By Obas Esiedesa – Abuja
THE Nigerian Association of Road Transport Owners, NARTO, has called on the Federal Government to establish the Transport Development Bank, to tackle the funding challenges facing the sector.
The association, in a statement yesterday, also urged the government to put in place, a transport regulatory body that can checkmate the operations of the industry.
Executive Secretary of NARTO, Mr. Aloga Ogbogo in the statement lamented that the sector has become ‘all comers affair”, said the association’s Annual General Meeting (AGM) scheduled for this week would discuss issues affecting the sector.
He explained: “We are requesting that just as we have the Bank of Commerce and Industry, we have the Bank of Agriculture, Commerce and Industry cannot thrive without transportation.
“We are requesting that a Transport Development Bank should be packaged to assist transporters”.
On the need for a regulatory body, he said: “the road transport sub-sector that is responsible for the movement of close to 90 per cent of goods and passengers does not have a regulatory body. It is an all comers affair”.
He recalled that while the Federal Government engaged the services of NARTO to distribute COVID-19 palliatives to other sectors of the economy such as pharmaceutical and aviation, it has not deemed it fit to also extend the gesture to the transporters.
He urged the government to also give the sector some relief materials to cushion the effects of the pandemic.