THE Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has projected the growth of the logistics industry to over $3 trillion in the next five years.
Speaking yesterday at the official opening of the international headquarters of a logistics firm – Zenith Carex, in Abuja, which coincided with the 51st birthday anniversary of its Managing Director/Chief Executive Officer, Dr. Adelana Olamilekan, the minister said that the industry’s significant growth, particularly in Africa, where intercontinental trade is set to flourish under the African Continental Free Trade Area Act (AfCFTA), cannot be over-emphasized.
The Minister, who was elated that the logistics sector has grown steadily at an average annual rate of about 8.5 percent in the country over the past five years due to an increase in e-commerce, manufacturing, agricultural businesses, and increased participation in regional trade, commended Olamilekan for his contributions toward the growth of the industry.
Represented by the Executive Director/Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Nonye Ayeni, Minister Oduwole described logistics as one of Nigeria’s fastest-growing industries, whose vital role in shaping the private sector’s businesses cannot be undermined.
She said: “Across the field of today’s economy, the role of logistics in terms of trade facilitation and economic diversification will not be more timely. As we collectively navigate complex domestic and global trade environments, the efficiency of our logistics system has become central to achieving our broader national goals.
“From food security to the urgent responsibility of integration and inclusiveness in a country of over 200 million people spread across vast terrain and diverse geographies, logistics determine access and affordability globally.
“Logistics have evolved from a back-end support function into a strategic enabler for growth. In Nigeria, the sector is one of the fastest-growing, driven by rising consumer demand, expanding telecoms, and the emergence of technology-driven supply chain solutions. Globally, the logistics industry is valued at over \$9 trillion.”
Recalling the COVID-19 pandemic period, when Nigeria’s fragmented coastal infrastructure highlighted the need for robust, decentralized logistics hubs, the Minister noted that facilities such as Zenith Carex directly addressed the gap by improving storage capacity for temperature-sensitive goods, vaccines, and agricultural goods.
She, however, stressed the need for Nigeria to tackle structural challenges, the high cost of trade, infrastructural deficits, fragmented regulatory frameworks, and limited multimodal connectivity.
“These challenges impose significant costs on businesses and diminish our productivity. The future of logistics will be digital, green, and inclusive.
“Transforming Nigeria’s logistics sector is not the job of the government alone. It requires the shared vision, investment, and collaboration of all stakeholders, public and private, local and global,” she said.
In his remarks, the CEO of Zenith Carex, Dr. Olamilekan Adelana, was grateful to God for translating his one-time dream into reality.
For him, the journey was that of a quiet, persistent belief that service, excellence, and integrity could build something meaningful. He added that Zenith Carex “is not just a company but a community.”
With over 80 branches nationwide in the last 22 years of establishment, the company prides itself as one of the major names in the logistics industry.
