NARTO urges govt to establish transport development bank

Nigerian Association of Road Transport Owners has urged the Federal Government to establish a transport development bank.

Executive Secretary of NARTO, Mr. Aloga Ogbogo, in a chat with Financial Street in Lagos on Tuesday, also called on the government to put in place a transport regulatory body to monitor the industry.

The association, however, expressed support for the concession of roads in various parts of the country.

Ogbogo explained that the best global practice for road maintenance was through concession.

His words, “We are requesting that a transport development bank be packaged to assist transporters. Just as we have the Bank of Industry and Bank of Agriculture, it should be noted that commerce and industry cannot thrive without transportation.”

On the need for a regulatory body, he said, “The road transport sub-sector that is responsible for the movement of close to 90 per cent of goods and passengers in Nigeria does not have a regulatory body. It is an all-comers’ affair.”

On January 29, 2021, it was reported that the Federal Government would receive the Outline Business Case Certificate of Compliance for 12 pilot federal highways billed for concession.

The report stated that the concession might also signify the return of toll gates, as concessionaires would have to recoup their investments.

It further stated that the 12 highways represented about 1,963km and less than 5.6 per cent of Nigeria’s 35,000km federal highway network.

Ogbogo urged the government to concession some roads, to attract the required investments on them.

“There should be some level of concession, so that the private sector can invest on the roads for better maintenance,” he said.

The association noted that while the Federal Government engaged the services of NARTO to distribute Coronavirus Disease palliatives to other sectors of the economy, nothing of such was extended to transporters.

It, therefore, urged the government to give the sector some relief materials to cushion the effect of COVID-19.

The association used the medium to announce that its Annual General Meeting would hold this month.

Anozie Egole
Anozie Egole
Anozie Egole is a Transport correspondent. He reports Maritime, Aviation and Rail/Road Transport for Financial Street.

Get in Touch


Please enter your comment!
Please enter your name here

Related Articles