Oyeyemi, Nneji Seek Transport Revolution to Slash Business Costs, Boost Economy

Nigeria is paying a heavy economic price for decades of neglect of its logistics and transportation system, with poor infrastructure, policy inconsistency and rising operating costs eroding business competitiveness, driving up food prices and costing the nation billions of naira annually, leading industry experts have warned.

The President of the Chartered Institute of Logistics and Transport (CILT) Nigeria and former Corps Marshal of the Federal Road Safety Corps (FRSC), Dr. Boboye Oyeyemi, alongside Founder of ABC Transport Plc, Mr. Frank Nneji, made the call in Lagos, urging the Federal Government to embark on sweeping reforms capable of transforming logistics into a catalyst for economic growth.

They spoke at the 10th anniversary celebration of City Business News Online, themed “Logistics as the Engine Room of Nigeria’s Economy”.

Delivering the keynote address, Oyeyemi described logistics as the backbone of every thriving economy, stressing that efficient movement of goods and services is indispensable for production, trade, industrialisation and national development.

He noted that logistics extends beyond transportation to encompass warehousing, supply chain management, storage, distribution and coordination, making it one of the most strategic sectors for sustainable economic growth.

According to him, Nigeria’s logistics ecosystem is weighed down by poor road infrastructure, inadequate rail connectivity, weak inland waterway transport, multiple checkpoints, soaring diesel prices, poor storage facilities and inconsistent government policies.

Oyeyemi observed that over 90 per cent of freight and passenger movement in Nigeria still depends on roads, a situation that has overstretched the highway network, increased transportation costs and reduced operational efficiency across key sectors of the economy.

He lamented that about 40 per cent of agricultural produce harvested in the country never reaches consumers because of poor road networks, transportation delays and inadequate cold-chain infrastructure.

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“The Middle Belt remains the food basket of the nation, yet a significant percentage of agricultural products perish before reaching markets due to poor roads, transportation delays and inadequate storage facilities,” he said.

He warned that the huge post-harvest losses translate into billions of naira in wasted investments annually while worsening food inflation and reducing farmers’ incomes.

Oyeyemi also decried the burden of rising diesel prices, multiple checkpoints and illegal levies along transport corridors, saying the resulting delays and extortion significantly inflate logistics costs that are eventually transferred to consumers.

To reverse the trend, he called for the restoration of weighbridges on major highways, accelerated investment in rail and inland waterway transport, and stronger collaboration among government agencies, professional bodies and private-sector operators.

The former FRSC boss further urged successive governments to maintain policy continuity, warning that abandoned projects and frequent policy reversals discourage investment and slow national development.

While commending ongoing efforts to promote Compressed Natural Gas (CNG) and electric vehicles, he stressed the need for supporting infrastructure to ensure their long-term sustainability and widespread adoption.

Earlier, Publisher of City Business News Online, Mr. Moses Ebosele, said the anniversary theme was deliberately chosen to spotlight the strategic role of logistics in enhancing trade, industrialisation and national competitiveness.

Chairman of the occasion, Mr. Frank Nneji, described transportation and logistics as indispensable pillars of economic development and urged the Federal Government to prioritise the rehabilitation and expansion of the nation’s road infrastructure, which still carries the bulk of passenger and freight traffic.

He also advocated accelerated road concession programmes and greater private-sector participation in infrastructure development, arguing that modern transport networks would reduce logistics costs, improve productivity and strengthen Nigeria’s competitiveness.

Participants at the event unanimously agreed that eliminating logistics bottlenecks, modernising transport infrastructure and ensuring policy consistency are critical to reducing the cost of doing business and unlocking Nigeria’s full economic potential.

Oyeyemi, Nneji Seek Transport Revolution to Slash Business Costs, Boost Economy

Opeifa Seeks EU Investment to Fast-track Nigeria’s Low-Carbon Rail Revolution

The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has called on the European Union, international investors and development finance institutions to channel sustainable investments into Nigeria’s railway sector to accelerate the country’s transition to a low-carbon transport system and drive economic growth.

Opeifa said expanding and modernising Nigeria’s rail network would not only help reduce carbon emissions but also lower logistics costs, improve passenger mobility, create jobs and strengthen regional connectivity, positioning rail as a catalyst for national development.

Speaking at the 10th Nigeria–EU Business Forum on Sustainable Transportation and Global Gateway Opportunities for Partnerships held on Thursday, Opeifa described rail transportation as a strategic national asset capable of advancing Nigeria’s economic transformation while supporting its climate change commitments.

According to him, rail remains one of the cleanest and most energy-efficient modes of transportation, making sustained investment in the sector critical to reducing pressure on the nation’s highways and promoting environmentally friendly mobility.

“By strengthening our railway network, we can significantly reduce carbon emissions, ease congestion on our highways, lower logistics costs, improve passenger mobility, and stimulate industrial and commercial activities across Nigeria,” he said.

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The NRC boss reaffirmed the corporation’s commitment to building a modern, efficient, safe and environmentally sustainable railway system through ongoing reforms aimed at strengthening rail infrastructure, improving operational efficiency and expanding freight services.

He added that the corporation is also creating opportunities for greater private sector participation through sustainable investment models that would unlock long-term value in the railway industry.

Opeifa identified the European Union’s Global Gateway initiative as a major platform for deepening cooperation between Nigeria and international partners in the development of critical rail infrastructure.

He said the corporation is seeking partnerships that would support railway modernisation, deployment of green technologies, renewable energy integration, digital rail systems, capacity building and innovative financing solutions.

According to him, sustainable transportation has become an economic and environmental necessity rather than a policy choice, stressing that investment in rail infrastructure would deliver lasting benefits for future generations.

He urged investors, technology providers, development finance institutions and strategic partners to collaborate with the NRC in transforming Nigeria’s railway network into a resilient, competitive and environmentally sustainable transportation system.

Such investments, he noted, would accelerate Nigeria’s rail decarbonisation journey, facilitate trade, strengthen regional integration and promote inclusive economic development.

Opeifa expressed optimism that stronger collaboration between Nigeria and the European Union would unlock new opportunities for sustainable infrastructure financing and technological advancement in the railway sector.

He also commended the European Union and organisers of the Nigeria–EU Business Forum for providing a platform to promote dialogue, partnerships and investments that support sustainable transportation across Nigeria.

The NRC managing director reiterated that with the right investments and strategic partnerships, Nigeria’s railway sector can become a major driver of economic competitiveness, environmental sustainability and national prosperity.

Opeifa Seeks EU Investment to Fast-track Nigeria’s Low-Carbon Rail Revolution

NAJA Holds 3rd Auto Industry Summit July 30 on Nigeria’s EV, CNG Future

As Nigeria navigates the high-cost reality of post-subsidy transportation, the path toward a more affordable and sustainable future is coming into focus. On July 30, 2026, industry titans and top policymakers will converge at the Radisson Hotel, Ikeja, for the 3rd Nigeria Auto Industry Summit, aiming to turn the promise of electric vehicles and CNG into a practical, everyday reality for Nigerians.

The summit, scheduled for the Radisson Hotel, Ikeja, Lagos, is themed: “Nigeria’s Clean Mobility Future: The EV and CNG Journey Under the Bola Tinubu Administration”, according to a press release by the summit organising committee.

It specifically stated that the high-level forum would bring together policymakers, regulators, vehicle manufacturers, energy providers, transport operators, financiers and industry experts to assess the progress, opportunities and challenges associated with the adoption of Electric Vehicles (EVs) and Compressed Natural Gas (CNG) vehicles in Nigeria.

Chairman of NAJA, Theodore Opara, said the summit is designed to provide practical solutions for reducing transportation costs, strengthening energy security and accelerating economic growth through clean mobility initiatives.

“Nigeria possesses one of Africa’s largest gas reserves. Expanding CNG infrastructure can provide a practical bridge towards a cleaner mobility future while supporting energy security and reducing pressure on foreign exchange used for fuel imports,” he said.

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He noted that collaboration among government agencies, vehicle manufacturers, financial institutions and transport operators would be essential if Nigeria is to achieve affordable, environmentally friendly and sustainable transportation.

Among key speakers expected at the event are the Chairman, Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi – CNG and EV); Barrister Ismael Ahmed; Director-General of the National Automotive Design and Development Council (NADDC), Joseph Osanipin, and the Corps Marshal of the Federal Road Safety Corps (FRSC), Shehu Mohammed, with other leading stakeholders from the public and private sectors.

Participants will examine critical issues including policy implementation, infrastructure development, financing models, safety standards, local vehicle assembly, investment opportunities and consumer adoption strategies needed to drive Nigeria’s clean-energy transportation agenda.

The summit comes amid growing government support for alternative fuels following the removal of fuel subsidies and the rollout of initiatives by the PCNGI which have placed EV and CNG mobility at the forefront of national economic and environmental discussions.

According to Opara, deliberations will also focus on expanding charging and refuelling infrastructure, promoting environmental sustainability and leveraging the media to accelerate public awareness of cleaner transportation technologies.

Chairman of the Summit Planning Committee, Rasheed Bisiriyu, said industry leaders would present case studies from emerging EV and CNG projects while outlining strategies for overcoming challenges such as high vehicle acquisition costs, inadequate infrastructure and limited technical expertise.

He noted that the successful development of a robust EV and CNG ecosystem could significantly lower logistics and transportation costs, improve public mobility and reduce pressure on foreign exchange spent on fuel imports.

“Government incentives alone will not guarantee success. Investment in charging stations, CNG conversion centres, maintenance facilities and technical training will determine how quickly adoption can scale nationwide,” he explained.

With rising public interest in alternative-energy vehicles and increasing policy support from the Federal Government, the 3rd NAJA Auto Summit is expected to provide a roadmap for advancing Nigeria’s clean mobility transition and making transportation more affordable for citizens.

NAJA Holds 3rd Auto Industry Summit July 30 on Nigeria’s EV, CNG Future