Lagos Moves to Offer Trucking Industry Cheap Loans
The Lagos State Government says it has initiated a programme that will support truck owners to acquire brand-new vehicles through affordable and well-structured credit facilities.
The Lagos State Governor, Babajide Sanwo-Olu, said this at the states’ Ministry of Transportation stakeholders’ engagement with maritime and logistics practitioners.
The stakeholders’ engagement has the theme “Charting the Future of Maritime Logistics: Safety, Sustainability, and Stakeholder Partnership”.
Sanwo-Olu was represented at the event by the Special Adviser on Transportation, Mr Sola Giwa.
He said the state government was working with financial institutions and development partners to design loan products with flexible repayment structures for truck fleet renewal.
He added that the initiative would enable truckers to access 2,000 Compressed Natural Gas (CNG) – powered trucks through the United Bank for Africa.
“ This initiative will enable operators at all levels to modernise their fleets, reduce breakdowns on the highways, improve turnaround time, and operate in compliance with international haulage standards.
“This intervention is not just economic. It is a life-saving investment. It will reduce road accidents, prevent cargo losses, mitigate gridlock caused by broken-down trucks, and elevate the image of Lagos as a city that values order and safety.
“ I urge all stakeholders to embrace this opportunity and collaborate actively with the relevant ministries and agencies that will drive the implementation,” he said.
He noted that the government was aware of challenges being faced by the sector.
He listed the challenges as issues of road safety, ageing truck fleets, avoidable breakdowns, health-related risks among operators, unregulated activities around port corridors, and the need for stronger compliance with international standards.
He added that these challenges cannot be ignored, and must not be left unresolved, thus the move for the initiative.
“A modern maritime logistics system thrives on standards, in vehicle condition, driver fitness, loading protocols, environmental responsibility, and in road discipline,” Sanwo-Olu said.
He said the state would continue to strengthen its enforcement framework to ensure that truck operators comply with the minimum safety requirements.
“We will expand inspection capacity across strategic checkpoints and ensure that trucks operating along Apapa, Tincan, Lekki, and all adjoining corridors undergo rigorous compliance checks.
“These checks will focus on essential safety components, including brakes, tyres, reflectors, lights, axle condition, and overall mechanical stability.
“The intention is not to punish but to protect. No responsible government can look away when preventable accidents destroy lives and damage livelihoods.
“Our objective is to build a culture of safety that becomes the pride of the industry itself,” he said.
On the health and wellbeing of truckers, he said the state government would launch a free-eye screening and visual health programme for truckers.
He said the initiative would provide comprehensive eye examinations, early detection of vision impairments, and immediate dispensing of prescribed eyeglasses and drugs where required.
“Every trucker deserves access to clear vision, as clear vision reduces accidents, improves alertness, and enhances overall road safety,” he said.
He described the reforms as a roadmap towards a logistics industry that would support growth, protect lives, and strengthen Lagos as the commercial capital of West Africa.
Also speaking, the Commissioner for Transportation, Mr Oluwaseun Osiyemi, said the facilitation of access to 2,000 CNG-powered trucks through strategic partnership with UBA was a bold step towards a greener future.
According to Osiyemi, it underscores the state’s dedication to sustainability, environmental responsibility, and modernising freight movement across Lagos.
“Our intentional investment in free eye screening for truck operators, substance abuse sensitisation, and drug testing initiatives reflects the government’s firm stance on protecting lives, improving truck operator welfare, and reducing avoidable road accidents,” he said.
The Special Adviser to the Governor on Transportation, Giwa said the event was not only to identify challenges, but to decide on forward-looking solutions focused on safety, sustainability, partnership and collaboration.
Giwa represented by the Permanent Secretary of the ministry, Mr Olawale Musa, said the programme centred on the safety of the truckers.
“Our logistics industry relies on the dedication of its workforce, particularly truck drivers, their long hours, stressful conditions, and limited access to healthcare pose humanitarian risks.
“Our goal is to work closely with unions, associations, and relevant agencies to protect our truckers and strengthen their capacity, ensuring they remain alert, and able to perform their vital role in the economy.
“ I encourage all our stakeholders to approach today’s conversation with openness and commitment.
“ The future we seek is a safer, smarter, and more sustainable ecosystem that requires discipline, innovation, and partnership,” he said. The the event witnessed the inspection of the CNG trucks present.
Organisations present at the programme include representatives of the National Drug Law Enforcement Agency, UBA, the National Association of Road Transport Operators, the Nigerian Railway Corporation, truckers’ associations and others. FCMB Group Forecasts N62.55 billion Profit for Q1-2026
