Road transportation, which remains the most effective means of conveying goods and services within Nigerian economy is set to experience a massive increase.
The Association of private transport companies of Nigeria (APTCON), held a meeting yesterday and made conclusions for transport to increase by 40%.
The road transport operators who have been struggling to remain in business amidst the current economic challenges have seen their little margins completely taken over hence the unavoidable increase, if the sector must continue functioning.
The organizer of the meeting, Henrietta Onwuegbuzie, highlighted some of the reasons behind the increase. At the centre of the impending transport problems is the challenges of oil prices.
APTCON, lamented about government’s policy in Transportation (lack of regulation of fees charged on private transporters), Cost of spare parts for vehicle maintenance, value added taxes(VAT), bank interest charges, difficulty in international transactions, and hike in petroleum products.
Many members in the union expressed their inability to pay salaries, while some had to shut down operations completely.
It will be recalled that the Association of Luxurious Bus Owners of Nigeria(LUBAN), had earlier on announced an increase in bus fares by 35% to all their routes.
Transportation is universally recognized as crucial for sustained economic growth and modernization of a nation.
Sadly with these increases, it will worsen the problems of the masses as the provision of transport infrastructure and service helps in reducing poverty.
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