Market Size of nigeria courier, express, and parcel (cep) Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 119.69 Million |
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Market Size (2030) | USD 186.81 Million |
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Largest Share by Destination | Domestic |
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CAGR (2024 - 2030) | 7.70 % |
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Fastest Growing by Destination | International |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Nigeria Courier, Express, and Parcel (CEP) Market Analysis
The Nigeria Courier, Express, and Parcel (CEP) Market size is estimated at 119.69 million USD in 2024, and is expected to reach 186.81 million USD by 2030, growing at a CAGR of 7.70% during the forecast period (2024-2030).
119.69 Million
Market Size in 2024 (USD)
186.81 Million
Market Size in 2030 (USD)
6.31 %
CAGR (2017-2023)
7.70 %
CAGR (2024-2030)
Fastest Growing Market by Speed of Delivery
8.69 %
Projected CAGR, Express, 2024-2030
The demand for same-day and next-day deliveries for which new services are being launched is significantly contributing to the growth of the express delivery market.
Fastest Growing Market by Model
10.01 %
Projected CAGR, Business-to-Consumer (B2C), 2024-2030
E-commerce is a significant facilitator for B2C transactions generating delivery demand, wherein mobile shopping dominates online shopping activities and is a major driver.
Largest Market by Shipment Weight
55.55 %
value share, Light Weight Shipments, 2023
Online orders for the delivery of personal care products, groceries, and FMCG goods are driving the segment's growth.
Largest Market by End User Industry
39.45 %
value share, Manufacturing, 2023
Growth in Nigeria's pharmaceutical manufacturing industry is expected to generate the need for cold-chain and specialized delivery services.
First Leading Market Player
15.25 %
market share, Red Star Express, 2022
Red Star Express has a fleet of over 700 vehicles operating within Nigeria. Also, the company supports delivery to more than 1500 communities in Nigeria.
The CEP market is witnessing steady growth due to increasing demand and sectoral advancements
- The CEP value is expected to record a CAGR of 7.99% from 2023 to 2029. In Nigeria, self-service lockers are being implemented to handle domestic and international parcel deliveries. Registered individuals and companies can use SmartParcel to drop parcels and paperwork at a local smart locker run by a company franchisee. SmartParcel's delivery partners then deliver the items to a locker close to the receiver or any locker the consignee requests. The items can also be delivered directly to the recipients' residences or places of business by courier partners. As part of this plan, SmartParcel signed an agreement with the Nigerian Postal Service to install smart lockers in post offices across Nigeria's 774 local government areas in 2022. The aim is to set up 10,000 lockers via a franchise model wherein users and corporate entities can own lockers and monitor activities from a dashboard.
- The freight and logistics market developed rapidly during the review period, led by the growing volumes of CEPs. As of 2022, Kobo360, a logistics company in Nigeria (Lagos) launched in 2016, had the highest number of employees compared to other logistics companies in the country. The company has over 260 workers, followed by Eden Life and Sendbox, with 86 and 68 employees, respectively.
- In 2021, Nigerian Postal Services generated NGN 3.63 billion (USD 4 million). EMS-SpeedPost generated the highest income of NGN 1.27 billion (USD 1.7 million), accounting for 35.14% of the total revenue generated for the year. The volume of CEPs in the country is projected to rise due to growing e-commerce, which is expected to reach about USD 10.11 billion by 2027.
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Understand The Key Trends Shaping This Market
