Nigeria
has been home to a numeral of the ancient and indigenous kingdoms and states
over the millennia. Nigeria is often referred to as the “Giant of
Africa” due to its great populace and economy. Nigeria has the
third-largest youth populace across the globe, after China and India, with more
than 90 million of its populace under age 18. Not only has this, but Nigeria is
also the 12th the wildest manufacturer of petroleum across the
globe and the 8th largest exporter, and has the 10th greatest
proven reserves.
According
to the market research company in Nigeria, logistics is vigorous for the economic
performance of any region. Nigeria has poor infrastructure and logistical
issues along with the overdue convention processed and congestion on the roads.
It is an import-based region and the region is dependent on the export of crude
oil. Moreover, Nigeria was ranked 145 out of 190 regions during the
recent past years in ease of doing business Index and ranks 112 in the
Logistics Performance Index during the recent past. The growth in the Nigeria
logistics market has been owing to the Infrastructural improvements in
the Railways and Airways, development in foreign ties with several other
regions and the effective increase in the e-commerce segment.
Nonetheless, the
government of Nigeria and the private corporates are the underwriters for
augmenting the requirement of the cold storages for the agricultural
and pharmaceuticals drugs and medicines. The Lagos has been the commercial hub
of the region and the most prime area in the terms of trade and logistics owing
to the proximity to the foremost seaports, airports and the industrial parks in
the region. On the basis of Market Research Firms in Nigeria, the
market is stringently regulated by NAFDAC owing to the poor
warehousing standards and the increasing trafficked goods in the market. The
growing automation technology along with the more developed inventory
management systems is predicted to support the positive growth of the
warehousing sector.
By
the courier, parcel and express logistics market, the boost of the e-commerce
and easing of e-payment systems such as PIN-based debit
cards, Paystack in Nigeria have augmented the requirement
of the couriers and parcel market in the region. The effective
increase in the prominence of the online shopping will
also underwrite towards a long term growth for the Express
Delivery Segment in the coming years. Furthermore, the growth of the e-commerce
business has led to a junction of B2B and B2C traffic, with
the parcel logistics delivers progressively embracing both to the service
consumers’ Omnichannel supply chains.
Nonetheless,
based on the Market Research Company in Nigeria, the Nigeria
Warehousing market was evaluated to increase speedily during the
review duration. The growth was majorly owing to the growth in the
international trade volumes, market entry of the international companies,
increasing the e-commerce market and building new manufacturing units and
industries in Nigeria in order to create the
region self-reliant. Not only has this, but the sustained efforts have
also been taken by the government along with the Chinese legal
authorities for improving the free trade zones locations and industrial parks
in the region. Foremost investment by the foreign corporates has fueled the
overall warehousing market in the region. Therefore, it is
anticipated that in the coming years, the markets across Nigeria will
increase more positively over the coming years.
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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