Sterling Bank has renewed calls for decisive reforms to fix Nigeria’s transport and logistics system, with senior executives warning that persistent inefficiencies continue to erode economic performance and increase the cost of doing business.
Speaking on the issue, key representatives of the bank, including Abubakar Suleiman, Managing Director and Chief Executive Officer of Sterling Bank, stressed the urgency of addressing long-standing structural gaps. He noted that delays, congestion, and weak coordination across the logistics chain have created systemic inefficiencies that directly affect trade and productivity.
According to Suleiman, the sector’s current state reflects years of underinvestment and fragmented planning. He argued that without a unified and strategic approach, interventions will remain ineffective. In his words, “the transport and logistics sector requires urgent and coordinated action to unlock its full potential.”
Also contributing to the discussion, Bola Adesola, Chairman of Sterling Bank, emphasised the economic implications of inefficiency in the sector. She pointed out that transport systems are fundamental to market access, price stability, and national competitiveness. “An efficient logistics system is critical to reducing costs and improving productivity across sectors,” she stated.
The bank’s leadership highlighted infrastructure deficits as a primary constraint. Road networks remain overstretched, port operations are often delayed, and rail systems are underutilised. These gaps, they argued, have combined to slow the movement of goods and inflate operational costs for businesses.
Beyond infrastructure, Sterling Bank identified regulatory and institutional challenges. Overlapping mandates among agencies and inconsistent policy implementation continue to create uncertainty for investors and operators. Suleiman noted that “policy clarity and institutional alignment are essential to drive efficiency and attract long-term investment.”
The executives also pointed to the need for improved financing models. Traditional funding approaches, they argued, are insufficient to meet the scale of infrastructure demand. The bank advocated innovative financing structures that can mobilise private capital and support sustainable development in the sector.
Technology and data integration were equally highlighted as critical areas for reform. The bank observed that limited adoption of digital tools has slowed operational efficiency and reduced visibility across supply chains. Strengthening these systems, it suggested, would improve coordination and reduce delays.
Sterling Bank further linked transport reform to broader economic outcomes. Inefficiencies in logistics, it noted, contribute to higher food prices, increased production costs, and reduced competitiveness of Nigerian goods in international markets. Addressing these issues, therefore, is not limited to the sector alone but extends to overall economic stability.
The call for reform was made in the context of ongoing stakeholder engagements, including the Nigeria Transport and Logistics Summit, where industry leaders are examining “efficiency and cost challenges” and proposing actionable solutions.
In conclusion, Sterling Bank’s leadership presented a clear and firm position: Nigeria’s transport and logistics sector requires urgent, coordinated, and sustained reform. With targeted investment, stronger policies, and improved operational systems, the sector can shift from a constraint to a catalyst for growth.
