Logistics Sector Can Boost Nigeria’s GDP By 60% – Expert

Folashade Adeniran
Oct, Sat, 2024

General News

Logistics sector can boost Nigeria’s GDP by 60% – Expert

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By Funmilola Gboteku
The Executive Chairman, Courier and Logistics Management Institute (CLMI), Prof. Simon Emeje, says courier and logistics sub-sector can boost Nigeria’s Gross Domestic Product (GDP) by 60 per cent, if fully tapped.

Emeje said this at a news conference organised by the professional body to announce its upcoming international conference and investiture, on Friday in Lagos.

The CLMI boss said that tapping into the industry with assets worth over N15 trillion required regulatory excellence and innovation.

Emeje, who expressed dissatisfaction that the full potential of the sector had yet to be tapped, urged the government to entrench regulations that would drive innovation, investments and growth.

According to him, an industry with such huge assets should have Federal Government’s recognition.

“The country is looking for measures to increase revenue and stabilise the economy.

“It is imperative that policymakers at both federal and state levels recognise the vital role logistics and courier services play in driving economic growth.

“‘By prioritising logistics and courier services, policymakers can unlock Nigeria’s economic potential, drive sustainable growth, and improve the business environment.

“The logistics sector in every economy employs millions of people than the oil and gas, including truck drivers, warehouse workers, supply chain managers and freight forwarders, amongst others,” he said.

Speaking on the role of the CLMI, Emeje said the institute was dedicated to supporting Nigeria’s economic growth by bridging the gap between industry needs and government policies.

He said the institute had been recognised globally for its expertise, with international partners seeking counsel.

Emeje, however, said the courier and logistics industry in Nigeria took precedence.

He noted that courier services played an important role in driving efficiency and meeting customers demands.

He added that out of the N15 trillion worth of assets in the industry, 20 per cent of the combined market of courier, logistics, transport and management, was currently being utilised across Nigeria.

“The professionals in these combined areas of courier business are very few in number.

“We have less than 10 per cent of experts that can actually embark on capacity building and proper training that will set the economy in a good shape.

“There is no sector of Nigerian economy or the global economy that is not tied to these four areas.

“The government is looking for money to develop infrastructure, but the money is in our hands. Unfortunately we don’t know how to tap into it,” CLMI boss said.

Speaking on the CLMI International Conference and Investiture, he said that it was being convened as a platform for regulators and players to discuss issues affecting the industry.

Emeje added that as a significant component of the economy, logistics affects the rate of inflation, interest, productivity, energy costs, availability, and other aspects of the economy.

He noted that speakers at the upcoming event included Vice President Kashim Shettima, as Special Guest of Honour; Gov. Hyacinth Alia of Benue state; Prof. Anya O. Anya, former Chief Executive Officer, Nigeria Economic Summit Group; and Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani among others.

The conference and investiture slated for Nov. 14, will take place in Lagos.

The News Agency of Nigeria (NAN) reports that CLMI is the first academic and professional institute with combination of courier, logistics transportation and management as one package.

It trains qualified couriers, logistics, transport entrepreneurs, and management practitioners that are responsive to customer and socio-economic developmental needs. (NAN)

Edited by Chidinma Agu/Chinyere Joel-Nwokeoma

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