Nigeria needs to invest approximately $3 billion yearly in road, rail and waterway transport infrastructure to meet growing national demand and drive economic development.

This was stated at the Global Transport Policy (GTP) Intermodal Transport System Yearly Roundtable held yesterday in Lagos.

Nigeria has long struggled with inadequate road networks and underdeveloped rail and waterway infrastructure, a situation that has cost the country huge economic losses.

The Chairman and Chief Consultant of GTP and Chief Executive Officer of Widescope International Logistics Limited, Dr Oluwasegun Musa, emphasised the critical importance of investing in integrated and multimodal transport systems to enhance Nigeria’s global competitiveness.

According to Musa, connecting various modes of transportation, such as road, rail and waterways, into a seamless network would significantly reduce logistics costs and improve overall economic efficiency.

He referenced World Bank findings, which indicate that integrated transport systems can reduce transportation costs by up to 30 per cent.

Musa, who also serves as the Deputy President of the National Association of Government Approved Freight Forwarders (NAGAFF), stressed the need for public-private partnerships (PPPs) as a strategic approach to building a sustainable and inclusive transport network aligned with national development goals.

Musa also highlighted that investing in sustainable infrastructure is vital not only for job creation but also for stimulating economic growth and improving the quality of life for Nigerians.

He noted that attracting substantial investment would increase sector efficiency, reduce operational costs, boost productivity and elevate Nigeria’s position in the global economy.

Musa called on the Federal Government to show strong political will in tackling the long-standing challenges in the transport sector.

Delivering the keynote address, former Acting Vice Chancellor of Covenant University, Professor Aremu Jonathan, criticised Nigeria’s current transport policies, describing them as lacking a holistic and integrated vision.

He observed that developed nations are increasingly adopting multimodal transport systems operated under unified contracts, which offer greater efficiency and flexibility than traditional intermodal systems.

Jonathan added that Nigeria could significantly benefit from the African Continental Free Trade Agreement (AfCFTA) by embracing multimodal transport strategies that facilitate smoother trade and mobility across the continent.

Similarly, former Lagos State Commissioner for Transportation and Principal Consultant at Fredrick Oladeinde Consultancy Services Limited, Dr. Fredrick Oladeinde, emphasised that the future of transportation depends on vision and strategic planning, not technology alone.

He advocated for smart planning and continuous investment as the bedrock of a sustainable and efficient transport system.

Noting that 26 Nigerian states already have access to water-based transport alternatives, Oladeinde called for the integration of the informal sector into the multimodal transport framework to reduce costs and accommodate Nigeria’s rapidly expanding urban population.

Other industry experts at the roundtable echoed the need for bold investments, integrated solutions and collaborative governance to unlock Nigeria’s economic potential and enhance the quality of life for its citizens.