ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly
No Result
View All Result
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home News

Road Transport Association

Business 360 by Business 360
February 5, 2021
in News
0
Road Transport Association

The Nigerian Association of Road Transport Owners (NARTO) has called on the federal government to establish the Transport Development Bank (TDB) to ensure sustained growth of the sector.

To reduce the chaos in the industry, the association further advised the government to put in place a transport regulatory body that could checkmate the operations of the industry, which he said is now an all-comers’ affair.

In a statement in Abuja, Executive Secretary of NARTO, Mr. Aloga Ogbogo, explained that the proposed bank would be modelled after existing ones like the Bank of Agriculture (BoA).

The organization lamented that there was no regulator for the transport sector, despite its being one of the biggest in the country.

 “We are requesting that just as we have the Nigerian Bank of Commerce and Industry (NBCI) we have the Bank of Agriculture, we need a bank. This is because commerce and industry cannot thrive without transportation.

“We are requesting that a Transport Development Bank should be packaged to assist transporters. “The road transport subsector 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,” NARTO lamente

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.

blish the Transport Development Bank (TDB) to ensure sustained growth of the sector.

To reduce the chaos in the industry, the association further advised the government to put in place a transport regulatory body that could checkmate the operations of the industry, which he said is now an all-comers’ affair.

In a statement in Abuja, Executive Secretary of NARTO, Mr. Aloga Ogbogo, explained that the proposed bank would be modelled after existing ones like the Bank of Agriculture (BoA).

The organization lamented that there was no regulator for the transport sector, despite its being one of the biggest in the country.

 “We are requesting that just as we have the Nigerian Bank of Commerce and Industry (NBCI) we have the Bank of Agriculture, we need a bank. This is because commerce and industry cannot thrive without transportation.

“We are requesting that a Transport Development Bank should be packaged to assist transporters. “The road transport subsector 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,” NARTO lamente

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.

NARTO has made significant contribution to the National economy. Apart from accounting for a large percentage of revenue to government vide taxes, rates and levies of kinds, NARTO is the biggest employer of labour next to the Federal Government. For every sided truck, for example, about twenty people derive their livelihoods excluding their dependent’s.

Previous Post

Lagos State Govt. plans to phase out yellow buses

Next Post

Global economy: U.S. factory actgivity approaches 2-1/2- year high: COVID-19 hitting supply chains

Business 360

Business 360

Next Post
Global economy: U.S. factory actgivity approaches 2-1/2- year high: COVID-19 hitting supply chains

Global economy: U.S. factory actgivity approaches 2-1/2- year high: COVID-19 hitting supply chains

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
NCAC inaugurates Creative Industry Sub-Committees

NCAC inaugurates Creative Industry Sub-Committees

September 20, 2020
#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

October 21, 2020
COVID-19: Churches comply with strict measures as worship centres reopen in Lagos

COVID-19: Churches comply with strict measures as worship centres reopen in Lagos

August 10, 2020
COVID-19: Maize Farmers cut down production by 30%

COVID-19: Maize Farmers cut down production by 30%

July 15, 2020
‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25
Goldlink’s restructures board

Goldlink’s restructures board

10
Airtel Africa Plc gets admitted to the NSE Main Board

Airtel Africa Plc gets admitted to the NSE Main Board

6
Stallion Tank Farm resumes operations

Stallion Tank Farm resumes operations

3
Ethiopian Airlines appoints new Cargo Manager for Nigeria as its Cargo Strategy sees growth amidst Pandemic

Ethiopian to start passenger service to Copenhagen, Denmark

January 24, 2023
FG borrowed N1.3tn in four years to subsidise power consumers, firms – World Bank

Economic crisis: FG records N14.28tn revenue shortfall, plans to cut borrowing

January 19, 2023
How I started my Tomato Puree manufacturing company.- Adaora Akojuru

How I started my Tomato Puree manufacturing company.- Adaora Akojuru

January 19, 2023
Asia Stocks Mixed as Commodites Drop; Yields Dip

Oil prices extend gains on optimism over China’s recovery as Asia Stocks Slide, Yen Drops on BOJ

January 18, 2023
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • AI
  • Art
  • Arts
  • Aviation
  • Blockchain
  • Business 360 Weekly
  • Business Travels
  • Capital Market
  • Corporate
  • Destination Business
  • Economy
  • Education
  • Electric Vehicles
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • Fashion
  • Fashion
  • Finance
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • News
  • NGOs
  • Political Economy
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tech
  • Tourism
  • Transportation
  • Uncategorized
  • World

Recent News

Ethiopian Airlines appoints new Cargo Manager for Nigeria as its Cargo Strategy sees growth amidst Pandemic

Ethiopian to start passenger service to Copenhagen, Denmark

January 24, 2023
FG borrowed N1.3tn in four years to subsidise power consumers, firms – World Bank

Economic crisis: FG records N14.28tn revenue shortfall, plans to cut borrowing

January 19, 2023
  • Africa
  • World
  • Our Shows

© 2022 Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • News
  • Markets
    • Stocks
  • Finance
  • Economy
    • Political Economy
    • Energy
    • Maritime
    • Agribusiness
    • Insurance
    • Real Estate
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
  • Sports
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Business Travels
    • Aviation
    • Tourism
    • Hospitality
  • Lifestyle
    • Art
    • Entertainment
    • Fashion
    • Luxury
  • NGOs
  • Business 360 Weekly

© 2022 Business 360 News - Business, Finance And SMEs News | Design by Manifest!