Effective logistics is key to AfCFTA—-Otunba Akomolafe

“The importance of the logistics industry cannot be overemphasized since it is a very vital factor in all aspects of national development. As long as there is a need to receive, assemble, transfer and distribute goods and services from one place to the other, the place of transport and logistics will always be preserved. Millions of people and goods worth billions are moved by road, rail, air and water throughout the world and the safety and efficient movement of same are the concern of every stakeholder.”

The above was  part of the welcome address by  the National President, Nigerian-American Chamber of Commerce, NACC, Otunba Toyin Akomolafe  at the Chamber’s November 2019 breakfast meeting themed: “the Nigeria Logistics Industry: Current Trends and Persisting Challenges” which  held at Lagos Continental Hotel, Victoria Island. Akomolafe  admonished government relevant agencies and other critical stakeholders in the private sector to roll up their sleeves for  sustainable solutions to the challenges bedeviling the logistics sector.

For an industry with Annual Growth rate of 19.5 percent according to Q1, 2019 National Bureau of Statistics report and estimated Global logistics value of $357.5 billion by 2022, Akomolafe  emphasized the auspiciousness of the breakfast deliberations saying “In the light of the recently signed African Continental Free Trade Agreement (AFCTA), and the significant opportunities it presents in various sectors, especially for SMEs, it is paramount that we revolutionise our logistics sector, which is a huge obstacle to trade, to maximize the benefits of the AFCTA. A stronger logistics sector could catalyse economic growth, slash prices of goods and services and enable Nigeria to evolve into West Africa’s key trade hub, if not the leading intra-African trading hub,”

In concurrence with Akomolafe’s submission, the guest speaker, Dr. Olusola Obabori,  Group Chief Executive Officer,  RedStar Express Plc, a global leading courier and package delivery company, reputed for accurate, real time and secured deliveries, explained the company’s commitment to “ better customers experience” in view of  a better logistics service in the emerging Africa’s single economy.

He enumerated the company’s unassailable strength in Real time transportation and shipping tracking. On its part,  the Director General, Nigerian Maritime Administration and Safety Agency,NIMASA, Dr. Dakuku Peterside stated that government, under President Buhari,  is addressing  security challenges associated with maritime operations  through the deployment of modern technology including internal and external multi agencies collaborations.

The DG whose paper was presented by Bernard Awusa said “Nigerian Maritime domain also falls under the role of the Agency, in accordance with its cardinal objectives. This role is accomplished through its maritime security infrastructure called the Integrated National Maritime Surveillance and Security Project other wise known as the Deep Blue Project,” he stated adding that “The role NIMASA plays in optimizing safety in the Maritime Logistics Industry is vital to the protection and safety of the Maritime Environment. With the port and flag state inspections leading to a reduction in the risk of oil spillage and pollution of our waters, and with the proper implementation and enforcement of SOLAS 1974 and ISPS Code having led to the proper handling of cargo, port equipment and increased security at the ports.”

He added that “We still have a long road ahead of us to be a benchmark for global safety and security practices, and with the milestones we have achieved we know that we are on the right track.” The single window security architecture, he stated, will completely minimize security challenges.