Nigeria’s inefficient logistics system is costing the country an estimated N5 trillion annually, causing nearly 40 million metric tonnes of food to perish before reaching consumers.
This was revealed at the 10th Anniversary Lecture of City Business News, under the theme, ‘Logistics as the Engine Room of Nigeria’s Economy,’ where experts called for sweeping reforms to reverse the nation’s worsening logistics crisis.
Speaking at the event, Boboye Oyeyemi, president of the Chartered Institute of Logistics and Transport (CILT), said Nigeria’s weak transport infrastructure, multiple road checkpoints, rising fuel costs and policy inconsistencies have crippled the movement of goods, particularly agricultural produce.
Oyeyemi noted that the country’s logistics inefficiencies are responsible for post-harvest losses each year.
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He also said that despite its strategic importance, the logistics sector contributes only 3.73 percent to Nigeria’s Gross Domestic Product (GDP), largely due to persistent
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