The Nigeria’s transport, logistics and supply chain sector is currently valued at over $2. 3 billion based on the robust economic policy of the President Bola Ahmed Tinubu led administration, it was learnt.

The sector, under President Tinubu, experts in the logistics market said, has witnessed substantial growth, driven by enhanced transportation infrastructure, expansion of e-commerce and improved cross-border trade relationships.

The market, according to a transport expert, Dr Ganiyu Olaogun, “I have s currently valued at over $2. 3 billion

“As of December 2024, Nigeria’s logistics and supply chain market was valued at $2 billion. Between that period and now, the value has jumped to over $2. 3 billion with expectations of reaching $3 billion by 2029, growing at a compound annual rate of around 4 per cent,” he said.

This growth, Olaogun who is also a university don, pointed out, has accelerated as investments in rail and port infrastructures help in overcoming previous transport and logistical challenges, “while digital innovations and logistics applications streamline delivery networks.”

The rise of prominent logistics companies such as A.P. Moller-Maersk, JOF Nigeria Limited, and GIG Logistics, findings have shown, highlights the industry’s dynamism and gradual improvement in efficiency and service range.

According to another expert, Mr John Nweke, “The combination of steady market growth, technological adoption, and gradual improvement in trade policies under the Tinubu Administration, “indicates a promising future for Nigeria’s logistics sector, albeit one that requires further infrastructure and regulatory support to boost the nation’s economy.”

Previous challenges, he said, like “widespread infrastructure deficit, flawed government policies, and high operational costs, many companies considering entering the sector often struggle with cumbersome Customs processes and poor road conditions.

These issues, Nweke added, “have pushed Nigeria to 88th place on the World Bank’s Logistics Performance Index. Addressing these barriers requires significant infrastructure investments and improved government policies to sustain growth. Poor road networks, unreliable electricity, and outdated seaport and Customs systems severely hinder logistics and supply chain efficiency.”

The Lagos Chamber of Commerce and Industry (LCCI) said, these inefficiencies cost Nigeria several billions of naira annually, including billion in corporate earnings lost by companies reliant on poor road infrastructure and logistics costs before the advent of this administration.