News Highlights:
- Sterling Bank positions itself as a catalyst for reform, committing to connecting capital to infrastructure and logistics value chains.
- Despite contributing about ₦1 trillion to GDP and an estimated market potential of ₦15 trillion, Nigeria’s transport and logistics ecosystem remains constrained by infrastructure gaps.
Sterling Bank has positioned itself at the forefront of efforts to transform Nigeria’s transport and logistics sector, using the platform of the Nigeria Transport & Logistics Summit (NTLS) 2026 to push for an execution-led approach to infrastructure development and financing.
At the inaugural summit held at Eko Hotel & Suites, the bank convened industry leaders, policymakers, financiers, and innovators to drive actionable strategies aimed at building a faster, more connected Nigeria through transport, mobility, and logistics.
Held under the theme “Funding the Engine of Growth,” the summit framed the sector as a critical yet under-leveraged driver of productivity, regional integration, and economic expansion.
Transport, mobility, and logistics collectively form the backbone of Nigeria’s economy. While the logistics sub-sector alone contributes approximately ₦1 trillion to national GDP, experts estimate that the broader market exceeds ₦15 trillion in potential value.
Yet persistent infrastructure gaps, inefficiencies, financing constraints, and policy fragmentation continue to limit its full impact.
NTLS 2026 brought together senior government officials, regulators, infrastructure operators, investors, development partners, and private-sector leaders to address priorities, including multimodal connectivity, airport and road modernization, energy-efficient mobility, digital trade facilitation, and innovative financing frameworks.
Speaking at the summit, Managing Director and CEO of Sterling Bank, Abubakar Suleiman, represented by Olapeju Ibekwe, called for urgent, coordinated action to fix the systems that move Nigeria’s economy forward.
He emphasized that while Nigeria’s transport and logistics challenges, ranging from port congestion to inefficient corridors and high operating costs, are well documented, the real opportunity lies in execution.
“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.”
“Nigeria’s competitiveness, both regionally and globally, will increasingly depend on how effectively we move goods, people, and services. The time for incremental change has passed; what is required now is bold, coordinated execution across public and private sectors,” Abubakar concluded.
Also speaking at the event, Divisional Head, Renewable Energy, Mobility and Tourism at Sterling Bank, Darlington Nwankwo, described logistics as the backbone of trade, industry, and national competitiveness.
He noted that while the sector contributes just under four percent to Nigeria’s GDP, estimated at approximately ₦15 trillion, its true economic impact is significantly larger when viewed as an enabler of productivity across agriculture, manufacturing, and trade.
“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.”
Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, echoed the call for bold ideas and accelerated implementation, describing the summit as a critical platform for shaping the future of movement, trade, and connectivity in Nigeria.
He urged policymakers to move swiftly from planning to execution, called on investors to support infrastructure and innovation, and encouraged industry leaders to prioritise efficiency, sustainability, and accountability.
In his keynote, Biodun Adedipe grounded the ambitions in structural realities, noting that with nearly 90 percent of Nigeria’s logistics dependent on road transport, the country faces mounting congestion and maintenance costs, underscoring the need for diversification into rail and more durable infrastructure.
He also cautioned that economic transformation requires patience, with meaningful results unlikely to materialise in under 18 months.
Panel discussions throughout the day focused on reducing logistics costs, strengthening aviation and road integration, modernizing 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, Sterling Bank’s leadership at NTLS 2026 underscores its commitment to driving a more integrated, efficient, and globally competitive transport and logistics ecosystem.
