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Tag: logistics

  • ‘Prioritise logistics, transportation investment’

    ‘Prioritise logistics, transportation investment’

    • By Motunrayo Akintunde

    The Federal Government has been urged to prioritize investment in Nigeria’s courier, logistics, transport, and management industry currently valued at over N15 trillion.

    Industry experts made the call at the Courier & Logistics Management Institute (CLMI’s) 2024 International Conference & Investiture event in Lagos.

    Speaking on the occasion, the Executive Chairman, Courier & Logistics Management Institute (CLMI), Prof. Simon Emeje,  said the combined worth of Nigeria’s courier, logistics, transport, and management industry is valued at no less than N15 trillion, adding that the sector is crucial to Nigeria’s economic future.

     He cited research showing the market potential could be as high as N25 trillion.

    Prof. Emeje said: “In many countries, this sector contributes approximately between seven and eight per cent to the gross domestic product (GDP). However, in Nigeria, its contribution currently stands at around four per cent revealing a substantial gap that, if addressed, could unleash transformative growth.”

    He called on the Federal Government to harness the resources within the sector, stressing that investment could unlock revenue streams contributing up to 60 per cent of the annual national budget.

    To underscore these points, industry experts at the event presented strategies such as logistical innovations and advanced transport management approaches, advocating that the sector should become a cornerstone of Nigeria’s economic agenda.

    Following the CLMI’s offer to collaborate with the government at different levels to harness this potential through public-private partnerships, regulatory reforms, and targeted investment, Benue State governor, Rev Father (Dr.) Hyacinth Iormem Alia said the state has keyed into the courier and transportation sector to better the lot of the citizens.

    Represented by the Chief Executive of FarmBasket Global Resources Limited, Chief Aber Terseer Benjamin, the governor said: “Benue Links Company holds greater economic opportunities for our dear State and our administration needed to act fast to rescue and reposition the Company that almost went comatose to its current status.

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    “We purchased one hundred buses with support from the Federal Government and handed them over to Benue Links Limited to provide affordable means of transportation for our people.

    “The procurement of these buses was to cushion the effects of the transportation challenge that was occasioned by the removal of fuel subsidy by the Federal Government. Not quite long, our administration repaired some of the Marco Polo Buses of Benue Links that laed dormant for many years for an intercity movement.

    “Passengers are being transported from one point of Makurdi town, worth almost four kilometres, to another destination just for two hundred naira only. Our people are very happy with this modest effort too.

     “Benue Links Limited has also commenced the lifting of goods from Lagos to other parts of the country using high profile Trucks that have been positioned in Lagos specifically for this task. The rates offered by Benue Links in providing this service are more-friendly as compared to other Companies offering similar service”.

    He extended partnership handshake to CLMI to liaise with the management of Benue Links Company on how best they could synergise to enhance the transportation system in the country.

    In his keynote, Chairman of the Africa Economic Summit, Dr. Sam Ohuabunwa, said logistics as an essential tool for Nigeria’s economic transformation.

    Speaking on: “Unlocking Economic Potentials and Fostering Nation-building through Logistics Instruments,” he said “logistics is the process of planning and executing efficient transportation and storage of goods. It’s fundamental to economic growth, acting as a bridge to meet consumer needs in a cost-effective and timely manner.”

    Dr. Ohuabunwa also called for strategic investment in infrastructure, energy, and broadband technology. “Robust infrastructure can reduce production costs, increase global competitiveness, and stimulate industrial growth,” he said. He stressed the need for better access to credit at single-digit interest rates to enable growth in agriculture and small businesses.

    He noted that despite Nigeria’s abundant resources, the country’s economy is hampered by insufficient infrastructure, underdeveloped industrial capacity, and over-reliance on imports. He encouraged a return to productivity-driven economic planning, proposing government investment in essential infrastructure to stabilize the economy, improve foreign reserves, and strengthen the Naira.

    CEO of Widescope International Logistics, Dr. Oluwasegun Musa, stressed the need for modernization and policy reform within Nigeria’s logistics sector.

    He noted that the country’s logistics infrastructure is still in its infancy and lacks support to drive economic advancement. Dr. Musa advocated for comprehensive policy frameworks and infrastructure investment, stating: “Nigeria should not operate in the ‘Stone Age’ of logistics. We need robust infrastructure and advanced technologies, such as drones, to compete globally.”

    According to Dr. Musa, logistics is “the motive force behind every economy,” and a strong logistics framework is essential for sustainable growth. He urged the government to prioritize the logistics sector and implement policies that would transform it into a true driver of economic development.

    All the speakers highlighted the importance of strategic investments and infrastructure development to unlock Nigeria’s full economic potential.

    Their recommendations included increasing public-private collaborations, placing industry experts in key positions, and adopting policies that support sector growth.

  • Stakeholders urge govt on logistics 

    Stakeholders urge govt on logistics 

    Stakeholders have urged the Federal Government to pay attention to logistics, infrastructure and enterprises to boost the nation’s gross domestic product (GDP) and grow the economy.

    The stakeholders who spoke at the international conference and investiture in Lagos organized by Courier and Logistics Management Institute (CLMI) discussed the interplay of logistics, infrastructure, and enterprises and how they are capable of shaping the future.

     Executive Chairman of CLMI, Prof Simon Emeje, emphasized urgency in the logistics sector and highlighted the indispensability of the logistics industry, stating that any nation neglecting it faced imminent collapse.

        He urged the government to recognize logistics as a promising sub-sector of the communication industry and highlighted its role in economic stability and job creation.

        Prof. Emeje, urging increased awareness, revealed that logistics contributes 3.5per cent to Nigeria’s GDP.

        “Logistics is not just a sector; it’s the life stream of a nation. Neglect it, and the entire system collapses,” Prof Emeje said.

        He stressed the need to bridge the knowledge gap and cultivate professional awareness, reiterating CLMI’s mission to elevate the sector’s scale.

        He further enjoined the government to earnestly focus on this sector, acknowledging its potential to unravel national problems, setting the stage for an exploration of the connections between logistics, infrastructure, and enterprise.

        Former Minister of Communications Technology, Dr. Shittu Adebayo, in his  keynote laid out the critical relationship between logistics, infrastructure, and enterprises.

        Adebayo navigated through the digital revolution, emphasizing how it connects producers and consumers, as he lauded the logistics sector for its job creation ability, painting a clear picture of its essential role in the national economy.

        “In the digital age, logistics is not just about moving goods; it’s about connecting dreams, aspirations, and opportunities,” he said.

        He called for a specialized ministry for logistics and courier services, with the urgent need for a strategic approach.

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        Adebayo pledged support to CLMI’s endeavors, stating to aid in presenting a facilitating proposal to the Federal Government.

        The panel session provided insights and recommendations from experts in the sector, pointing out key issues in infrastructure and logistics essential for national development.

        The panel commenced with a plea for the de-politicization of infrastructure development, emphasizing its foundational role in national progress.

        Founder, Red Star Express, Executive Chairman, GMC Logistics Limited, Mazi Sonny Allison; Immediate Past Registrar, Pharmacy Council of Nigeria (PCN), Dr Pharm Elijah Mohammed; Director-General, African Center for Supply Chain, Dr Madu Obiora, CEO, Institute of Classic Entrepreneurship (ICENT), Prof Nurudeen Oyekola and CEO, Work Life Training Professionals, Dr Sunday Bello, were experts that dissected the theme: “Logistics Solutions and National Infrastructure Development.”

        A non-partisan approach and a return to fundamental principles were highlighted through discussions on diverse infrastructure aspects, from transportation networks to social infrastructures. The urgent need for foundational projects, including railways and a national interstate highway system, was noted for sustained economic growth.

        “Infrastructure should be the common ground where political differences are set aside for the collective progress of the nation,” Mazi Allison explained.

        Drawing from historical examples, the discussion unveiled the transformative impact of infrastructure on economic growth. The post-World War II investment in the Interstate Highway System served as a case study, emphasizing the guiding principles for successful infrastructure initiatives. Global developments, such as China’s Belt and Road Initiative, urged Nigeria to align with these trends through a national policy devoid of political considerations.

        “History teaches us that infrastructure investment is not just about roads and bridges; it’s an investment in the economic soul of a nation,” he said.

        Shifting gears, the panel addressed health and safety in logistics, particularly focusing on drug distribution. The correlation between logistical challenges in the medicine movement and the prevailing issue of drug abuse illuminated the need for targeted interventions. The session made a plea for institutions like CLMI to engage actively with the Ministry of Health, addressing logistical hurdles and ensuring rigorous safety protocols.

        Dr Muhammed said: “Efficient drug distribution is not just a logistical challenge; it’s a critical step towards ensuring the health and well-being of our nation.”

        The panel delved into the dynamic landscape of logistics, exploring challenges related to expensive freight transport and the potential benefits of adopting intelligent transport systems, automation, and robotics. The imperative of upskilling in response to technological advancements was emphasized, with sustainability emerging as a central theme. The session encouraged ongoing discussions and proactive measures to navigate the evolving landscape of infrastructure and logistics in Nigeria.

        “In the evolving world of logistics, the ability to adapt and embrace technology is not a luxury but a necessity,” Dr Madu highlighted.

        A dedicated session unfolded on green logistics, emphasizing its interconnectedness with global environmental concerns.

        Synchro Modality, a dynamic approach challenging traditional multi-modality, emerged as essential for optimizing logistics efficiency. The discussion projected a future where the movement of goods and information converges seamlessly, urging Nigeria to actively engage with these global trends.

        “Green logistics is not just a choice; it’s a responsibility we owe to our planet and future generations,” said Dr Madu.

        An intriguing segment unfolded with the discussion on the Physical Internet, forecasting a future where the movement of goods mirrors the expansion of the internet. Examples from parts of the world where Physical Internet is already taking effect highlighted its inevitability. The imperative for organizations and professionals to prepare for this paradigm shift in logistics resonated, urging Nigeria to actively engage with these global trends.

        “As the digital and physical realms converge, the Physical Internet is not a vision; it’s an imminent reality we must be ready for.”

        The dialogue also touched on entrepreneurship, and its role in shaping the future of logistics. An expanded curriculum incorporating entrepreneurship concepts was emphasized through the session, with the necessity for individuals to develop a mindset combining innovation, risk-taking, and adaptability, drawing examples from various disciplines.

        “Entrepreneurship is not just a buzzword; it’s a mindset that fuels innovation and drives the evolution of industries,” said Prof Oyekola.

        The final segment highlighted the critical intersection of leadership, corporate governance, and national development. Prevailing attitudes were challenged, emphasizing the pillars of responsible governance—accountability, transparency, fairness, and responsibility. The role of responsible leadership in steering the nation towards sustained growth and development prompted reflection on the nation’s past, present, and future trajectory.

        “Prayers alone cannot build a nation. It requires proactive, responsible governance grounded in accountability and transparency.” – Dr Sunday Bello said.

        The CLMI International Conference Panel Session concluded as a pull of insights, stimulating a sense of urgency for proactive engagement and innovation. Participants left with heightened awareness of the challenges and opportunities shaping Nigeria’s approach to infrastructure, logistics, and entrepreneurship.

  • ‘Logistics, courier, others worth over N3tr’

    ‘Logistics, courier, others worth over N3tr’

    Logistics, courier, transport and management commands an average asset worth over N3 trillion with great potential to create millions of jobs.

    Executive Chairman, Courier and Logistics Management Institute (CLMI), Prof Simon Emeje, said this at the weekend in Lagos.

    Speaking at a media forum to announce the annual International Conference and Investiture of Courier and Logistics Management Institute (CLMI) scheduled for Nov 23, at Oriental Hotel, Lagos, he said the field of courier, logistics and transport management remained largely untapped globally.

    He said: “In the contemporary times, the business of courier, logistics and transport has become critical in national development. This prominence and the need to train and promote professionalism and certification in courier, logistics, transport and management services have made it imperative to establish CLMI.”

    He added that in the context of integration, the effects of logistics on the economy and enterprises are becoming ever more important.

    He said when the economy of a country develops it is propelled by the development of logistics. On the other hand, as logistics develops, it is the foundation for the development of other industries and infrastructure in the economy.

    He said: “Today, logistics is even more important when it is considered a base for sectors of the economy because it helps to link the flow of goods and services from the first partners to the final customers. Besides, the industry of Logistics, Courier, Transport and Management commands an average asset worth of over three N3 trillion. It has great potential to create millions of job opportunities.

     “This explains why logistics is essential to all businesses and to the economy, and it is for this reason that this year’s CLMI International Conference and Investiture is focusing on “Logistics Solutions and National Infrastructure Development.”

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    He said the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, will lead other stakeholders to the CLMI’s International Conference and Investiture 2023, adding that the minister will also chair the occasion while the Chairman, Senate Committee on Communications, Senator Aliyu Ikra Bilbis, will deliver the keynote.

     “In the event, there is a recognition and conferment of awards to distinguished personalities that have immensely contributed to the civil society and their respective professions.  It is a gathering of sharp minds and focused personalities and professionals globally from Nigeria, some European and African countries. It will attract renowned international speakers on topical emergent industry, national and international issues. It is a forum for good networking and face-lifting of businesses and individuals,” he said.

  • Logistics firm to offer real-time tracking for customers

    Logistics firm to offer real-time tracking for customers

    Logistic firm, Brij.ng, has launched into the delivery market with real-time tracking by customers. 

    Brij.ng is a one-rider, one-location firm designed to revolutionise despatch services by leveraging technology to ensure safety of customer’s packages from pick up to  delivery. 

    Co-founder, Tope Abimbola, noted the firm’s efforts to uphold its driving force, which is time consciousness, route optimisation, real-time tracking, and customer support to set logistics on par with foreign countries.

    Abimbola said: “We want to bridge the gap between our customers and their clients that is why we have real-time tracking where customers can track delivery of their packages from start to finish. Packages delivered through us are insured, so if challenges arise, losses can be mitigated. Clients can be assured of our reliability and safety of their packages. ‘’

    Read Also: Logistics delay work on Akure-Ekiti highway

    “Our insurance takes care of our customers as well as our riders, so it doesn’t matter if you’re on a motorcycle, bicycle, or a vehicle. We want to make sure that your safety is ensured. We are also adept at the industry’s guidelines and principles because compliance is key. So we have a legal team who check and let us know if there are changes in policy to avoid trouble. 

    Abimbola also stated that the company only runs delivery within Lagos and will expand as demand increases, “we want to start with Lagos, learn, and then replicate as we go on. 

    Speaking on partnerships he said, “Nobody’s trying to start anything by not making anything. So if you’re an entrepreneur with a bike or more, your vehicle gets registered. We run an 80/20 system whereby 80 percent goes to the individual while 20 percent belongs to the platform. If you are a larger partner with maybe 30 bikes or vehicles, we can negotiate more so that you can make money and pay your staff as well to maintain balance.” 

    “Riders who have chosen to join us look to go home with something. The minimum wage in Nigeria today is unfortunately no living wage but we are trying to make sure that we have enough work for as many as possible to make six figures monthly and we all have to work together to make that happen.”

  • Logistics challenge threatens Nigeria’s $120m sesame seeds revenue

    Logistics challenges is threatening sesame seed export which earns the nation over $120 million yearly, a member of the Nigerian-Vietnam Business Council, Mr. Sunny Anjorin  said at the weekend in Lagos.

    Nigeria has the potential of earning   between $500 million and $1billion from export of sesame seed.

    Its current annual production  stands at 450,000 tons and 80 per cent of the agricultural produce are exported.

    Speaking with The Nation, Anjorin said exporters are facing so many problems, including late deliveries, negative attitudes from ports officials. An issue faced by exporters, he explained, is a relatively long clearance time at the Nigeria Customs Service (NCS) which runs into several days.

    He said it currently takes about a month to export sesame seeds.

    He said the same problem is affecting cashew exporters. Nigerian exporters have raised the alarm that cashew nuts valued at $300 million have been trapped at the Lagos Ports and called on the Federal Government to come to their aid by addressing the challenges of congestion and inefficiency at Lagos’ ports, which has affected exports.

    The exporters said traffic gridlock and inefficiency at the ports of Lagos delayed shipment of 50,000 tons of cashew nuts and  threatened this year’s output as traders are cash-strapped.

    Anjorin said roads to Lagos ports are badly congested, with hundreds of Lorries queuing to enter the premises to either deliver or pick goods. In addition, inadequate capacity and infrastructure, occasioned by stifling red tape and corruption are hampering export processes.

    According to him, addressing key obstacles in its export sector would help Nigeria to tap into its significant export potential and further facilitate its economic transformation.

    The Executive Secretary of Nigeria Institute of Export Operations and Management (IEOM) Mr. Ofon Udofia said  the country has a hard time exporting, as a result which less is traded.

    The main sources of costs are not only physical constraints but severe flaws in the implementation of transit systems, which prevent the emergence of reliable logistics services.

    According to him, inefficient port processes contribute to the delays and high cost of transporting commodities to the ports

    He advised exporters having challenges with Apapa Ports to use alternative ports in River State.

  • ‘Logistics, others key to tackling economic challenges’

    World Bank consultant Prof Abel Ogunwale says competitive transport, logistics and foreign investment are essential to driving fast economic growth and Nigeria retaining leadership in Africa.

    He said the key drivers for  growth include infrastructure investments.

    He emphasised that Nigeria’s competitive economic advantage must be accompanied by quality transport hubs, efficient movement of goods and services, and a predictable regime of logistics management.

    He said as the Federal Government seeks to develop its economy further, the logistics sector must be seen to be playing a vital role in increasing inward investment, non-oil exports and the nation’s competitiveness.

    According to him, the country is located on the strategic axis and boasts accessible trade routes, adding however, that the nation still lack excellent transportation infrastructure.

    He added that Nigeria needs a global logistics hub to support trade facilitation reforms that drive the implementation of next-generation technologies as well as national human capital development efforts.

    According to him, trade facilitation is key to unlocking latent logistics potential, stressing that without it,  businesses will move elsewhere.

    He said efforts would be made to ensure that the logistics’ processes match global standards.

    He explained that businesses operating across the food sector are finding it challenging to move their products to both local and international markets.

    He added that the risks to export goods in transit are greatly increased when thousands of kilometres added to their routes.

    Nigeria he observed, is suffering from road bottlenecks, adding that improvement of road and rail infrastructure have not kept pace with cargo-volume growth.

    The ability to move cargo quickly and efficiently via land, ocean and air links, he stressed is crucial to modern supply chains that increasingly rely on speed to market.

  • 150 operatives, logistics for RCCG, MFM conventions

    The Commander/Chief Executive of Ogun State Traffic Compliance and Enforcement Corps (TRACE), Fatai Olaseni Ogunyemi, has said the corps deployed over 150 operatives, including operational logistics to the Lagos-Ibadan Expressway for Mountain of Fire and Miracles Ministries (MFM) and the Redeemed Christian Church of God (RCCG) yearly conventions.

    He said the deployment was to enable their men control traffic and for a prompt response to crashes.

    Commander Ogunyemi spoke through the Corps’ Public Relations Officer, Commander Babatunde Akinbiyi.

    He said there was no doubt the expressway would experience high traffic as a result of the conventions, adding that with their men on ground, there will be prompt response to crashes, evacuation of breaking down/obstruction vehicles and as well getting rid of reckless drivers.

    He said the operation was to prepare to meet the challenges these religious activities might pose towards effective traffic control and safety of road users.

    The Corps’ Mowe Divisional Commander Olusola Ojuoro appealed to motorists to maintain utmost discipline while driving on the highways during the convention.

    He urged motorists, who are, coming to that area during this one-week event religious activities to drive carefully, those who have no much business in the area to wait after the conventions or find another alternative route.

    He said the Command had appealed to other private truck owners to give maximum support in case of any breakdown of vehicles. He noted that the Corps’ patrol team and bikes would be patrolling the corridors to raise a signal when they sight crashes.

    He enjoined motorists plying the axis to be safety conscious, avoid driving in a direction prohibited by traffic law, give consideration to other road users and ensure compliance with traffic rules and regulations.

     

  • Transport, logistics can boost growth, says Peterside

    Transport, logistics can boost growth, says Peterside

    •UNIPORT needs help in many areas, says VC

    Nigerian Maritime Administration and Safety Agency (NIMASA) Director-General Dr. Dakuku Peterside has described transport and logistics as the greatest enabler of economic growth.

    He spoke yesterday at the Senate Chambers of the University of Port Harcourt (UNIPORT) after his inauguration as the Chairman of 12-member Board of the Centre for Logistics and Transport Studies (CELTRAS) of UNIPORT.

    CELTRAS board consists of many eminent Nigerians as members, including an Assistant Corps Marshall (ACM) of the Federal Road Safety Corps (FRSC), Dr. Kayode Olagunju.

    The Vice-Chancellor of UNIPORT, Prof. Ndowa Lale, who inaugurated the members of the board, said the university had big dreams, but needed help in many areas.

    Acting Director of CELTRAS, Dr. Gladys Emenike, added that the centre, which was established in 2012, was one of the foremost institutions of supply-chain management, logistics and transport management in Nigeria, which had been improving on the general absence of proper planning, coordination and efficient management of logistics and transport activities in both public and private sectors.

    He the centre prepares and trains personnel.

    Emenike revealed that admission into the centre started in 2012/2013 session, with an initial intake of 17 post-graduate students, stressing that in the 2016/2017 session, CELTRAS had 38 students in M.Sc. programme, 12 Post-Graduate Diploma (PGD) students and 13 doctoral students

    He said the centre is in the process of transiting into an institute, with transport specialised areas of maritime, air, road, rail, pipeline and logistics.

    Peterside said: “It is both an honour and responsibility to serve on the board (of CELTRAS), especially an invitation from the university (UNIPORT) community that we should be part of the roles the university discharges to society: filling the knowledge gap; expanding the horizon of opportunities, by giving people skills and knowledge to be valuable and better members of the society, as well as giving people a sense of social responsibility and civic commitment.

    “If there is one enabler for economic development, it is transport and logistics. Have you ever imagined that we produce goods in one part of the world and are consumed in other parts? Demand and supply exist in two different locations.

    ‘China today is credited with having excess productive capacity, but the goods produced in China are consumed elsewhere. The link between where the goods are produced and where they are consumed/where the demand is effective is transport and logistics.”

    The NIMASA chief, who was the governorship candidate of the All Progressives Congress (APC) in Rivers State during the 2015 election, pledged that members of the board would not fail UNIPORT’s authorities.

  • ‘How logistics firms can boost agric’

    ‘How logistics firms can boost agric’

    There are vast business opportunities for players in the logistics industry in the agricultural sector, the Technical Adviser to the Minister of Agriculture and Rural Development, Mrs. Cynthia Umoru, has said.

    She stated this at the Strategic Management Retreat of Red Star Express Plc in Ogun State.

    The retreat entitled: “Living the big dream,” was attended by top management staff of the company.

    In her presentation titled: Agriculture as a catalyst for economic recovery, she noted that the ministry was aware of the important role of the logistics industry in the agricultural sector, adding that it has opened up the landscape for major players to participate in.

    “Our role’in this government is to push for what the government should be, to create an enabling environment for the private sector to play a major role, to create access to land, maintain fertility of the soil and make sure farm produce are easily accessible,” she said, noting that  this could only be done by encouraging major logistic players to be involved.

    She identified investment in food  chain logistics as a vital component in making agriculture and the food supply more sustainable.

    She said the sector needs logistics operators to support the government’s target of increasing food production and improving farmers’ income. This, according to her, would  help break geographical boundaries and would allow farmers to  access markets.

    Earlier, Group Managing Director of Red Star Express Plc, Sola Obabori, said if both the government and the private sector could give half of the attention they give to the oil sector to agriculture and other sectors, there would be significant improvements in the economy and stability of the fluctuating of the naira can be achieved.

    He continued: “Just like we treat our oil with seriousness, we need to treat the agricultural sector that same way. The opportunity and potential are really huge. We should be able to over produce our agricultural produce and still have ready market for them even outside the shores of this country. And we have to be on hand to facilitate the export in such a way that perishable goods can be in Europe within 14 hours after harvest, while the non-perishables can get there within three to four days,” he said.

    He said Red Star Express Group is a premium logistics solution provider in the country with unrivalled local network coverage and a large market share in the domestic and international market.

  • Nigeria logistics industry braces for change

    The recovery of the  economy is on track in most key sectors, an annual benchmark report released by National Logistics Strategy Conference held in Lagos has revealed. The report said Nigeria’s logistics sector was poised for accelerated growth this year.

    According to the report, the magnitude and breadth of recovery across sectors is “surprisingly strong”, led by ramp up in transport infrastructure, and other initiatives.

    Estimating that the nation’s logistics industry is worth well over N200billion, the report noted that the industry offers opportunities across the spectrum for companies to invest in transportation, storage, distribution, and allied services.

    Empirical evidence suggests the logistics industry grows at annual growth rate of 10 per cent.

    Driven by strong fundamentals and consistent demand, the report noted that the logistics sector is seemingly well-positioned to sail through turbulent waters.

    The report   said rising investment, rapidly evolving regulatory policies, mega infrastructure projects and several other developments in recent times have driven the logistics market, simultaneously gradually overcoming infrastructure-related constraints and logistics-centric inefficiency.

    The report said there is significant potential to make further investments in the  logistics space as the sector continues to evolve and develop, adding that port development benefited from increased private sector engagement in post-concession which has in turn brought more efficiency and investment.

    For instance, the sector was boosted with AP Muller investment over $100million in Apapa port concession and targeting one million containers capacity per year. Equally a large pipeline of deep sea ports – Lekki, Ibaka, Bayelsa, all geared to make Nigeria the regional maritime hub.

    There is projection of revenue from Lekki Deep sea port ($20billion) and expected growth of three per cent on annual transport infrastructure but then there is Ibaka and Bayelsa deep sea port, Enugu–Abakiliki– Cameroon Highway; new international airport in Enugu and new rail network from Lagos to the north.

    However, the report noted that infrastructural bottlenecks have stifled sector’s growth and promoted inefficiency.