Nigeria’s 1.6 million container trade far less than it’s ports potential – Logistics expert

Nigeria's ports handle 1.6 million containers annually, a figure significantly lower than the country's trade potential, according to logistics expert Mohammed Akoojee, CEO of DP World Africa. Akoojee highlighted inefficiencies in Nigeria's supply chain that are hindering economic growth and driving up product costs, emphasizing the urgent need for reform.

Despite Nigeria's large population of 200 million, its container trade is only a fraction of what countries like Indonesia handle. Logistics costs in Nigeria currently account for nearly 15% of GDP, almost double the global average, making goods unaffordable for many consumers.

Akoojee stressed the importance of effective logistics services and leveraging technology to drive down costs and make goods more affordable. DP World is investing in technology, such as artificial intelligence and blockchain, to improve transparency and efficiency in African trade.

Despite challenges, Akoojee remains optimistic about Nigeria's potential, with DP World committed to the country for the long term.