Stakeholders Chart Path to Transform Nigeria’s Transport and Logistics Sector
Key players across Nigeria’s financial, policy, and logistics ecosystem have outlined a roadmap for revitalising the country’s transport and logistics sector, positioning it as a central driver of economic growth and national productivity.
The discussions took place at the inaugural Nigeria Transport & Logistics Summit (NTLS) 2026, hosted by Sterling Bank at the Eko Hotel & Suites in Lagos. The summit, themed “Funding the Engine of Growth,” brought together policymakers, financiers, and industry leaders to address long-standing structural challenges and unlock the sector’s vast potential.
Widely regarded as the backbone of the economy, Nigeria’s transport and logistics ecosystem plays a critical role in facilitating trade, mobility, and industrial activity. While the logistics subsector alone contributes roughly N1 trillion to the country’s Gross Domestic Product (GDP), experts estimate that the broader market could exceed N15 trillion in value. Despite this, persistent infrastructure deficits, funding constraints, and policy inconsistencies have continued to hinder growth.
Speaking at the event, Managing Director and CEO of Sterling Bank, Abubakar Suleiman—represented by Olapeju Ibekwe, CEO of Sterling One Foundation—called for urgent and coordinated reforms to address systemic inefficiencies.
He noted that while challenges such as port congestion, weak logistics corridors, and high operational costs are well known, the real gap lies in execution. According to him, Nigeria must transition from merely diagnosing problems to implementing integrated, modern logistics systems capable of driving productivity at scale.
He emphasised the need to overhaul critical infrastructure, including ports, road networks, and rail systems, while embedding efficiency across the entire value chain. Such reforms, he said, are essential for enhancing Nigeria’s competitiveness both regionally and globally.
Also contributing, Darlington Nwankwo, Divisional Head of Renewable Energy, Mobility and Tourism at Sterling Bank, reinforced the sector’s importance as a key enabler of economic activity. He explained that although logistics contributes just under four percent to GDP, its broader impact is far greater when viewed through its role in supporting agriculture, manufacturing, and trade.
Nwankwo stressed that improving logistics efficiency—from seaports to inland distribution networks—is directly tied to Nigeria’s ability to compete in global markets. He urged stakeholders to adopt a more deliberate and coordinated approach to strengthening the country’s logistics backbone.
Overall, the summit underscored a shared consensus: unlocking the full potential of Nigeria’s transport and logistics sector will require bold investments, policy alignment, and sustained collaboration between the public and private sectors.