Stakeholders in the Nigerian road transport sector have called for the establishment of a Bank of Transportation to drive investment and development of the transportation sector.

Commercial drivers and transport sector operators made the call during the week-long Drivers’ Care Initiative across motor parks in the Federal Capital Territory, Abuja, organized by Transporters for Tinubu 2027.

The call was echoed by representatives of the three major unions in the transport sector – Road Transport Employers Association of Nigeria, RTEAN, the National Association of Road Transport Owners, NARTO, and National Union of Road Transport Workers, NURTW.

They noted that a Bank of Transportation will play a similar role as the Bank of Agriculture and Bank of Industry.

Speaking at the outreach held at Nyanya Motor Park in the FCT, Programme Director of the Drivers’ Care Initiative, Mrs Chinwe Uwaegbute said demands made by the drivers during the week-long event have been noted and would be passed on to the government for necessary action.

Noting that land transportation is the backbone of the economy, Uwaegbute described the call for a Bank of Transportation as a key demand.

“We have visited five parks since last week and have been listening to complaints. Among the concerns raised by union members, the top priority is the need for a sector-based Bank of Transportation, similar to what exists in Agriculture and Industry.

“This has been identified as a key demand,” she said, explaining that transporters need a place where they can access loans to grow their businesses.

Emphasizing the importance of road transportation, Uwaegbute pointed out that before anyone flies, they must drive to the airport, and before boarding a ship, they travel by road.

According to her, governments everywhere recognize the importance of road transport unions.

Uwaegbute said the initiative is about bringing transport operators together to voice their concerns.

Activities at the outreach at Nyanya motorpark include free eye tests and care, drug abuse awareness, and information on loans through the Transporters Cooperative Society.

Engineer Musa Saidu, FCT Chairman of the Road Transport Employers Association of Nigeria, RTEAN, commended the initiative and urged drivers to take advantage of the free eye screening.

“Eye is life. Without eyes, most of us are finished. All three unions, NURTW, RTEAN and NARTO stand behind this programme,” he said.

Dr. Femi Yeye of the Transporters Cooperative Society explained that drivers can join the cooperative to access loans for vehicle purchases, repairs, and emergencies with no collateral required.