“On the back of new manufacturing industries and improving foreign trade ties, the warehousing sector in Nigeria experienced high growth in 2018.”
Analysts at Ken Research in their the latest publication “Nigeria Warehousing Market Outlook to 2023 – By Operational Model, Open and Closed, End Users, Regulated and Unregulated, Regions, Integrated and Contract Warehouses” believe that the warehousing market in Nigeria is expected to grow due to government spending, Industrial parks, International trade, strict regulations by NAFDAC and adaptation to new technology.
Strategic Location: Nigeria is the world’s gateway to West Africa and Lagos is one of the most vibrant international trading hubs in Nigeria. Most of the sea transportation is done by two seaports in Lagos namely Lagos Port Complex and Tin can Port. A new Deep Sea Port in Lekki and Trans-African Highway is being constructed, which is expected to further open up Nigeria to international trade. Also, Airport connectivity is great with major foreign countries with MMI Airport in Lagos as the busiest one involved in cargo transportation.
Focus on Manufacturing Sector: Nigeria is focusing on making the country self-dependent. Nigeria Automotive Industry Development Plan has been initiated to ignite the automobile manufacturing units in the country. Food and Beverages and agro-processing industries are opening due to the products that have been banned from importing (41 Products). Manufacturing and Agriculture related industries are given the benefits by the issuance of single-digit interest rate loans to firms, thereby increasing the number of manufacturing and agri related industries.
Infrastructure Development: An investment of NGN 200 Billion has been made in constructing new seaports and airport infrastructure in the past 10 years. Abuja-Kaduna SGR has been completed to facilitate cargo and passenger movement. This is facilitating trade and the need for more warehousing space in the country.
E-commerce Sector and Retail Outlets:
Big E-commerce giants such as Konga and Jumia have contributed to the retail demand for products and increase the revenue of the warehousing sector. Konga has recently launched two mega warehouses in Abuja and Port Harcourt. The growing middle-class population in Nigeria has increased the demand for packed food items, clothing items, electronics, gadgets, and many more products. This has increased the number of retail stores and supermarkets that require warehousing space to manage their seasonal goods and additional stock. Traditional store retailers such as Next Cash and Mr. Price have opened e-stores to boost sales.
Key Segments Covered:-
Nigeria Warehousing Market
Revenue by Business Model
Cold storage and Agriculture
Revenue by Region
Revenue by Type of Warehouses
Revenue by Contract and Integrated warehouses
Revenue by End User
Food and Beverages
Others (Agricultural products and other perishable commodities)
Revenue by Market Structure
Bollore Transport and Logistics
UPS (United Postal Services)
Key Target Audience
Real estate companies
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023E
Key Topics Covered in the Report:-
Nigeria Warehousing Market Overview
Nigeria Warehousing Market Size
Nigeria Warehousing Market Segmentation
Competitive Scenario in Nigeria Warehousing Market
Company Profiles of Major Players in Nigeria Warehousing Market
Nigeria Warehousing Market Future Outlook and Projections
Nigeria Warehousing Future Market Size
Nigeria Warehousing Market Future Segmentation
Analyst Recommendations on Nigeria Warehousing Market
For More Information, Refer To Below Link:-
Related Reports by Ken Research:-
Kenya Logistics and Warehousing Market Outlook To 2023 – By Sea, Land, Pipeline, Air Freight Forwarding; International And Domestic Freight, Integrated And 3PL Freight Forwarding; By Warehousing (Industrial/ Retail, ICD/CFS, Cold Storage, Others), 3PL Warehousing, Type Of Warehouses; By Courier Express And Parcel Logistics And E-Commerce Logistics
Uganda Logistics and Warehousing Market Outlook To 2022/23 – By Rail, Land, Air Freight Forwarding; International And Domestic Freight, Integrated And Contract Logistics Freight Forwarding, By Warehousing (Industrial / Retail, Container Freight / Inland Container Depot And Cold Storage), By Courier And Parcel
Ankur Gupta, Head Marketing & Communications