Business
More Wagons, Locomotives ’ll Boost Cargo Movement
The Nigerian Ports Authority (NPA) has said the provision of more wagons and locomotives would boost the movement of cargo through the rail system.
The Apapa Port Manager, Mr Nasir Mohammed, stated this in an interview with newsmen in Lagos.
He said that the Nigerian Railway Corporation (NRC) had a major task of providing more wagons and locomotives to improve evacuation of cargo from the ports.
“The issue of intermodal has been of concern to NPA management as a whole but particularly Lagos Port Complex, because we already have an existing rail track which the Nigerian Ports Authority rehabilitated and started operating through the Nigerian Railways.
“Sincerely, it has not been quite encouraging because the inland container depot or the terminal that is responsible for moving these containers have continued to draw our attention.
“That they have a lot of cargo that they want to take to the hinterlands; as far as Kaduna and Kano but they have always been challenged about the availability of wagons and locomotives.
“Of course, that’s an area for the Nigerian Railway and we want to believe that the railway is looking into how they can improve their services from the ports including, by providing more wagons or locomotives so that a lot more containers can be moved out.’’
Mohammed said the rehabilitated rail tracks in the port would improve the movement of cargo to the hinterlands “if there are enough wagons and locomotives to work with”.
He said that key stakeholders using the port had expressed their willingness to diversify the movement of cargo and not to continue to rely on the already over-stretched roads.
“We have earlier contacted some terminal operators who equally expressed interest that if the railway can be available and effective, they want to believe many of the importers will not mind moving the bulk cargo through the rails.
“We have also gone a little further and we want to put it in the front burner to discuss with some of these terminals to look at the possibility of moving some cargoes, especially containers, through the waterways.
“We have already agreed that the volumes far outweigh the physical facilities leading into and out of the port.
“The roads cannot continue to cope, no matter how good they are. The capacity of the road has been over stretched.
“So, we must continue to encourage our partners to explore these other options.’’
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The port manager said the authority would readily support intermodal initiatives; rail, waterways and road, for effective cargo movement from the ports.
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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