results show that gross profit more than doubled to N15.99bn, while operating profit increased to N8.78bn from N2.34bn. Profit before tax rose by 389 per cent to N7.67bn from N1.57bn recorded in the corresponding period of 2025.
Profit after tax (PAT) increased to N5.88bn from N573.81m, while earnings per share (EPS) improved to N2.69 from N0.44.
The company also reported an improved financial position, with total assets standing at N82.75bn as of June 30, 2026.
Cash and bank balances increased to N20.36bn from N4.79bn as of December 31, 2025, while total liabilities declined to N51.22bn from N84.43bn. Total equity rose to N31.53bn from N7.77bn, reflecting stronger liquidity and capitalisation.
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On the results, the Managing Director/Chief Executive Officer, Dr. Jude Nwaulune, said, “These results demonstrate the strength of our business and the impact of disciplined execution across our operations. The significant improvement in profitability and financial position provides a solid foundation to advance our growth priorities.
“The successful Rights Issue has further strengthened our balance sheet, resulting in a healthy leverage position, stronger equity and improved net assets. We remain focused on expanding our retail, aviation, lubricants and gas businesses, improving operational efficiency and customer experience, and delivering sustainable value to shareholders and other stakeholders.”
The company said its full unaudited consolidated financial statements for the half-year ended June 30, 2026, are available on its website.
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