Business
Reps Urge FRSC To Impound Vehicles Violating Regulation
The House of Representatives on Wednesday urged the Federal Road Safety Commission (FRSC) to ensure strict enforcement of laws on latching of articulated vehicles.
This followed the adoption of a motion entitled “Calling the FRSC to Enforce Regulation on Latching of Long Vehicles Carrying Containers on Nigerian Roads”.
Sponsor of the motion, Rep. Mojeed Alabi expressed concern that neglect by articulated vehicles and trailers’ drivers to properly latch their vehicles while carrying items had often led to accidents on the roads.
Alabi, who expressed worry that the trend had led to loss of lives and property, canvassed impounding of vehicles of defaulters.
According to him, Sections (5) and (10) of FRSC Act and the National Road Traffic Regulations provide for latching of articulated vehicles and that defaulting companies and transporters should have their vehicles impounded and prosecuted.
In spite of the provision, according to him, drivers and owners of articulated and long vehicles continue to default, thereby endangering other motorists.
Alabi added that notwithstanding attempts by some state governments to enforce regulation, “records show that these containerized trucks and petroleum tankers continue to wreak havoc on Nigerian roads.
“They account for half of the over 200 deaths by accident on Lagos roads recorded in 2016 given that Lagos houses the highest number of articulated and long vehicles in the country,” he said.
He stressed that lack of enforcement of the laws on latching of articulated vehicles had continuously affected and disrupted social and economic activities on the roads.
In his contribution, Rep. Daniel Henry said that the FRSC had turned into money-making organisation instead of prosecuting defaulters.
According to him, officials of the FRSC concentrate on demanding for things like triangle, spare tyres and vehicle licence whereas they pay less attention to vehicles that park indiscriminately along the roads, posing danger to other road users.
In his ruling, the Speaker of the House, Mr Yakubu Dogara, referred the motion to the Committee on FRSC to interface with the Directorate of Motor Vehicle Administration to address the concern and report back within four weeks.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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