Sterling Bank Calls for Urgent Actions to Fix Nigeria’s Transport, Logistics Sector
Dike Onwuamaeze
As Nigeria seeks to strengthen its regional trade position and unlock non-oil export growth, the Managing Director/Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman, has called for urgent, coordinated actions that would fix the country’s transport and logistics sector and enable it to contribute its full potentials to the economy.
Suleiman, who was represented by Sterling One Foundation CEO, Mrs. Olapeju Ibekwe, made this call during the inaugural edition of Nigeria Transport and Logistics Summit (NTLS) 2026, that was hosted by Sterling Bank at Eko Hotel and Suites, Lagos, with the theme ‘Funding the Engine of Growth’.
The summit positioned Nigeria’s transport and logistics sector as a critical but under-leveraged driver of productivity, regional integration, and economic growth, pointing out that while the sub-sector contributed approximately N1 trillion to national GDP, its market value exceeded N15 trillion in potential value.
He emphasised that while Nigeria’s transport and logistics challenges ranged from port congestion to inefficient corridors and high operating costs are well documented, the real opportunity lies in effective execution of policies and ideas that will move the sector forward.
He said, “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.”
According to him, Nigeria’s competitiveness, both regionally and globally, increasingly depends on how effectively goods, people, and services are moved within the country and beyond its boundaries.
Suleiman stated that the time for incremental change has passed, emphasising that “what is required now is bold, coordinated execution across public and private sectors.”
Speaking at the event, the Divisional Head, Renewable Energy, Mobility and Tourism, Sterling Bank, Mr. Darlington Nwankwo, described logistics as the backbone of trade, industry, and national competitiveness.
Nwankwo noted that while the sector contributed below 4.0 per cent to Nigeria’s GDP, which is estimated at approximately N15 trillion, its true economic impact is significantly larger when viewed as an enabler of productivity across agriculture, manufacturing, and trade.
He said, “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.”
“At Sterling, we see our role as connecting capital to execution, designing financing solutions that do not just fund infrastructure but unlock entire value chains.
“This includes supporting multimodal transport systems, enabling cleaner mobility solutions, and partnering with both government and private sector players to reduce investment risk.
“The opportunity before us is not just to fix what is broken, but to build a logistics ecosystem that is faster, more efficient, and globally competitive.”
The Lagos State Commissioner for Transportation, Mr. Oluwaseun Osiyemi, in his remarks echoed the call for bold ideas, strategic investments, and forward-looking policies that would enable the sector to deliver its optimal benefits to the Nigerian economy.
Osiyemi urged policymakers to move swiftly from planning to implementation, and called on investors to support infrastructure and innovation while encouraging industry leaders to champion efficiency, sustainability, and accountability.
In his keynote address, Professor Biodun Adedipe said that nearly 90 per cent of Nigeria’s logistics is dependent on road transport.
Adedipe said that this has laid on the country the burden of mounting congestion and maintenance costs, which has made diversification into rail and more durable infrastructure an Imperative.
Panel discussions during the event focused on reducing logistics costs, strengthening aviation and road integration, moderniSing downstream energy distribution, and accelerating the adoption of cleaner and more sustainable mobility solutions.
The summit concluded with a call for sustained public-private collaboration, stronger regulatory coordination, and the creation of structured financing vehicles to de-risk infrastructure investments.
As Nigeria seeks to strengthen its regional trade position and unlock non-oil export growth, NTLS 2026 marks a decisive step toward building a more integrated, resilient, and globally competitive transport and logistics ecosystem.
