Stakeholders Seek Urgent Investment to Unlock N15trn Transport, Logistics Potential

Industry leaders, policymakers and financiers have called for urgent, coordinated investment and execution to unlock Nigeria’s transport and logistics sector, estimated to hold over N15 trillion in potential value but constrained by infrastructure deficits and financing gaps.

The call was made at the inaugural Nigeria Transport & Logistics Summit (NTLS) 2026, hosted by Sterling Bank in Lagos, where stakeholders emphasised that fixing the country’s logistics backbone is critical to driving productivity, trade competitiveness and economic growth.

Speaking at the summit, the managing director and chief executive of Sterling Bank, Abubakar Suleiman, who was represented by the chief executive of Sterling One Foundation, Olapeju Ibekwe, stressed the need to move beyond identifying challenges to implementing lasting solutions.

“We must move beyond diagnosing the problem to building integrated, modern logistics systems that can power productivity at scale. This means fixing our ports, strengthening logistics corridors, improving road and rail connectivity, and embedding efficiency across the value chain,” he said.

Suleiman added that Nigeria’s global and regional competitiveness would increasingly depend on the efficiency of its transport systems, warning that “the time for incremental change has passed; what is required now is bold, coordinated execution across public and private sectors.”

Also speaking, the divisional head, Renewable Energy, Mobility and Tourism at Sterling Bank, Darlington Nwankwo, described logistics as the backbone of trade and national competitiveness, noting that its impact extends far beyond its contribution to gross domestic product.

“We must be deliberate about fixing the logistics backbone of the economy if we are to unlock the growth we need. Nigeria’s trade competitiveness is directly linked to the efficiency of its logistics corridors, from ports to inland distribution networks,” he said.

Nwankwo explained that the bank is focused on “connecting capital to execution,” through financing models that not only fund infrastructure but also unlock entire value chains, including support for multimodal transport systems and cleaner mobility solutions.

In his remarks, the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, called for bold policy actions and strategic investments, urging stakeholders to transition swiftly from planning to implementation.

He described the summit as a critical platform to shape the future of mobility and trade in Nigeria, while encouraging investors and industry leaders to prioritise efficiency, sustainability and accountability.

Delivering the keynote address, economist Biodun Adedipe highlighted structural challenges in the sector, noting that nearly 90 per cent of Nigeria’s logistics operations rely on road transport, leading to congestion and rising maintenance costs.

He stressed the need for diversification into rail and more durable infrastructure, cautioning that meaningful economic transformation would take time to materialise.