General News
CRD, Operators Count Costs to Leverage N500Bn Warehousing Sector
The promising warehousing sub-sector in Nigeria, which stakeholders estimate would be worth over N500 billion annually, would need legislative backing to achieve its full potential.
According to analysts, the warehousing sub-sector, which is mainly private sector driven, is still evolving in Nigeria and piqued by economic, technical and legislative factors.
With technology, the trend, globally, is that warehousing injects live into the supply chain (management).
Speaking at a two-day workshop on ‘Warehousing in Logistics’ organized by the Courier Regulatory Department of NIPOST for stakeholders in the industry, Dr. Simon Emeje, senior assistant postmaster general of the Federation and head of CRD, said that the workshop was motivated by the quest to unleash warehousing potentials in the Nigeria and redirect the business ideas of come courier operators.
Emeje told Nigeria CommunicationsWeek that, CRD has “a philosophy to look for areas, through our surveillance and research, of development. It was as a result we felt that warehousing is a very good are for courier operators to expand their business towards it and have a better horizon in terms of better grasp of the business perspective. We have found out that majority of the operators deemed courier as just delivery of annual general meeting reports or notice of meetings.
“We know there are so many things involved in courier; logistics is a critical area, which many of them are not looking at. We have had similar workshop on leveraging e-commerce to boost the operators’ business portfolios and fortunes”.
Viability Of The Market
On his part, Obiora Madu, director general, Africa Centre for Supply Chain, said that shared visibility of the trading partners in the contemporary business climate has made third party platforms (warehouses) critical part of the distribution chain.
Hinting on the supply chain strategic importance to the economy, he identified SCM as the integration of the activities that procure materials and services, transform them into intermediate goods and final products, and deliver them through a distribution system.
He added that, invariably, competition has shifted from companies to supply chain managers.
Madu said, “Supply chain is a network of partners who through the process of adding value, collectively transform inputs, material and information, into a finished products outputs, that is, goods and services, that is valued and gives satisfaction to end users. No business can survive; much less thrive, without satisfied customers”.
While reeling out principles operators must adopt to deliver satisfactory services, the DG said that, the enabling factors include being customer friendly, process integration such as de-emphasizing functions and departments as no function is more or less important; transparency at all levels; clear, quantifiable performance management system and ultimately, the use of information technology.
He added that practitioners must be willing and capable to embrace momentous paradigm shift, the critical part emphasized by CRD too.
The Place of Technology
Also speaking, Fidel Anyanna, a logistics consultant, told Nigeria CommunicationsWeek that Warehouse has evolved over the years, especially with the help technology.
Anyanna said, “It has ditched in the background, the era when some people, presumed to be ‘never-do-well’, are pushed to work as store-keepers. Today, technology has transformed it into professional inclined. A lot of people are making a living from warehousing today. In UK, for instance, third party logistics providers provide warehouse services and companies do not see the need to have warehouses, as they rely on those third party platforms.
“The future of warehousing is bright, even in Nigeria. For the distributive system, it is a new frontier that the managerial achievements have not even gone half-way. So, anybody who is taking up warehousing services now is making a right decision.
On regulating the sector, he said, “Right now, the industry is not officially regulated. Meanwhile, the only regulation I think should come into play, will force on condition of practice and the environmental preservation. How it is operated has to do, more with business indices, which might not really need government’s regulations”.
Toyin Adeoju, managing director, Cross-Country Courier, also described technology as interventional tools to overhaul the courier industry.
He said, “There are new technologies in logistics and new ideas springing up, almost on daily basis. However, there is an improvement in our operations too as courier operators. From this workshop too, we are taking away the important message that, there are sophisticated technology that can be deployed to make logistics much easier.
“As globalization keeps evolving due to the dynamism of the technology, it also plays important role in rediscovering various measures to lift the courier industry. For example, before now, our parents engaged labourers to lift items to load lorries, but with just the click of buttons, items of different weights and sizes are lifted with ease. Through the help of scanners, barcodes, infrared, among others, items can easily be discovered in a warehouse without physically searching for them.
Lack Of Funds And Dearth Of Infrastructure
The practitioners also picked holes in government’s attitude towards the industry and banks’ inability to project into the future by giving long term loans to help liberate the market.
Also speaking to Nigeria CommunicationsWeek, Mrs. Grace Igwe, managing director and chief executive officer of Cysanthel Chihill Ventures, said that in as much as the regulators are focusing on the need for operators to leverage the warehousing sub-sector, there is need to evaluate the operating environment.
She said, “For instance, just the least, how many trailer drivers will like to ply the kind of roads we have in Nigeria, in traffic congestion and to interiors areas-where there will be space to erect warehouses we can be proud of.
“I am talking about constructing a warehouse in Ikorodu or Badagry, where you still have large expanse of land. At the same time, the manufacturers would prefer the warehouse is close to their factory, because that will give them confidence about delivering goods to the customers on time and as need may rise. Are we considering the way Apapa port is congested? These are economic indices that courier operators put into considerations and most time get overwhelmed.
Aside that, how buoyant is our manufacturing sector? The power supply, has it become stabilized? Now, does the government have warehouses? They do not have; this could be part of the reasons they see no reason in proper regulations or to care for the postal or courier sector. Apart from NAHCO, SAHCOL and other small shades, does NIPOST have a warehouse, it doesn’t. It is capital intensive.
To Lara Okuneye, managing director and chief executive officer of PTL Courier, “NIPOST should help in talking to banks to give long term loans that will support this industry. If I had resources, there are so many ‘empty’ warehouses in Nigeria, some are not been used properly. That is why they are turned to churches. The churches are buying the warehouses. If the courier companies have the money, we would have invested on the sub-sector”.
Shye also suggested two ways to raise the capital, “through the commercial banks or directly from the government. I learnt that Sure-P is giving grants to some people, but will they recognize the right places to invest on? I doubt that. That is the unfortunate thing about what the government is doing and the lukewarm attitude towards the courier industry.
Nodding in agreement, Igwe said that to invest in a warehouse costs hundreds of millions.
“To support, government can build warehouses and sublet them to the professionals to handle. Emphatically, it should be for the indigenous courier companies through the associations. The truth is that we have licences that cover so many areas of courier, but they are not been exploited due to funds. If they should do that, as you are renewing your licence, you pay government certain amount accruable from the warehouse. That will go a long way to help us.
These factors also worry Adeoju, who said, “Warehousing has been neglected in Nigeria due to obvious reasons. I can tell you that it’s not like we (the courier operators) shy away from that multi-billion naira worth of sub-sector, the funds are not readily available. The funds required to revolutionaries the market is huge.
“Painfully, banks are not interested in this kind of business, but they can afford to sponsor music shows in schools where students can download music and the returns comes in per seconds. Even the roads are not motorable. In warehousing you have to include the freight, probably, for the manufacturers who wouldn’t want to hear about delays in the distributions of their products. Both the government and the banks are looking elsewhere. As the market is capital intensive, the banks and the governments do not care, it hurts.
But, Emeje shared some pieces of advice with the industry.
On funding he said, “Actually, it is part of the things we are looking at. In one of our trainings, we brought up the issue of entrepreneurship financing. Through that way we tried to introduce the operators to the banks; we went as far as bringing people from financial institutions; as a way of creating atmosphere for them to network.
“Secondly, we have emphasized on the issue of synergy. Warehousing could be expensive, but some companies can team together and say, ‘look, let’s make some contributions, get a warehouse’, and develop it for other operators that may even want to use.
Regulations
Emeje said that, “The best way to enforce regulations is by exposing the operators to the best approach to practice. However, we intend that as the operators get into the practice of logistics, as an aftermath of this workshop, through our monitoring we will get to know their challenges, and what recommendations to give them.
“Definitely, there could be challenges between the operators and their clients. Even where there are synergies. So, the only way we have designed to come in on the regulatory point is to oversee them, and monitor their activities as they play in the field”.
From Naruto to Attack on Titan, cybercriminals are increasingly using anime and other Gen Z favourites as bait. In a new report covering Q2 2024 – Q1 2025, Kaspersky has found over 250,000 cyberattacks disguised as popular anime among other shows and streaming platforms favoured by a younger audience.
To help Gen Z recognise these and other cyber risks, Kaspersky is launching “Case 404” — an interactive cybersecurity game, teaching how to protect their digital lives.
For many members of Generation Z, streaming is more than a pastime, it’s a way of life that provides connection to the characters, worlds and fandoms that define their identity.
From anime to nostalgia-fueled movie marathons, Gen Z’s connection to on-screen worlds runs deep. This unique attachment creates a security paradox: the more emotionally invested the viewer, the easier it is to trick them, and Gen Z’s enthusiasm is proving dangerously exploitable.
This is extremely evident in anime culture. Over 65% of Gen Z regularly watch anime, making them the most anime-engaged generation in history. For our analysis, Kaspersky’s experts selected five popular anime titles among Gen Z: Naruto, One Piece, Demon Slayer, Attack on Titan and Jujutsu Kaisen.
Kaspersky found 251,931 attempts to deliver malware or unwanted files disguised under the names of these anime titles. Cybercriminals are tapping into the trust and affection Gen Z has for these series, often using bait like “exclusive episodes”, “leaked scenes”, or “premium access”.
Among anime titles, Naruto took the top spot, despite first airing more than two decades ago. Over the reported period, it was used as bait in 114,216 attempted attacks. Demon Slayer followed with 44,200 attack attempts.
Its meteoric rise in recent years, amplified by viral moments and a growing global fanbase, made it a natural target for cybercriminals looking to ride the wave of hype. Meanwhile, Attack on Titan — a long-standing favourite — ranked third with 39,433 detected attempts to distribute malicious content.
Apart from anime, Kaspersky also analysed five iconic films and series that continue to resonate with Gen Z: Shrek, Stranger Things, Twilight, Inside Out 2, and Deadpool & Wolverine.
These films and shows alone accounted for 43,302 attack attempts with a pronounced spike in attention to these titles from cybercriminals at the beginning of 2025. This is primarily connected to the rise of attacks on Shrek, with over 36,000 attempts in total and a sharp spike in March 2025, double the monthly average for 2024.
Platforms like Netflix, Amazon Prime Video, Disney+, Apple TV Plus and HBO Max have reshaped movies, series, and anime watching into an immersive, on-demand experience that caters to Gen Z’s love of personalised content and global storytelling. However, this has also created fertile ground for cybercriminals.
Kaspersky detected 96,288 attempts to distribute malicious or unwanted files disguised as the names of these major streaming platforms. Unlike seasonal trends, streaming platforms offer a continuous flow of content, from highly anticipated premieres to hidden gems that viewers discover months or even years after release.
When examining which streaming services were most frequently used by cybercriminals, Netflix stood out by far, involved in 85,679 attack attempts and associated with over 2.8 million phishing pages imitating its branding.
Cybercriminals take advantage of the constant traffic, broad global reach, and frequent subscription-based activity. They mimic login pages, share “free trial” links, or spoof password reset emails with full knowledge of how central Netflix is to Gen Z’s digital routine.
As Gen Z’s daily life becomes inseparable from streaming platforms, fandom spaces, and social media communities, cyberthreats evolve to mirror their interests. To meet this challenge, Kaspersky has launched an interactive online game, “Case 404”, designed specifically for Gen Z. “Case 404” invites players to become cyber-detectives and solve immersive cybercrime cases.
Through this digital adventure, Kaspersky is not just highlighting risks but empowering Gen Z to develop their mindset and skillset to stay safe in an increasingly vulnerable online world. As a reward for completing the game, participants receive a discount on Kaspersky Premium, giving them trusted tools they need to navigate the digital world safely.
“As the world of entertainment continues to evolve, so do the tactics used by cybercriminals to exploit popular content, whether through fake downloads or fraudulent merchandise offers.
“From beloved anime like Naruto and Demon Slayer to the latest blockbusters like Inside Out 2, scammers have found new ways to take advantage of Gen Z’s affinity for digital culture and streaming platforms. With the rise of these cyberthreats, it’s more important than ever for young users to stay vigilant and understand how to protect themselves online,” comments Vasily Kolesnikov, security expert at Kaspersky.
In total, African countries lost 60 million euros in rejected Schengen visa fees in 2024, analysis from the LAGO Collective has shown.
According to CNN, when Joel Anyaegbu’s application for a Schengen visa to travel to Barcelona was denied late last year, he was surprised but immediately reapplied.
He sent in more documents than were required, including bank statements and proof of property ownership in Nigeria.
He was rejected again.
“The information submitted regarding the justification for the purpose and conditions of the intended stay were not reliable,” read a checklist returned with his passport from the Spanish consulate in Lagos. The 32-year-old gaming consultant said he felt humiliated.
“I had to cancel meetings with partners at the conference I was attending,” he told CNN.
“I emailed the embassy to understand why I was denied but it has not been answered to date.”
Anyaegbu’s was among the 50,376 short-stay Schengen visa applications rejected in Nigeria last year, nearly half of all submissions, according to newly released data from the European Commission.
Applicants worldwide pay a non-refundable visa fee of 90 euros (about $100), so Nigerians alone lost over 4.5 million euros (about $5 million) seeking permission to travel to the 29 European countries that make up the Schengen Area.
In total, African countries lost 60 million euros ($67.5 million) in rejected Schengen visa fees in 2024, analysis from the LAGO Collective showed.
The London-based research and arts organization has been monitoring data on European short-term visas since 2022 and said Africa is the continent worst affected by the cost of visa rejections.
“The poorest countries in the world pay the richest countries in the world money for not getting visas,” its founder Marta Foresti told CNN.
“As in 2023, the poorer the country of application, the higher the rejection rates. African countries are disproportionately affected with rejection rates as high as 40-50% for countries like Ghana, Senegal and Nigeria.”
She says this proves “inbuilt discrimination and bias” in the process.
A European Commission spokesperson told CNN that member states consider visa applications on a case-by-case basis.
“Each file is assessed by experienced decision-makers on its own merits, in particular regarding the purpose of stay, sufficient means of subsistence, and the applicants’ will to return to their country of residence after a visit to the EU,” the spokesperson said via email.
Africans have long complained about inconsistent, sometimes baffling decisions about who gets approved or denied while applying for European visas.
Cameroonian Jean Mboulé was born in France but when he applied for a visa in 2022 alongside his wife using similar documents, his application was rejected but hers was not.
“At the time she was unemployed but with a South African passport. She had no income but received a visa on the back of my financial statement,” he told CNN.
“But the embassy said they refused my application because my documents were fake, and they weren’t sure I would come back to South Africa, where I am a permanent resident, if I went to France.”
The 39-year-old regional executive took legal action in French courts and won, forcing the French embassy in Johannesburg to grant his visa and pay him a fine of 1,200 euros.
He told an administrative tribunal in the French city of Nantes that the embassy’s decision to deny him a visa was “tainted by insufficient reasoning.”
Mboulé pointed out that he had provided sufficient guarantees that he would return at the end of his trip to his wife and daughter in South Africa where he owns a building. After he got the visa, he chose to go to Mauritius instead as he didn’t want to spend his money in France.
The EU said its member states consider visa applications on a case-by-case basis.
The Cameroonian’s case is unique as many Africans denied Schengen visas rarely appeal or contest the decisions in court.
Like Anyaegbu, the Nigerian gaming consultant, they often reapply, losing more money in the process.
Mboulé has travelled several times to the UK and other African countries but was still denied twice for Schengen.
“The financial cost of rejected visas is just staggering; you can think of them as ‘reverse remittances,’ money flowing from poor to rich countries, which we never hear about,” the LAGO Collective’s Foresti says.
Schengen visa fees increased from 80 to 90 euros in July 2024, making it even more expensive for the world’s poorest applicants.
But South African management lecturer Sikhumbuzo Maisela said the visa rejection rates for Africans were lower than he expected.
“The visa vetting process seems to be shaped less by outright prejudice and more by historical patterns of behaviour,” he told CNN via email.
“Western countries have had instances where visa holders overstayed or violated terms, and this has influenced how future applications are scrutinized.”
IFC, a member of the World Bank Group, has partnered with Standard Chartered to bolster local currency financing for private enterprises in emerging markets.
Standard Chartered will provide local currency loans to IFC in selected markets, which IFC will subsequently on-lend to private-sector projects.
The inaugural transaction under this collaboration is a loan of 9 billion Kenyan shillings (equivalent to approximately 70 million US dollars) to IFC, which will support the advancement of digital infrastructure in Kenya.
“With exchange rate volatility and rising debt pressures the need for local currency financing in emerging markets has become increasingly evident. When businesses borrow in the same currency as their revenues, they can concentrate on growth instead of exchange rate fluctuations,” said John Gandolfo, IFC Vice President and Treasurer, Treasury & Mobilization. “As we increase our local currency financing abilities, we plan to replicate this facility in other currencies across the globe.”
Sunil Kaushal, Global Co-Head, Corporate & Investment Banking, and CEO, ASEAN and South Asia markets, Standard Chartered said: “This landmark transaction in Kenya reflects our commitment to supporting financial resilience in local markets.
By partnering with IFC, we’re delivering local currency solutions that help corporates in emerging markets manage currency volatility and access the long-term capital they need to grow. With our deep roots and liquidity access across emerging markets, we are well positioned to scale this initiative and enable more businesses to access stable financing options.”
Kariuki Ngari, Managing Director and Chief Executive Officer, Kenya and Africa, Standard Chartered said: “This partnership represents a pivotal step forward in enhancing Africa’s financial resilience. By facilitating local currency financing, we not only address one of the most significant challenges facing the businesses across the continent – exchange rate vitality – but also open up new avenues for long term economic growth.
Kenya’s digital infrastructure sector is particularly well positioned to benefit from this inaugural transaction, setting the stage for scalable and sustainable financing solutions. These models will drive economic growth and empower local enterprises supporting prosperity across Africa.”
Exchange rate volatility presents a risk for companies that borrow in hard currency, such as the US dollar, but get paid in local currency.
Many local companies in emerging markets lack the capacity to effectively manage these currency risks. Therefore, securing local currency financing at competitive rates with flexible features is increasingly important to meet the growing need for diverse financing options among local companies.
IFC has increased its collaboration with global, regional and local banks to provide more local currency financing to clients. The organization has offered local currency products—such as loans and bonds, structured finance products, and risk-management solutions since the early 1990s.
Between FY15 and FY24, IFC committed local currency senior debt financing of over $30 billion US dollars in 67 local currencies through loans and bonds, structured products, and risk-management solutions.
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