‘How To Achieve Vision 2020’

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Redstar Express Plc’s Chief Executive Officer, Mr. Sule Bichi, has noted that logistics support services were pivotal to making Nigeria rank as one of the world’s top 20 economies by the year 2020.

Bichi informed that logistics support services contribute over 15 per cent of the global Gross Domestic Product (GDP), as reported by the World Bank. He added that the global third party logistics market (3PLs) in the United States of America alone was valued at over USD 130 billion in the year 2002.

He stressed that the logistics industry has the capacity to boost global economic development and will add huge value to the Nigerian economy if the enabling environment was created.

The Redstar boss said this during a presentation at the Nigerian-South African Chamber of Commerce breakfast forum recently in Lagos titled: The Role of Logistics in Global Development’.

Commenting on the impediments to the growth of logistics services in Nigeria, he identified weak infrastructural base; specifically poor road network and epileptic power supply.

He added that cumbersome import and export clearing procedures, port congestion, inefficient transportation systems and multiple taxes were also prevalent.

Bichi said that Redstar - a licensee of FedEx- the world’s biggest air transportation company -  has been improving in its service delivery to meet international standards and excellence.