E-Business
CLMI Urges FG to Prioritize Logistics and Transportation for Economic Growth
Federal Government has been urged to prioritize investment in Nigeria’s courier, logistics, transport, and management industry, valued at over N15 trillion.
Courier & Logistics Management Institute (CLMI
This call to action was highlighted at the Courier & Logistics Management Institute (CLMI’s) 2024 International Conference & Investiture event in Lagos, where industry experts and professionals gathered to address challenges and propose solutions for growth in this vital sector.
According to Dist. Prof. Simon Emeje, the executive chairman, Courier & Logistics Management Institute (CLMI), “The combined worth of Nigeria’s courier, logistics, transport, and management industry is staggering. Valued at no less than N15 trillion, this sector is crucial to Nigeria’s economic future.”
He cited research showing the market potential could be as high as N25 trillion.
Dist. Prof. Simon Emeje, the executive chairman, Courier & Logistics Management Institute (CLMI) speaking at CLMI 2024 International Conference and Investiture.
Prof. Emeje explained, “In many countries, this sector contributes approximately 7-8% to GDP. However, in Nigeria, its contribution currently stands at around 4%, revealing a substantial gap that, if addressed, could unleash transformative growth.”
He called on the Nigerian government to harness the resources within the sector, stressing that investment could unlock revenue streams contributing up to 60% 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, Reverend Father (Dr.) Hyacinth Iormem Alia, the executive governor of Benue State, said the State has queued into the courier and transportation sector to better the worth of citizens.
The Governor, represented by Chief Aber Terseer Benjamin, the chief executive of FarmBasket Global Resources Limited, 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.
Chief Aber Terseer Benjamin, representing Reverend Father (Dr.) Hyacinth Iormem Alia, the executive governor of Benue State
“We purchased one hundred buses with support from the Federal Government and handed them over to Benue Links Limited to provide affordable means of transportation for our people.
“The procurement of these Buses was to cushion effects of the transportation challenge that was occasioned by the removal of fuel subsidy by the Federal Government. Not quite long, our administration repaired some of the Marco Polo Buses of Benue Links that laed dormant for many years for an intercity movement.
“Passengers are being transported from one point of Makurdi town, worth almost four kilometres, to another destination just for two hundred naira only. Our people are very happy with this modest effort too.
“Benue Links Limited has also commenced the lifting of goods from Lagos to other parts of the country using high profile Trucks that have been positioned in Lagos specifically for this task. The rates offered by Benue Links in providing this service are more-friendly as compared to other Companies offering similar service”.
He extended partnership handshake to CLMI to liaise with the management of Benue Links Company on how best they could synergise to enhance the transportation system in the country.
CLMI Fellows
In his keynote address, Dr. Sam Ohuabunwa, Chairman of the Africa Economic Summit, emphasized logistics as an essential tool for Nigeria’s economic transformation. Speaking on the theme, “Unlocking Economic Potentials and Fostering Nation-building through Logistics Instruments,” he explained, “Logistics is the process of planning and executing efficient transportation and storage of goods. It’s fundamental to economic growth, acting as a bridge to meet consumer needs in a cost-effective and timely manner.”
Barr Adebayo Shittu, fmr. Minister of communications, also Patron of the Institute.
Dr. Ohuabunwa also called for strategic investment in infrastructure, energy, and broadband technology. “Robust infrastructure can reduce production costs, increase global competitiveness, and stimulate industrial growth,” he said.
He stressed the need for better access to credit at single-digit interest rates to enable growth in agriculture and small businesses.
Dr. Ohuabunwa noted that despite Nigeria’s abundant resources, the country’s economy is hampered by insufficient infrastructure, underdeveloped industrial capacity, and over-reliance on imports.
He encouraged a return to productivity-driven economic planning, proposing government investment in essential infrastructure to stabilize the economy, improve foreign reserves, and strengthen the Naira.
Dr Olusola Obadimu, director general, Nigerian Association of Chamber of Commerce, Indistry, Mines and Agriculture [NACCIMA]
Also speaking at the event, Dr. Oluwasegun Musa, CEO of Widescope International Logistics, stressed the need for modernization and policy reform within Nigeria’s logistics sector.
He noted that Nigeria’s logistics infrastructure is still in its infancy and lacks support to drive economic advancement. Dr. Musa advocated for comprehensive policy frameworks and infrastructure investment, stating, “Nigeria should not operate in the ‘Stone Age’ of logistics. We need robust infrastructure and advanced technologies, such as drones, to compete globally.”
According to Dr. Musa, logistics is “the motive force behind every economy,” and a strong logistics framework is essential for sustainable growth. He urged the government to prioritize the logistics sector and implement policies that would transform it into a true driver of economic development.
All the speakers highlighted the importance of strategic investments and infrastructure development to unlock Nigeria’s full economic potential.
Their recommendations included increasing public-private collaborations, placing industry experts in key positions, and adopting policies that support sector growth.
National Insurance Commission (NAICOM) has urged Nigerian insurance companies to develop and introduce cyber insurance products.
This is in response to the escalating digital risks accompanying global digitalization.
This initiative aims to provide coverage against cyber threats and data breaches, ensuring that businesses and individuals are protected in the evolving digital landscape.
To facilitate this development, NAICOM is collaborating with the National Information Technology Development Agency (NITDA) and the Nigeria Data Protection Commission (NDPC).
This partnership seeks to promote cyber insurance and ensure compliance with Nigeria’s Data Protection Regulations, emphasising the importance of data protection training for industry practitioners.
Despite the growing threat of cybercrime, cyber insurance remains underutilised in Nigeria. Industry reports indicate that many businesses and individuals overlook the importance of cyber insurance, even as global cybercrime losses are projected to reach $10.5 trillion by 2025.
NAICOM’s directive underscores the need for the insurance industry to adapt to the digital era by offering products that address contemporary risks, thereby enhancing the resilience of Nigeria’s digital economy.
Google has increased the price of its Google One subscription in Nigeria.
The tech giant, in a note to its customers, said, “Price will automatically increase to N1,900/month on 28 Mar 2025 for your Google One subscription. Cancel at any time in Google Play.”
The old price was N1,200. Google One, a cloud storage service offered by Google LLC, provides users with a centralised platform to manage their storage across Google Drive, Gmail, and Google Photos.
It added that subscribers who do not cancel their subscription will be charged automatically on the payment method they provided.
In the world of technology and entrepreneurship, few names resonate as powerfully as Mrs. Chioma Ekeh, CEO of TD Africa, Africa’s leading technology distribution powerhouse.
Mrs. Chioma Ekeh, CEO of TD Africa
A media-reclusive entrepreneur and quiet achiever, she has made a name for herself not with loud proclamations but through consistent actions that have shaped the trajectory of the continent’s digital economy.
She has steered the company to unprecedented heights, forging strategic partnerships with global giants such as HP, Microsoft, Apple, Starlink, IBM, Dell Technologies, Ring (by Amazon), Cisco, Lenovo, APC by Schneider Electric, Samsung, Bosch, Philips, Logitech, and Vivo.
These collaborations have not only strengthened TD Africa’s position as a market leader but have also contributed to the growth of Africa’s tech ecosystem.
At the recently held Accra Synergy Summit, a high-profile event held in Ghana that brought together top strategic partners and Original Equipment Manufacturers (OEMs), Mrs Ekeh made a bold declaration: “We are no longer waiting for change — we are driving it. We are no longer spectators in the digital revolution — we are architects, engineers, and visionaries shaping the future.” This statement, emblematic of her visionary leadership, underscores her commitment to driving Africa’s tech renaissance.
Ekeh’s words are not mere rhetoric; they are backed by tangible achievements and a deep understanding of Africa’s digital potential. The data speaks for itself.
According to the International Finance Corporation (IFC), Africa’s digital economy is on track to reach $180 billion this year, with projections indicating it will soar to an astonishing $712 billion by 2050.
This growth is not just an increase in numbers — it signifies a paradigm shift in how Africa engages with technology and innovation.
With over 570 million internet users today, Africa is undergoing an unprecedented digital awakening, a number expected to double by 2030 according to the World Bank.
From financial inclusion to business automation, Africa is embracing the digital age at an accelerated pace, with 70% of global mobile money transactions already occurring in sub-Saharan Africa.
This widespread adoption is a testament to the ingenuity and resilience of African entrepreneurs and businesses.
The continent’s tech ecosystem is also attracting significant global attention. In 2022 alone, African tech startups secured over $6.5 billion in investments, a clear testament to the world’s belief in Africa’s digital future.
Ekeh’s message is clear: Africa’s future is bright but requires collective effort.
Rapid transformation does not happen in a vacuum. It is built on strategic collaborations and forward-thinking leadership.
According to Ekeh, “This renaissance is not happening in isolation. It is built on the foundation of strong partnerships. It is fuelled by collaboration — between businesses, governments, and technology enablers like TD Africa. Each of us has a role to play in ensuring that Africa doesn’t just adopt technology but creates, innovates, and leads.”
Her words serve as a rallying cry for businesses, governments, and individuals to strengthen partnerships, increase investments, and take bold steps toward excellence. “Africa is no longer just a consumer of technology. Africa is a builder. Africa is no longer following global trends. Africa is setting them. Africa is no longer waiting for the future. Africa is the future,” she concluded.
Chioma Ekeh’s leadership and vision are a testament to what can be achieved when passion, innovation, and collaboration come together.
As Africa continues its journey toward a tech-driven future, her words and actions remind us that the power to shape tomorrow lies in our hands today.
TD Africa has remained at the forefront of Africa’s tech revolution as the market leader in technology distribution.
Under Ekeh’s leadership, the company has not only expanded its portfolio of global partners but has also facilitated the seamless deployment of innovative tech solutions across various sectors.
By empowering businesses with cutting-edge technology, TD Africa is laying the groundwork for an Africa that does not just consume technology but pioneers it.
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