The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole has projected the growth of the logistics industry at over $3 trillion in the next five years.
Oduwole spoke at the official opening of the international headquarters of a logistics firm, Zenith Carex, in Abuja, on Wednesday.
The event coincided with the 51st birthday anniversary of its Managing Director/Chief Executive Officer of Zenith Carex, Dr. Adelana Olamilekan.
Oduwole, who was represented by the Executive Director/Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Nonye Ayeni, described logistics as one of Nigeria’s fastest growing industries, whose vital role in shaping the private sector’s businesses cannot be undermined.
She said, “Across the field of today’s economy, the role of logistics in terms of trade facilitation and economic diversification will not be timelier.
“As we collectively navigate complex domestic and global trade environments, the efficiency of our logistics system has become central to achieving our broader national goals.
“From food security to the urgent responsibility of integration and inclusiveness in a country of over 200 million people spread across vast terrain and diverse geographies, logistics determine access and affordability globally.
“Logistics have evolved from a back-end support function into a strategic enabler for growth.
“In Nigeria, the sector is one of the fastest-growing, driven by rising consumer demand, expanding telecoms and the emergence of technology-driven supply chain solutions.
“Globally, the logistics industry is valued at over $9 trillion, the Minister stated.
According to the Minister, the industry’s significant growth, particularly in Africa, where intercontinental trade is set to flourish under the African Continental Free Trade Area Act (AfCFTA), cannot be overemphasised.
The Minister, who was elated that the logistics sector has grown steadily at an average annual rate of about 8.5 per cent in the country over the past five years due to increase in e-commerce, manufacturing, agricultural businesses and increased participation in regional trade, commended Olamilekan for his contributions towards the growth of the industry.
Oduwole recalled the COVID-19 pandemic period, when Nigeria’s fragmented coastal infrastructure highlighted the need for robust, decentralised logistics hubs, pointing out that facilities such as Zenith Carex, directly addressed the gap by improving storage capacity of temperature-sensitive goods, vaccines and agricultural goods.
She however, underscored the need for Nigeria to tackle structural challenges, high cost of trade, infrastructural deficits, fragmented regulatory frameworks and limited multimodal connectivity.
“These challenges impose significant costs on businesses and diminish our productivity.
“The future of logistics will be digital, green and inclusive.
“Transforming Nigeria’s logistics sector is not the job of the government alone. It requires the shared vision, investment, and collaboration of all stakeholders, public and private, local and global” the Minister stated.
The CEO, Zenith Carex, Dr. Olamilekan Adelana, in his remarks, expressed gratitude to God for translating his one-time dream to reality.
He explained that the journey was that of a quiet, persistent belief that service, excellence and integrity could build something meaningful.
With over 80 branches nationwide in the last 22 years of establishment, the company prides itself as one of the major names in the logistics industry.
He added that Zenith Carex “is not just a company but a community.”
- Afenifere Commends Tinubu Over Plans To Establish State Police - June 20, 2025
- Our Approach To Governance Has Endeared APC To Kogi People – Ododo - June 20, 2025
- 2027: APC Support Groups Collapse Structures, Declare Support For Atiku - June 20, 2025