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”.
General News
AFC Proffers Action Plans for Nigeria, Africa to Unlock $4trn from Investors to Grow Economy
Nigeria and other African nations can tap up to $4 trillion in capital from institutional investors, an amount that could be used to fund the continent’s infrastructural gaps and engineer much-needed economic growth, according to the Africa Finance Corporation.
While there are as investable domestic capital across banking assets, institutional funds, and reserves, the multilateral lender revealed on Thursday that funds are still being channeled into “low-risk and short-term instruments instead of being channelled into the real economy.”
“Redirecting more savings into the real economy is critical,” said Rita Babihuga-Nsanze, AFC chief economist and director of strategy, speaking during the AFC’s 2025 State of Africa’s Infrastructure briefing. “Africa must build its intermediation infrastructure to match its development needs.”
Nigeria is however demonstrating how Africa can unlock domestic capital for infrastructure, with its pension fund investments in the sector rising from just $6 million in 2015 to more than $155 million in less than a decade.
This milestone, driven largely by reforms and credit enhancement mechanisms like InfraCredit, underscores the growing role of pensions in financing long-term development on the continent.
Data from the Africa Finance Corporation (AFC) shows that as of February 2025, Nigeria’s infrastructure-related pension assets had grown to N250.87 billion, representing 1 percent of total assets under management (AUM).
This is a sharp increase from the N1.19 billion recorded in 2015, which stood at just 0.02 percent of AUM.
A turning point came in 2017, with the launch of InfraCredit and Nigeria’s maiden corporate infrastructure bond. The credit guarantee initiative helped de-risk infrastructure projects, attracting conservative institutional investors like pension fund administrators (PFAs).
Chinua Azubike, managing director of InfraCredit said the credit-guarantee institution has helped facilitated bonds to build critical infrastructure, citing the bond raised for the construction of the Lagos Free Zone.
Azubike noted that while perception of risks persists, the company has “zero default rate” despite being involved in well over 12 sectors.
But while Nigeria’s growth is notable, pension allocations across Africa remain largely skewed toward low-risk, short-term instruments such as government securities and money market funds.
In countries like Ghana and Uganda, over 75 percent of pension assets are held in government bonds. Nigeria itself still holds 63 percent of its pension assets in these instruments.
This conservative stance, analysts say, reflects both regulatory caution and the underdevelopment of local capital markets.
In contrast, economies like India and OECD countries show a more balanced allocation, with significant exposure to corporate debt, real estate, and alternative investments. For example, OECD pension funds allocate nearly 20 percent to alternatives, according to AFC data.
To replicate Nigeria’s model, experts are calling for a coordinated effort to deepen capital markets, build risk assessment capacity, and create vehicles that can intermediate long-term finance effectively.
Beyond returns, pension investments in infrastructure have the added benefit of creating jobs, boosting productivity, and supporting economic resilience, critical needs in a post-pandemic, climate-vulnerable Africa.
Association of Set-Top Box Manufacturers of Nigeria (STBMAN) has accused the National Broadcasting Commission (NBC) of sidelining indigenous manufacturers and flouting a subsisting court order in its push to launch a new satellite-driven Digital Switch Over (DSO) scheme, tagged ‘The Big Picture’.
Charles Ebuebu, director-general, NBC
The group is calling on President Bola Tinubu to urgently intervene.
STBMAN, in a statement issued by Sir Godfrey Ohuabunwa, its chairman, described the NBC’s approach as “incoherent and unfair”, alleging a consistent pattern of disregard for existing agreements and stakeholders.
“It is becoming routine for the Commission to embark on a course without the slightest consideration to agreements and for key stakeholders in the DSO ecosystem,” the group stated.
The manufacturers expressed concern over NBC’s plan to import five million hybrid set-top boxes from China, despite a presidential executive order promoting local content in procurement.
They argue this move contradicts the “Nigeria First Policy” and undermines years of local investment.
“NBC should therefore be a promoter of economic activities and not a destroyer of ideas and investments,” STBMAN said, highlighting that its members still hold unsold boxes manufactured to NBC’s original specifications.
READ THE FULL STATEMENT BELOW:
PRESS RELEASE BY THE ASSOCIATION OF SET TOP BOX MANUFACTURERS OF NIGERIA, ON THE JOINT PRESS RELEASE BY THE DIRECTORS GENERAL OF THE NATIONAL BROADCASTING COMMISSION (NBC) AND NIGCOMSAT ON THE UNVEILING OF SATELLITE DRIVEN DIGITAL SWITCH OVER (DSO) TAGGED ‘‘THE BIG PICTURE’’.
The Association of Set Top Box Manufacturers of Nigeria (STBMAN)is once again compelled to issue a statement on the very incoherent and unfair practices being pursued by the National Broadcasting Commission (NBC)in its implementation of the FGN’s policy on the migration from analogue to digital broadcasting. Regrettably, it is becoming routine for the Commission to embark on a course without the slightest consideration to agreements and for key stakeholders in the DSO ecosystem.
The public is invited to note that STBMAN is a body of technology driven businesses and is not averse to the introduction and use of new technologies.
Similarly, it should be noted that the Association is not alluding to any inference that it should be the ultimate determiner of how the project is implanted.
For any keen follower of the DSO since its conception by the DigiTeam, it is not far- fetched to recall its decision on the adoption of the Digital Terrestrial Television (DTT) option as against the DTH on grounds of the cost that will be difficult to bear by the larger part of the TV viewing population.
Secondly, as at today the Federal Government of Nigeria has spent close to over N60Billion on DSO program, excluding Millions of Dollars spent by Broadcast Signal Distributors, local DTT factories and other stakeholders who have deployed DTT Infrastructure. This is not minding the over 10 million Poor Television Households that will be impacted by mindless action of hybrid box.
As we are not averse to any change of any government policy, it is on record that STBMAN at various times have encouraged NBC to partner with NIGCOMSAT to provide the necessary signal transmission/ coverage to ameliorate the heavy cost that was being paid to foreign satellite distribution/ carriers but the NBC outrightly refused to consider this.
It is heart-warming to note finally that NIGCOMSAT is now the latest and best to provide signal coverage.
Curiously, the Press Release stated that local manufacturers would be engaged to produce hybrid compliant reception devices yearly, yet there has been no form of engagement with the 13 licensed STB manufacturers who have committed huge financial cost in the manufacture of DTT boxes specifically ordered and made to specifications provided by the NBC/ Digiteam.
It is imperative for the public to note that the STB manufacturers have toiled and sacrificed for the success of the DSO but at each turn, there appears to be deliberate and calculated move to scuttle their efforts and investments.
For almost 10 years, members of STBMAN have been left with scores of boxes in their warehouses without being able to sell because of NBC’s inability to deliver on its obligations and contractual agreements.
The least that any well-meaning governmental body that cares for the growth of its economy should have done, would have been an engagement with the existing licensed manufacturers to work out an acceptable arrangement, considering the financial investments as well as the changes in technology that have become necessary to undertake.
The public is invited to note further that it was on grounds of this and NBC’s attempt to undermine the agreement and the exclusivity granted the pioneer manufacturers that the Association took out a Writ of Summons in Suit No: FCT/HC/GAR/CV/442/2024 to protect its interest by seeking Court intervention to stop any attempt at licensing new manufacturers of STBs. It is *instructive to emphasis here that on the 11th day of September 2024, the High Court of the Federal Capital Territory, sitting in Abuja made interim orders restraining NBC from taking any further step in relation to the reliefs being sought by the Claimants.
Notwithstanding the fact that NBC is not only seized of the pendency of the case/ action but has joined issues with the Claimants, it has chosen the path of contempt to short circuit the ends of justice.
An order of court, whether valid or not must be obeyed if it is subsisting by all no matter how lowly or lightly placed in society until it is set aside. This is what the rule of law is all about.
As if NBC is running a different Government, in the press release, they intend to import 5,000,000 Hybrid/DTH Set Top Boxes from China, in total disregard of the Presidential Executive Order “The Nigeria First Policy’ which makes it mandatory, that Nigeria comes first in all procurement processes.
No foreign goods or devices that are already produced locally will be procured without a clear justified reason. Accordingly, the policy reflects the vision of President Ahmed Tinubu GCFR in industrializing Nigeria, shielding the economy from global shocks and building sustainable local capacity. NBC should therefore be a promoter of economic activities and not a destroyer of ideas and investments.
In the light of the foregoing, we call on Mr. President, Alh. Bola A. Tinubu GCFR to urgently wage in and stop this rather dangerous trend sought to be perpetrated by the NBC leadership and its advisers.
Thank you.
For: ASSOCIATION OF LICENCED SET TOP BOX MANUFACTURERS OF NIGERIA. (STBMAN)
SIR GODFREY N. OHUABUNWA
CHAIRMAN
Jumia, Africa’s e-commerce platform, is celebrating 13 years of transforming the way Nigerians shop. Since its launch in 2012, Jumia has evolved into more than just an online shopping destination. It has become a catalyst for economic growth, digital inclusion, and everyday convenience for millions of Nigerians.
From small business owners and rural consumers, Jumia has played a key role in shaping a more inclusive digital marketplace. Over the past decade, the platform has helped hundreds of local and international brands reach customers across the country, while also supporting thousands of sellers with tools, training, and access to logistics and digital payments.
To commemorate this milestone, Jumia is launching the 2025 Anniversary Campaign under the theme “Enjoyment Overload”, running from June 2 to June 22. While the campaign will feature attractive deals from Nivea, Xiaomi, Itel, Diageo, Ecoflow, Skyrun, Oraimo, Adidas, Reebok, Unilever, Reckitt, and more, it also reflects a deeper celebration of the brand’s enduring impact.
“We are proud of the journey so far, not just in terms of business growth, but in the real-life stories of empowerment and access that Jumia has made possible. With this anniversary campaign, we’re pulling out all the stops to create a celebration that rewards loyalty, excites new users, and showcases the very best of what e-commerce can offer.
This is our way of saying thank you to the millions of Nigerians who have grown with us, challenged us, and inspired us every step of the way,” said Sunil Natraj, CEO, Jumia Nigeria.
“Beiersdorf Nigeria owner of Nivea Brand, is proud to partner with Jumia as the Platinum Sponsor for the 2025 Jumia Anniversary Celebration. This three-week event allows us to showcase our commitment to skincare innovation and reward consumers nationwide.
“NIVEA will highlight key innovations, including our new NIVEA SUNSCREEN – UV Face, re-launched Deep Maxx Tech Body Lotion, and Radiant & Beauty Even Glow, specially designed to meet the unique skincare needs of African skin.
“Through this partnership, we’re bringing trusted skincare solutions to more Nigerians, with exclusive discounts and a 4.5 million Naira grand prize for the top shoppers,” said Dele Adeyole, Country Manager, Beiersdorf Nivea Consumer Product Limited.
Shoppers can look forward to daily flash deals, brand days, games, treasure hunt, and exciting giveaways from Jumia and partner brands.
As Nigeria’s digital economy continues to evolve, Jumia remains committed to simplifying daily life through technology, innovation, and a customer-first approach.
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