With transport contributing 6.53 percent to Nigeria’s GDP in 2024, industry experts at the 2025 Transport Summit in Lagos have called for innovative funding frameworks and private-sector partnerships to sustain growth and strengthen the nation’s transport infrastructure.
Citing recent data from the National Bureau of Statistics (NBS), experts revealed that Nigeria’s maritime trade surged to ₦130.75 trillion in 2024, representing a 91 percent increase over 2023 figures, while the aviation sector added ₦215.6 billion to the GDP in 2023. In the rail sector, passenger traffic rose to 930,000 in the first quarter of 2025, up from 675,000 in the same period last year, underscoring growing activity and investment potential.
These figures, according to participants, demonstrate the transport sector’s strong economic footprint but also highlight the urgent need for financial reform, innovative investment models, and effective fiscal policies to sustain the momentum.
Speaking at the event, Mrs. Pearl Ngwama, the summit organiser and Chief Executive Officer of JustAlive Communications Limited, stressed that transport remains the “lifeline of the economy,” adding that Nigeria must channel more capital into infrastructure renewal, connectivity, and technology integration.
“Transport is the bloodstream of the economy. When it flows freely, the organs of the economy thrive; when it is blocked or weak, growth is stunted,” she said. “The statistics show potential, but without consistent funding, efficiency, and innovation, that potential cannot translate into prosperity.”
Ngwama called for the adoption of Public-Private Partnerships (PPPs), infrastructure bonds, and development finance mechanisms as critical tools for bridging Nigeria’s infrastructure deficit, which continues to strain logistics, trade, and industrial productivity.
She linked the drive for improved funding to President Bola Ahmed Tinubu’s Renewed Hope Agenda, noting that its focus on infrastructure modernisation provides a window for unlocking private capital and international funding for the transport sector.
“We must finance a Nigeria where rail lines connect farms to factories, where our airports serve as continental hubs, and our ports anchor West and Central African trade,” Ngwama stated.
The organiser further warned that overreliance on government budgets and external loans without reforming local funding structures limits long-term progress. She called for deliberate policies that encourage domestic capital mobilisation, fiscal discipline, and technology-driven financing models.
Addressing the social implications, Ngwama linked the “Japa syndrome” — the mass migration of skilled professionals to declining local opportunities, urging investment in critical sectors like transport to retain talent and stimulate national productivity.
She concluded by charging stakeholders to produce a workable communiqué and strategic financial roadmap to guide future transport investments.
“If we get our financing right, every kilometre of road, rail, air route, and sea corridor we build will multiply our GDP, create jobs, and transform our economy,” she affirmed.
The summit, themed “Nigeria’s Transport Infrastructure: Innovation for a Sustainable Future,” continues with expert sessions on infrastructure finance, public-private partnerships, policy reforms, and green mobility, aimed at positioning Nigeria’s transport network as a foundation for inclusive and sustainable economic growth.
