Sterling Bank Plc has called for bold reforms and coordinated investments to unlock the full potential of Nigeria’s transport and logistics sector, as stakeholders gathered for the inaugural Nigeria Transport & Logistics Summit, NTLS 2026 in Lagos.
The summit, held at Eko Hotel & Suites, brought together policymakers, industry leaders, financiers, and development partners to chart strategies for improving mobility, trade, and connectivity across the country.
With the theme “Funding the Engine of Growth,” the event positioned the transport and logistics sector as a critical yet underutilised driver of economic productivity, regional integration, and national growth.
Speaking at the summit, the Managing Director and CEO of Sterling Bank, Abubakar Suleiman, represented by Olapeju Ibekwe, stressed the need for urgent and coordinated action to address longstanding challenges in the sector.
“We must move beyond diagnosing the problem to building integrated, modern logistics systems that can power productivity at scale,” he said, highlighting the need to fix ports, strengthen logistics corridors, and improve road and rail connectivity.
Suleiman noted that Nigeria’s competitiveness would increasingly depend on how efficiently goods, people, and services are moved, adding that incremental reforms were no longer sufficient.
Also speaking, Divisional Head, Renewable Energy, Mobility and Tourism at the bank, Darlington Nwankwo, described logistics as the backbone of trade and national competitiveness. He emphasised the need for targeted investments and innovative financing models to unlock growth across key sectors.
“We must be deliberate about fixing the logistics backbone of the economy if we are to unlock the growth we need,” he said, adding that Sterling Bank is focused on connecting capital to execution and supporting multimodal transport systems.
The Oluwaseun Osiyemi, also called for strategic investments and forward-looking policies, urging stakeholders to move from planning to implementation while promoting efficiency and sustainability.
In his keynote address, Biodun Adedipe highlighted structural challenges within the sector, noting that Nigeria’s heavy reliance on road transport, accounting for nearly 90 per cent of logistics, has contributed to congestion and rising maintenance costs.
He advocated greater investment in rail infrastructure and warned that meaningful economic transformation would require sustained effort over time.
Panel sessions at the summit focused on reducing logistics costs, improving aviation-road integration, modernising energy distribution systems, and advancing cleaner mobility solutions.
Participants collectively emphasised the need for stronger public-private partnerships, improved regulatory coordination, and structured financing mechanisms to de-risk infrastructure investments.
The summit concluded with a shared commitment to building a more efficient, resilient, and globally competitive transport and logistics ecosystem, seen as critical to boosting Nigeria’s trade capacity and non-oil export growth.
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