Market Size of nigeria freight and logistics Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 10.2 Billion |
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Market Size (2030) | USD 15.05 Billion |
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Largest Share by Logistics Function | Freight Transport |
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CAGR (2024 - 2030) | 6.70 % |
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Fastest Growing by Logistics Function | Courier, Express, and Parcel (CEP) |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Nigeria Freight and Logistics Market Analysis
The Nigeria Freight and Logistics Market size is estimated at 10.2 billion USD in 2024, and is expected to reach 15.05 billion USD by 2030, growing at a CAGR of 6.70% during the forecast period (2024-2030).
10.2 Billion
Market Size in 2024 (USD)
15.05 Billion
Market Size in 2030 (USD)
5.50 %
CAGR (2017-2023)
6.70 %
CAGR (2024-2030)
Fastest Growing Market by Mode of Transport
7.35 %
Projected CAGR, Sea and Inland Waterways, 2024-2030
Nigeria has significant and diverse marine resources, with a coastline of 852 kilometers bordering the Atlantic Ocean in the Gulf of Guinea and a maritime area of 46,000 km.
Largest CEP Market by Destination
64.58 %
value share, Domestic, 2023
The domestic segment witnessed growth fueled by the e-commerce industry growth. The e-commerce industry is expected to grow with a CAGR of 10.79% during the period 2023-2027.
Largest Market by End User Industry
39.02 %
value share, Manufacturing, 2023
The manufacturing end-user segment experienced growth in 2023 supported by the rise in the manufacturing industry. Investments in Nigeria’s production sector rose by 67% in 2023.
Largest Warehousing Market by Temperature Control
91.55 %
value share, Non-Temperature Controlled, 2023
The key growth drivers of the non-temperature-controlled warehousing sector are the increasing investments in the industrial parks in export-promoting zones with the PPP framework.
Fastest Growing Warehousing Market by Temperature Control
6.43 %
Projected CAGR, Temperature Controlled, 2024-2030
The pharmaceutical sector is one of the factors driving demand for the cold storage market. The OTC pharmaceuticals market is expected to grow at a CAGR of 12.46% from 2024 to 2028.
Gradually improving sector demand witnessed owing to marginal reduction in logistics costs
- As of March 2023, the Nigerian government is enhancing the country's air cargo competitiveness by establishing specialized committees comprising representatives from both public and private sectors. These committees are tasked with the construction and operation of airports equipped with modern cargo infrastructure. Overall, the various shortcomings in Nigeria's air cargo value chain could potentially disadvantage the country in the African Continental Free Trade Area (AfCFTA), an emerging free trade market in Africa. Overall, NGN 1.5 trillion (USD 5 billion) is required to fix the country's air infrastructure.
- The freight and logistics market has been developing rapidly from 2017 to 2021, and it is led by the volume of the courier, express, and parcel market. As of 2022, as a comparison among logistics startups in Nigeria, 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 business counted over 260 workers, followed by Eden Life and Sendbox, with 86 and 68 employees, respectively.
- Nigeria has the largest road network in West Africa and the second largest south of the Sahara, totaling about 194,200 km. Federal roads make up 17.6%, state roads 15.7%, and local and rural roads 66.7% of this network. The Nigerian National Petroleum Company intends to invest USD 4.1 billion in reconstructing 44 highways, which will cover 4,500 km of federal highways. Furthermore, the Federal Executive Council has approved 25-year concessions on nine corridors that connect vital population and economic centers.
Understand The Key Trends Shaping This Market
