CRFFN, Fortune Global sign MoU to enhance Nigeria’s logistics standards

… New advisory body to give industry captains seat at the regulatory table

Nigeria’s freight forwarding regulator, on Wednesday in Lagos, signed a Memorandum of Understanding with Fortune Global Shipping and Logistics Limited to establish the Logistics CEOs Forum, an advisory body that will embed industry executives directly into the country’s regulatory policymaking process.

Kingsley Igwe, registar of the Council for Regulation of Freight Forwarding in Nigeria (CRFFN), said the forum, to be inaugurated by the Minister of Marine and Blue Economy, will sit as a “think tank” to his office and advise on proposed regulations including licensing, input on global best practices, identify barriers to trade, and contribute to research and development of a long-term national logistics strategy.

Fortune Global Shipping, which operates across several African countries including Ghana, Benin and Kenya, will help spearhead the initiative, which was conceived in September 2025.

Forum members will be drawn from the CEOs of reputable logistics and freight forwarding organisations. Igwe said the group will be constituted within the next four weeks.

“The CEOs are the ones who move these goods across borders. They know what they face, they know the bottlenecks. That experience is what they are bringing to advise the Council,” said Eric Opah, ceo of Fortune Global.

The MoU also covers joint training programmes, curriculum development and professional certification. Igwe said it plans to train between 500 and 1,000 practitioners annually to improve service quality and compliance under the African Continental Free Trade Agreement (AfCFTA).

“This industry is the most difficult place to find talent and professionals,” Opah said. “Nigeria is the only country you can buy a truck today and you put it on the road tomorrow. We cannot continue like this,” he said.

The MoU’s training agenda directly targets this, with both parties committed to raising the floor of qualification and eliminating what they called “short of requirement” service provision.

Both parties also said the partnership would push for better access to capital for indigenous logistics firms, arguing that foreign-owned operators dominate the sector, leading to significant capital flight.

Igwe said Nigeria loses between $6 billion and $9 billion annually as profits from logistics operations are repatriated abroad, adding that government-backed financing similar to the Cabotage Vessel Financing Fund is being considered for freight forwarders.

He said operating a single haulage truck now costs up to N250 million, making it difficult for local firms to scale without structured funding.

“If we empower our local operators, the economy will depend on logistics as much as it depends on oil,” Opah said.

CRFFN will introduce performance benchmarks and timelines for the MoU, alongside stronger compliance measures, including a proposed bond system to protect logistics operators from persistent payment defaults by cargo owners.

The Council was established in 2007 as the statutory body for regulating and professionalising freight forwarding in Nigeria. The MoU has been described by both parties as the most significant partnership in its history.

“I feel like I’m not alone anymore,” said Igwe.