…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
BY KENNETH EZE
Nigeria has joined the World Logistics Passport as a Hub, with the Council for the Regulation of Freight Forwarding in Nigeria as the coordinating partner.
In a statement made available to The Point, the WLP stated that “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 totaled $63.8bn with trade accounting for 25 per cent of GDP.”
Group Chairman and CEO of DP World, Sultan Ahmed bin Sulayem, 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.”
He explained that this membership meant new opportunities for Nigerian traders. “For Nigerian traders, this means discovering new opportunities through our network across the African continent and beyond,” he added.
Minister of Transportation in Nigeria, 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.”
The Point reports that with access to the WLP network, Nigerian traders will have the opportunity to enhance the connectivity and efficiency of their cargo operations, which in turn will open up trade routes – allowing for faster, cheaper access to new markets particularly in Asia, Latin America and across Africa.
Nigeria has joined the WLP alongside other African nations including South Africa, Senegal, Morocco, Kenya, Ethiopia, Botswana, Zimbabwe, Mozambique, Burkina Faso and Guinea.
“The continued expansion of the WLP across Africa will help to deliver on the vision of the African Continental Free Trade Agreement by reducing end-to-end costs across the logistics chain in Africa, boosting intra-regional trade, and opening up competitive access to new international markets for African companies,” the statement added.
CRFFN, the coordinating partner, is the national regulator of the freight forwarding industry in Nigeria, promoting the growth and global competitiveness of the freight forwarding sector for the benefit of the Nigerian economy and the commercial success of its member companies.
