Global Transport Policy summit hears that logistics delays and poor integration cost country N800bn in avoidable waste each year

Stakeholders in Nigeria’s transport sector have called for urgent adoption of multimodal transport solutions in Lagos, following revelations that the country loses an estimated $4 billion (about ₦6.1 trillion at current exchange rates) every year due to inefficiencies such as traffic congestion, poor infrastructure integration and fragmented logistics systems. The call was made on Tuesday during the 2026 Global Transport Policy (GTP) Multimodal Roundtable held in Lagos.

Speaking at the event themed ‘Transforming Nigeria’s Transport System: Integrating Solutions for Safety, Efficiency and Sustainability,’ Chairman of the Global Transport Policy, Dr Oluwasegun Musa, disclosed that persistent delays in implementing key reforms have resulted in an additional N800 billion yearly loss through avoidable logistics waste. Musa stated that logistics costs now account for over 42 percent of Nigeria’s Gross Domestic Product (GDP), a figure significantly higher than the global benchmark of less than 15 percent.

He explained that road transport currently handles more than 90 percent of all freight and passenger movement in Nigeria, while rail accounts for less than one percent—an imbalance he described as unsustainable for Africa’s largest economy. “Our present system is draining the economy and undermining national competitiveness,” Musa said at the roundtable.

The summit brought together policymakers, transport operators and industry experts to discuss strategies for integrating road, rail, air and maritime systems. Participants highlighted how overreliance on road networks has led to increased congestion, higher operating costs and frequent delays for businesses moving goods across states. Many argued that without a coordinated multimodal strategy, Nigeria risks further economic losses and missed opportunities in regional trade.

Musa urged government at all levels to prioritise implementation of transport reforms and invest heavily in infrastructure to support seamless connectivity between various modes. He warned that failure to address these challenges will continue to erode Nigeria’s economic gains. The roundtable concluded with a call for clear policy direction, public-private partnerships and stronger regulatory oversight to ensure efficient movement of people and goods nationwide.

Source: https://guardian.ng/business-services/stakeholders-seek-multimodal-option-as-nigeria-loses-4b-to-transport-inefficiencies-yearly/