Nigeria—The World Logistics Passports make it easier for countries in Asia, Africa, South, and Central America to divert trade-in existing products, increase market shares in key products, and create trading partnerships.
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 largest economy in Africa, with a vibrant and diverse industrial base and rapidly expanding regional and global trade interests. In 2019, product exports totaled $63bn with trade accounting for 25% of GDP2.
With access to the WLP network, Nigerian traders will have the opportunity to enhance the connectivity efficiency of their cargo operation. This in turn will open up trade routes allowing for faster, cheaper access to new markets particularly in Asia, Latin America, and across Africa.
“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, principally by making a country’s products more competitive through more efficient supply chains.
“For Nigerian traders, this means discovering new opportunists through our network across the Africa continent and beyond.” Spoke Sultan Ahmed bin Sulayem, Group CEO of DP World
Nigeria has joined WLP alongside other African nations including South Africa, Senegal, Morocco, Kenya, Ethiopia, Botswana, Zimbabwe, Mozambique, Burkina Faso, and Guinea.
H.E Rotimi Amaechi, Nigeria’s minister of transportation said, “Joining the WLP is about bolstering global trade opportunists for Nigerian businesses and accelerating Nigeria’s already fast-paced growth. The WLP will help deliver this by providing benefits to business such as priority handling and faster clearance help to reduce supply chain costs and increase trade volumes.”
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.