Nigeria Ranks Low in World Bank’s Trade Logistics Performance Index

The World Bank in the latest trade logistic performance index ranking released has categorized Nigeria among the lowest ranking countries with 2.63 score.

Nigeria was ranked the 90th position among the 160 countries watched while Germany is the top performer for the third time and Syria ranked lowest.

World Bank noted that progress in logistics performance has slowed for the first time since 2007 for the world’s least developed economies, while emerging economies that implement comprehensive initiatives continue to improve their performance.

Senior Director for the World Bank Group’s Trade and Competitiveness Global Practice, Anabel Gonzalez, said: “Logistics performance both in international trade and domestically is central to countries’ economic growth and competitiveness.

“Efficient logistics connects people and firms to markets and opportunities, and helps achieve higher levels of productivity and welfare. Unfortunately, the logistics performance gap between rich and poor countries continues and the convergence trend experienced between 2007 and 2014 has reversed for the least performing countries,” he said.

However, countries like Kenya, India and China, all improved their previous performance according to the report, which is based on survey data from more than 1,200 logistics professionals.

The report ranks countries on a number of dimensions of supply chain performance, including infrastructure, quality of service, shipment reliability, and border clearance efficiency.

The World Bank emphasized the need for the logistics industry and the public sector to address major challenges such as raising skills and competency levels, and adapting to slower trade growth.

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By 9jatravel / Administrator, bbp_keymaster

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on Jun 30, 2016

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