Transport inefficiencies raising prices of goods — NRC
The Nigerian Railway Corporation warns that transport inefficiencies are raising prices of goods due to high logistics costs, congestion, and delays. Read More: https://punchng.com/transport-inefficiencies-raising-prices-of-goods-nrc/
The Nigerian Railway Corporation has warned that inefficiencies in Nigeria's transportation network are causing rising prices for goods and services. Dr. Kayode Opeifa, the corporation's Managing Director, made this statement at the BusinessDay Mobility and Logistics Conference in Lagos. He cited poor connectivity between transportation systems as a major hurdle to economic productivity and competitiveness.
Opeifa emphasized that rail transportation plays a crucial role in building an efficient national transport network and suggested integrating rail, road, maritime, and air transportation to reduce costs and improve competitiveness. The NRC aims to expand its rail network from about 4,000 kilometers to 10,000 kilometers within five years, and ultimately to 20,000 kilometers in the long term.
This expansion includes restoring dormant railway corridors, enhancing existing infrastructure, and attracting private investment. The corporation also plans to connect Kano-Maradi railway and establish a link between Warri-Itakpe line and Abuja, as well as the Marina-Lekki railway, Kaduna-Kano inter-state train services and Kano State's intra-state rail network.
Dr. Obiora Madu, Director-General of the Africa Centre for Supply Chain, estimated that Nigeria loses over N3.6 trillion to inefficiencies and distortions in its transportation and logistics sector.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
