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Nigeria Ranks 121 on Trade Logistics Performance 2012
Nigeria garnered 121st position, clocking 2.45 and scoring 46.3 per cent out of 155 economies included in the Logistics Performance Indicators (LPI), appearing behind 108th placed Ghana scoring 2.51 and returning 48.2 per cent, Nigeria CommunicatiionsWeek can now report.
Based on the latest World Bank’s survey on trade logistics, countries like Chile, China, India, Morocco, South Africa, Turkey, and the U.S. all improved their previous performance, which is based on a comprehensive world survey of international freight forwarders and express carriers with Singapore topping the performance chart.
“Trade logistics is key to economic competitiveness, growth, and poverty reduction,” said Otaviano Canuto, World Bank Vice President for Poverty Reduction and Economic Management (PREM).
“Unfortunately, the logistics gap between rich and poor countries continues and the convergence trend experienced between 2007 and 2010 has stalled as events like the global recession, and the European debt crisis shifted attention from logistics reform.”
A multidimensional assessment of logistics performance, the LPI compares the trade logistics profiles of 155 countries and rates them on a scale of 1 (worst) to 5 (best).
The ratings are based on 6,000 individual country assessments by nearly 1,000 international freight forwarders, who rated the eight foreign countries their company serves most frequently.
The LPI’s six components include: The efficiency of the clearance process (speed, simplicity, and predictability of formalities) by border control agencies, including customs.
The quality of trade- and transport-related infrastructure (ports, railroads, roads, information technology).
Others are the ease of arranging competitively priced shipments and the competence and quality of logistics services (transport operators, customs brokers).
And finally the ability to track and trace consignments and the frequency with which shipments reach the consignee within the scheduled or expected delivery time.
South Africa was ranked 23 and scored 3.67 and 85.5 per cent with Morocco coming 50th, clocked 3.03 and 65 per cent.
The last three positions were occupied by Haiti, Djibouti and Burundi, who scored 153-2.03-32.8 per cent; 154-1.80-25.5 per cent and 155-1.61-19.5 per cent in that order.