Business
RTEAN Decries Poor Access Roads …Loses 400 Trucks In One Year
The Road Transport Employers Association of Nigeria (RTEAN) has decried the poor state of port access roads in the country, saying members lost over 400 trucks in Apapa and Tincan Island ports axis in the last one year alone .
He added that some of the truckers have sold off their trucks as scraps due to lack of job and poor port access roads.
Lagos State chairman of RTEAN, Alhaji Musa Muhammed, stated this at the monthly news events of the Association of Maritime Journalist of Nigeria (AMJON), tagged monthly round table held in Lagos, recently.
Muhammed who was represented at the event by the State Public Relations Officer, Comrade Abayomi Afini, said that members plying their trade in the ports are leaving the business in droves because it is becoming increasingly unprofitable due to the very poor state of ports access roads and the downturn in the Nigerian economy which has, according to him, cut imports coming into the country through the seaports by about half.
He lamented that while the poor port access roads is damaging the vehicles daily, cost of acquiring new trucks has doubled even as cost of spare-parts has gone up by over 50 percent in the last one years.
Muhammed said, in Tincan and Apapa alone, I can count about 40 owners that are no more in business. I am talking of members that have about 10 to 15 trucks each.
“Our very bad situation is made worse by the fact that instead of the cost of freight going up following the rising cost of business, cost of freight is rather falling.
In 2007, for instance, we used to charge N160,000 for a 40 feet container to Ikeja, but today we charge N60,000 for the same 40 feet container to Ikeja because even as the cost of doing the business is very high, there is no business either because of government policies that have dried up imports to Nigeria,” he said.
He lamented that members of the Association are now selling their trucks and going into Commercial Bus Transportation Business.
“Infact it is more profitable to operate Keke Napep than to own a truck today in Nigeria”, he added.
Mohammed also said that the Nigeria Port Authority (NPA) deceived its members to subscribe to the N10,000 payments for stickers it introduced last year as a measure for minimum truck standardization in the port.
He added that lack of unity among the various Truck Owners Associations in the port contributed to NPA’s success in collecting the fee for the strckers even as he blamed the government for not sticking to the two recognized associations notable in the transport sector
He said, “Last year, NPA came up with the issues of stickers that has been there for six years but because there are many associations in the ports, that is why we have the problems we have today.
“If government has been dealing with the two major Associations, that is the National Union of Road Transport Workers (NURTW) and RTEAN, there wouldn’t have been the problems we have today in the ports. These two bodies are supposed to take care of all transport problems in the country; but today, we have so many associations.
“On the issue of the stickers we had several meetings with the MD and the General Manager, Western port of NPA, they told us that immediately we are able to pay the money, extortion would stopped at the gate but that has not stop”, he said.
Earlier, the Public Relations Officer had disclosed that the association has an internal standard assurance mechanism to make sure that members’ trucks met the required standard.
He said that the Association had always ensured that its members maintain their trucks and to make sure they are in good shape and they are complying with to the directive”.
He however denied the allegation that members of the association park their trucks indiscriminately on the roads thereby causing traffic gridlock, saying the reason why trucks litter the roads is because the terminal operators have failed to produce truck bays as well as the failure of the government to provide parking lot for trucks coming into the ports.
Nkpemenyie Mcdominic – Lagos
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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