Nigeria's Dr Obiora Madu Reports ₦3.6tn Loss in Logistics

Dr Obiora Madu, the Director-General of the Africa Centre for Supply Chain, stated that Nigeria loses more than ₦3.6tn to inefficiencies and distortions in its transportation and logistics sector. He emphasized that poor connections within the transport network are increasing business costs and limiting the performance of small-scale enterprises.

Madu spoke at the BusinessDay Mobility and Logistics Conference in Lagos, where industry stakeholders advocated for an integrated transport system to improve goods movement and lower logistics costs. He argued that investments in transport infrastructure would be ineffective without effective coordination among different transportation modes.

Dr Kayode Opeifa, the Managing Director of the Nigerian Railway Corporation, echoed the need for an integrated system, highlighting that weaknesses in the transport network lead to congestion and rising logistics costs. Opeifa identified rail transport as crucial for connecting seaports and urban centers, advocating for complementary development among rail, road, maritime, and air transport.