This was contained in a statement issued by the Commissioner for Transportation, Dr. Frederic Oladeinde, on Thursday.
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The development was contained in a statement on Monday in Ikeja by the Lagos State Ministry of Transportation.
A survey conducted by NAN in some major markets at Mile 12, Oyingbo and Mushin on Thursday and Friday showed that prices of some food items jumped by more than 25 per cent.
This was based on a survey conducted by NAN in four major markets, including Mile 12 and Oyingbo, on Saturday in Lagos.
Rasheedat Essien, the Council Chairman, gave the warning while speaking with the News Agency of Nigeria on Friday.
The tricycle operators, commonly referred to as Keke Maruwa, urged the government to rescind its ban on commercial motorcycle and tricycle operators in 15 local government and council development areas, which began on February 1.
The State Government said the construction is in continuation of the proposed modern smart city currently embarked upon by the Lagos State Governor, Akinwunmi Ambode.