Experts in the transportation and logistics sector have projected the estimated potential value of the market, saying it exceeds N15 trillion.

They spoke during the Transport & Logistics Summit (NTLS) 2026, hosted by Sterling Bank that the logistics sub-sector alone contributes approximately N1 trillion to national GDP.

Speaking on the theme “Funding the Engine of Growth,” the bank’s Managing Director and CEO, Abubakar Suleiman, represented by Sterling One Foundation CEO, Mrs. 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 effective 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,” he said.

The bank’s Divisional Head, Renewable Energy, Mobility and Tourism at Sterling Bank, Darlington Nwankwo described logistics as the backbone of trade, industry, and national competitiveness.

“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,” he said.

The state’s commissioner for Transportation, Oluwaseun Osiyemi called for bold ideas, strategic investments, and forward-looking policies, describing the summit as a vital platform to shape the future of movement, trade, and connectivity in Nigeria.

He urged policymakers to move swiftly from planning to implementation, called on investors to support infrastructure and innovation, and encouraged industry leaders to champion efficiency, sustainability, and accountability.

In his keynote address, Professor Biodun Adedipe noted that with nearly 90 percent of Nigeria’s logistics dependent on road transport, the country faces mounting congestion and maintenance costs that demand diversification into rail and more durable infrastructure.

He cautioned that economic transformation requires patience, with meaningful results unlikely to materialise in under 18 months.