Nigeria’s logistics sector is projected to surpass $3 trillion in growth by 2030, contributing to the global logistics industry, which is expected to reach a total value of over $9 trillion. This projection was made by Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, during the inauguration of the international headquarters of Zenith Carex, a leading logistics firm, in Abuja. The event also marked the 51st birthday of Zenith Carex’s Managing Director/CEO, Dr. Adelana Olamilekan.
Dr. Oduwole emphasized the importance of the logistics industry’s expansion, particularly in Africa, where intercontinental trade is poised to flourish under the African Continental Free Trade Area (AfCFTA). She highlighted that the logistics sector in Nigeria has experienced steady growth, averaging an annual rate of 8.5% over the last five years. This growth has been fueled by the rise in e-commerce, manufacturing, agricultural activities, and greater participation in regional trade.
Represented by the Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, Dr. Oduwole described logistics as one of Nigeria’s fastest-growing sectors, crucial to shaping the nation’s private sector businesses. She said, “The role of logistics in facilitating trade and supporting economic diversification has never been more significant. As we navigate complex trade environments, the efficiency of our logistics system is central to achieving Nigeria’s broader national objectives.”
She further noted that logistics plays a key role in food security, integration, and inclusivity in a country with over 200 million people and diverse geographies. With the sector rapidly evolving from a back-end function to a strategic enabler, the logistics industry in Nigeria is being driven by rising consumer demand, expanding telecoms, and technology-driven supply chain solutions. On a global scale, the logistics industry is valued at more than $9 trillion.
Dr. Oduwole also pointed out that companies like Zenith Carex are addressing critical infrastructure gaps by enhancing storage capacity for temperature-sensitive goods, such as vaccines and agricultural products.
However, she emphasized the need for Nigeria to tackle persistent structural challenges, including the high cost of trade, inadequate infrastructure, fragmented regulatory frameworks, and limited multimodal connectivity. “These challenges result in higher costs for businesses and hinder productivity,” she noted. “The future of logistics will be digital, green, and inclusive. Transforming Nigeria’s logistics sector requires a collective vision, investment, and collaboration among all stakeholders—public, private, local, and global.”
In his address, Zenith Carex’s CEO, Dr. Olamilekan Adelana, expressed confidence in the potential for service excellence and integrity to build a meaningful impact. He stated that Zenith Carex is “not just a company but a community.” Founded 22 years ago, Zenith Carex has grown to become one of the largest logistics firms in Nigeria, with over 80 branches nationwide, solidifying its place as a major player in the logistics industry.
