• Wednesday, November 29, 2023
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Logistics Sector foresees huge potential in new power, infrastructure investments


Stakeholders in the nation’s logistics and supply chain industry are optimistic of increased business activity with growing investment in power and infrastructure development across the country. They believe that the sector has a major role to play in driving economic activities, and must not be ignored if the nation must continue on the path of development.

The stakeholders observed that the sector has huge potential for job creation with increasing road infrastructure, particularly in railways as they converged at the Annual Induction Ceremony of the Institute of Logistics Management (ILMN), where 11 people were decorated with fellowship awards and another 34 with membership awards.

Ibukun Akinduro, chairman, Board of Trustees, ILMN said in his opening remark, that with predictions that Nigeria would overtake south Africa to become Africa’s largest economy in five years, suggest that the Logistics industry must be carried along because that is one of the major strengths of the South African economy.

“We can only do this with a strong logistics industry,” Kayode Opeifa, commissioner for transport, Lagos State, who was one of the honorary awardees said.

“There are a lot of challenges in the management of the movement of goods and services. We cannot continue to move all goods by road and have to devise other efficient means of transportation.”

Solomon Aigbavboa, managing director, MDS Logistics, said the potential of the logistics sector is very enormous. “From growing economic activities, the logistics industry will form the backbone that will move the economy forward”. He said at the Institute level, a lot of efforts were being made to deepen collaboration among members, so that it would be easier to present a common front to government or partner on public private sector initiatives.

The institute believes that the globalisation of markets and the internationalisation of trade are forcing companies to rethink their research and development, as well as their production and distribution structures, thus leading companies to seek highly qualified professionals to manage their logistics and supply chains.