Nigeria Joins World Logistics Passport As Strategic Partnerc - LEADERSHIP
Nigeria has joined the World Logistics Passport (WLP) as a Hub, with the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) as the coordinating partner.
Nigeria is the 11th country in Africa to join the WLP and fifth to join as a Hub Expansion of the WLP network in Africa a boost for the African Continental Free Trade Agreement.
Group chairman and CEO of DP World, Sultan Ahmed bin Sulayem, in a statement yesterday said Nigeria is an important market in West Africa because of its diverse industrial base.
He said: “We view West Africa as a long-term growth market, with Nigeria spearheading growth in the region. The WLP helps deliver economic growth and create jobs by boosting trade, principally by making a country’s products more competitive through more efficient supply chains. For Nigerian traders, this means discovering new opportunities through our network across the African continent and beyond.”
Nigeria is the largest economy in Africa, with a vibrant and diverse industrial base and rapidly expanding regional and global trade interests. In 2019, product exports totalled $63.8bn with trade accounting for 25% of GDP.
With access to the WLP network, Nigerian traders will have the opportunity to enhance the connectivity and efficiency of their cargo operations. This in turn will open up trade routes – allowing for faster, cheaper access to new markets particularly in Asia, Latin America, and across Africa.
Nigeria joined the WLP alongside other African nations including South Africa, Senegal, Morocco, Kenya, Ethiopia, Botswana, Zimbabwe, Mozambique, Burkina Faso, and Guinea.
In his reaction, the minister of Transportation, Rotimi Amaechi, said joining the WLP is about bolstering global trade opportunities for Nigerian businesses and accelerating Nigeria’s already fast-paced growth.
“The WLP will help deliver this by providing benefits to businesses such as priority handling and faster clearance – helping to reduce supply chain costs and increase trade volumes,” Amaechi said.