Transporters have lamented losses suffered due to the recent #EndSARS protest and the subsequent violence that trailed it in Ogun State and other parts of the country.
The Secretary of the Road Transport Employers Association of Nigeria (RTEAN) called on government to urgently address the unemployment rate as a way of tackling violence arising from youths’ protests.
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The RTEAN Secretary in Ogun State, Tiwalade Akingbade, made the call in Abeokuta, at a peace consolidation meeting with youths, community leaders, members of Civil Society Organisations (CSOs) and other stakeholders to address the violence during the protest in the state.
He called on the federal government to establish Bank of Transportation to tackle challenges and cater to the needs of players in the sector.
He noted that a number of transporters rely on loans from commercial banks to purchase vehicles, but high-interest rates have led many into bankruptcy while others are out of business.
Akingbade said prices of vehicles and spare parts have gone up due to the exchange rate; yet, the poor state of the roads in the country shortens the lifespan of vehicles.
“Just like the Bank of Agriculture, we need Bank of Transportation. No matter what farmers produce, they can only rely on transporters to transport their goods from rural areas to the market.
“We are battling a myriad of challenges which have made the establishment of the Bank of Transportation inevitable. From the high cost of vehicles to increased prices of spare parts, and most importantly, huge interest rates on loans from commercial banks.
“If the Bank of Transportation is established, we can have access to less than two-digit loans.
“Whenever an incident like that of last week happens, we (transporters) are always at the receiving end. We are transporters and our vehicles are always on the road. Whenever this thing happens, we always suffer for it,” he said.
Akingbade also challenged the government to tackle insecurity headlong by embracing community policing and improving the welfare of police officers.
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