Nigeria Freight Forwarding Market is Driven by Increasing Oil Exports, Infrastructural Investment, and Boost in Foreign Trade: Ken Research

Buy Now

“On the back of the new Standard Gauge Railway and improving foreign trade ties, the logistics sector in Nigeria experienced high growth in 2018.”

Analysts at Ken Research in their latest publication “Nigeria Freight Forwarding Market Outlook to 2023 – By Sea, Land, Air, Rail and Pipeline Freight Forwarding; International and Domestic Freight, Integrated and Contract Logistics Freight Forwarding” believe that the Freight Forwarding market has grown due to government spending on infrastructural projects, increasing volumes of imports and exports and geographical placement of Nigeria. The market is expected to grow at a CAGR of 15.4% during 2019-2023E.

Strategic Location: Nigeria is the world’s gateway to West Africa and Lagos is one of the most vibrant international trading hubs in Nigeria. Most of the sea transportation is done by two seaports in Lagos namely Lagos Port Complex and Tin can Port. A new Deep Sea Port in Lekki and Trans-African Highway is being constructed, which is expected to further open up Nigeria to international trade.  Also, Airport connectivity is great with major foreign countries with MMI Airport in Lagos as the busiest one involved in cargo transportation.

Focus on Manufacturing Sector: Nigeria is focusing on making the country self-dependent. Hence, Manufacturing and Agriculture related industries are increasing due to the benefits and issuance of single-digit interest rate loans to firms, thereby having a ripple effect on the logistics sector used to transport the goods manufactured.

Infrastructure Development: Improving infrastructure in the country happens to be a key growth driver for the logistics industry of the county. A combined of N200bn (USD 646.6 million) of investment in new port infrastructure in just 10 years has been made. Also, Abuja-Kaduna SGR has been completed to facilitate cargo and passenger movement. The willingness of international players to enter the market has made Nigeria step up their logistics infrastructure and spending.

Focus on International Trade: For an import oriented country like Nigeria, it is all the more crucial to participate in international initiatives towards trade relations. Nigeria has signed various trade agreements like ECOWAS, AGOA and AFCFTA. Therefore Nigeria has wide access to the entire African market as well as the Asian, European and North American markets for a number of goods.

Technological Advancement: While GPS and Control Towers are standard practices in logistics in developed countries, it is employed by only big domestic players and international companies in Nigeria. Supply chain visibility has become an increasing demand of clients and freight forwarders in Nigeria are also adopting new technologies such as ICT enabled vehicles, RFID Tags, Tracking solutions, among other such technologies.

Key Segments Covered:-

Nigeria Freight Forwarding Market

By Mode of Freight

Road Freight

Rail Freight (Volume and Revenue)

Air Freight (Airfreight in Nigeria (Volume- Imports and Exports of Cargo and Mail by Airports)

Sea Freight (Volume By Import –Export And Cargo Type, Logistic cost, Container Freight Rates, CARGO duty, General Cargo Delivery Charges, And Ship Dues)

By Type of Freight

International Freight Revenue

Domestic Freight Revenue

By Flow Corridors

Asian Countries

European Countries

Middle East

America

African Countries

By Contract and Integrated

Contract Logistics Revenue

Integrated Logistics Revenue

By End-User

Food and Beverages

Industrial and Retail

Automotive

Others (Chemical products, fertilizers, pharmaceutical products, perfumes etc)

Companies Covered:-

DHL

BHN Logistics

Bollore Logistics

ABC Transport

UPS (United Postal Services)

Redstar Logistics

Maersk Line

MSC (Mediterranean Shipping Company)

TSL Logistics

Key Target Audience

Freight Forwarding Companies

E-Commerce Logistics Companies

3PL Companies

Consultancy Companies

Express Delivery Logistics Companies

Time Period Captured in the Report:-

Historical Period – 2013-2018

Forecast Period – 2019-2023

Keywords:-

For More Information, Refer To Below Link:-

Nigeria Freight Forwarding Market Outlook

Related Reports by Ken Research:-

Kenya Freight Forwarding Market Outlook To 2023 - By Sea, Land, Air, Rail And Pipeline Freight; International And Domestic Freight, Integrated And Contract Logistics Freight Forwarding

 Uganda Freight Forwarding Market Outlook To 2023 - By Road, Rail And Air Freight; International And Domestic Freight, Integrated And Contract Freight And By End Users (Food And Beverages And Consumer Retail, Automotive, Healthcare And Others)

South Africa Logistics Market Outlook To 2023 - By Sea, Land, Air Freight Forwarding; International And Domestic Freight, Integrated And Contract Logistics Freight Forwarding; By Warehousing (Industrial/ Retail, ICD/CFS, Cold Storage, Others), 3PL Warehousing, Cold Chain; By Express Logistics And E-Commerce Logistics

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249