Economy
Lagos Assembly Orders Arrest of Touts Harassing Logistics Operators
By Modupe Gbadeyanka
The Lagos State House of Assembly has directed the Commissioner of Police, Mr Hakeem Odumosu, to ensure the arrest of all local council officials and touts harassing logistics operators in the state.
This decision was reached at the plenary on Monday when the lawmaker representing Kosofe 1 at the state parliament, Mr Ganiu Sanni Okanlawon, moved a motion, calling 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 harassed by the local governments.
He argued 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.
While contributing to the motion, another lawmaker, Mr Bisi Yusuff, frowned at the use of local government task force to deal with operators of courier services, saying it was an embarrassment to the state government, saying some operators took some local governments to the court on the issue in the past and won.
On his part, the Leader of the House, Mr Sanai Agunbiade, said that courier and logistics services help people in different areas to interact with their customers, adding 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 their business.
“The revenue should be centralized among the local governments. The House once passed a law to regulate the collection of fees by local governments. The law stated that whoever is collecting levies for the local governments must be identified,” he suggested.
In his contribution, Mr Lukman Olumoh accused some of the local government officials of issuing out fake documents, suggesting that consultants should be employed for such activities, while Mr Fatai Mojeed 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 harassment of courier and logistics operators by local government officials.
On his part, Mr Abiodun Tobun lamented that some of the courier services organisations do not live up to expectations, saying, “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.”
Also speaking, Mr Lanre Afinni suggested that the collection of revenue for the local governments could be centralized and shared among them, adding that multiple taxations affect the profit of courier services companies.
In his view, Mr Moshood Oshun said that most of the local governments and LCDAs have traffic sections and that they charge exorbitant fines, urging that the traffic sections of these councils be looked into because they sometimes go to the extreme of arresting and harassing people.
For Mr Setonji David, 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 recognized by law. They also help transportation in the state as they help in distributing items,” he said.
On the part of the Speaker of the House, Mr Mudashiru Obasa, he emphasised that local government councils and LCDAs do not have the power to tax logistics and courier services, stressing that they are only limited to registration of bicycles as dictated by the constitution of the country.
Mr Obasa said it was lamentable, especially as such acts affect the 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 organized 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 operators 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,” he added.
At the end of the debate, the House 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.
By Adedapo Adesanya
The United Kingdom via the British High Commission in Abuja has launched two flagship economic reform programmes – the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF) -as part of efforts to support Nigeria’s economic reform and growth agenda.
Backed by a £12.4 million UK investment, NEST and NPFF sit at the centre of the UK-Nigeria mutual growth partnership and support Nigeria’s efforts to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private-sector growth.
Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission in Abuja, said, “These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The launch followed the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the approach of both programmes and confirmed strong alignment between the UK and Nigeria on priority areas for delivery.
Representing the Government of Nigeria, Special Adviser to the President of Nigeria on Finance and the Economy, Mrs Sanyade Okoli, welcomed the collaboration, touting it as crucial to current, critical reforms.
“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians.”
On his part, Mr Jonny Baxter, British Deputy High Commissioner in Lagos, highlighted the significance of the programmes within the wider UK-Nigeria mutual growth partnership.
“NEST and NPFF are central to our shared approach to strengthening the foundations that underpin long-term economic prosperity. They sit firmly within the UK-Nigeria mutual growth partnership.”
By Aduragbemi Omiyale
A strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs) has been signed by MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The collaboration will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs.
With millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN say their shared platform will address gaps in communication, misinformation, and access to opportunities.
At the formal signing of the Memorandum of Understanding (MoU) on Thursday, November 27, 2025, in Lagos, the stage was set for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.
The chief operating officer of MTN Nigeria, Mr Ayham Moussa, reiterated the company’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.
“SMEs are the backbone of the economy and the backbone of employment in Nigeria. We are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets. This collaboration serves both our business and social development objectives,” he stated.
Also, the Chief Enterprise Business Officer of MTN Nigeria, Ms Lynda Saint-Nwafor, described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.
“Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need. We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale,” she noted.
Also commenting, the Director General of SMEDAN, Mr Charles Odii, emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.
“We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff. We cannot fulfil our mandate without technology, data, and strong partners.
“MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years,” he disclosed.
Mr Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development.
He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.
By Adedapo Adesanya
The Nigerian Exchange (NGX) Limited is seeking review of the controversial Capital Gains Tax increase, fearing it will chase away foreign investors from the country’s capital market.
Nigeria’s new tax regime, which takes effect from January 1, 2026, represents one of the most significant changes to Nigeria’s tax system in recent years.
Under the new rules, the flat 10 per cent Capital Gains Tax rate has been replaced by progressive income tax rates ranging from zero to 30 per cent, depending on an investor’s overall income or profit level while large corporate investors will see the top rate reduced to 25 per cent as part of a wider corporate tax reform.
The chief executive of NGX, Mr Jude Chiemeka, said in a Bloomberg interview in Kigali, Rwanda that there should be a “removal of the capital gains tax completely, or perhaps deferring it for five years.”
According to him, Nigeria, having a higher Capital Gains Tax, will make investors redirect asset allocation to frontier markets and “countries that have less tax.”
“From a capital flow perspective, we should be concerned because all these international portfolio managers that invest across frontier markets will certainly go to where the cost of investing is not so burdensome,” the CEO said, as per Bloomberg. “That is really the angle one will look at it from.”
Meanwhile, the policy has been defended by the chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, who noted that the new tax will make investing in the capital market more attractive by reducing risks, promoting fairness, and simplifying compliance.
He noted that the framework allows investors to deduct legitimate costs such as brokerage fees, regulatory charges, realised capital losses, margin interest, and foreign exchange losses directly tied to investments, thereby ensuring that they are not taxed when operating at a loss.
Mr Oyedele also said the reforms introduced a more inclusive approach to taxation by exempting several categories of investors and transactions.
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