By:Thenationonlineng

Industry experts made the call at the Courier & Logistics Management Institute (CLMI’s) 2024 International Conference & Investiture event in Lagos.

Speaking on the occasion, the Executive Chairman, Courier & Logistics Management Institute (CLMI), Prof. Simon Emeje, said the combined worth of Nigeria’s courier, logistics, transport, and management industry is valued at no less than N15 trillion, adding that the sector is crucial to Nigeria’s economic future.

He cited research showing the market potential could be as high as N25 trillion.

Prof. Emeje said: “In many countries, this sector contributes approximately between seven and eight per cent to the gross domestic product (GDP). However, in Nigeria, its contribution currently stands at around four per cent revealing a substantial gap that, if addressed, could unleash transformative growth.” SHAPE  \* MERGEFORMAT  SHAPE  \* MERGEFORMAT

He called on the Federal Government to harness the resources within the sector, stressing that investment could unlock revenue streams contributing up to 60 per cent of the annual national budget.

To underscore these points, industry experts at the event presented strategies such as logistical innovations and advanced transport management approaches, advocating that the sector should become a cornerstone of Nigeria’s economic agenda.

Following the CLMI’s offer to collaborate with the government at different levels to harness this potential through public-private partnerships, regulatory reforms, and targeted investment, Benue State governor, Rev Father (Dr.) Hyacinth Iormem Alia said the state has keyed into the courier and transportation sector to better the lot of the citizens.

Represented by the Chief Executive of FarmBasket Global Resources Limited, Chief Aber Terseer Benjamin, the governor said: “Benue Links Company holds greater economic opportunities for our dear State and our administration needed to act fast to rescue and reposition the Company that almost went comatose to its current status.