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As the global economy becomes increasingly interconnected, logistics has emerged as a critical sector for countries seeking to maximize their trade potential. Nigeria, with its abundant natural resources, large population, and strategic location, has all the ingredients to become a global logistics leader. However, to achieve this goal, the country must prioritize export promotion and create a seamless trade environment.
Michael Makinde, a logistics expert with over 25 years of experience, understands the potential of Nigeria’s logistics sector and has been working tirelessly to unlock it. Makinde has provided practical and effective strategies in the area of supply chain innovation, technology innovation, operations management and policy formulation that have enabled the sector on the local and global front. His conviction in the potential of Nigeria’s logistics sector was a key factor in his work as a member of the think-tank for the formulation and now the implementation of the African Continental Free Trade Agreement (AFCTA), a multilateral trade agreement between African countries aimed at enhancing cross-border trade, eliminating barriers to trade and deploying technology as a tool to accelerate intra-regional trade.
Makinde’s work at Frigoglass Industries Nigeria Limited, a leading manufacturer in commercial refrigeration and West Africa’s leading glass producer, has provided him with invaluable experience in global trade management compliance, inbound and outbound logistics, and cost-saving strategies. Under his leadership, Frigoglass Industries achieved 95% actual inbound delivery against forecast, 100% local distribution plan, excellent contact management and realized a 15% reduction in cost.
To achieve Nigeria’s full potential in the logistics sector, Makinde emphasizes the need for the government to prioritize trade and export promotion. Nigeria has a comparative advantage in trade, with abundant raw materials that can be exported as value-added products. However, to achieve seamless trade, the government must implement key strategies and reforms that can enhance export and a positive trade balance.
One strategy that can be employed is the development of export processing zones that offer tax incentives and streamlined export procedures. This would encourage the growth of export-oriented industries and boost Nigeria’s export potential. Additionally, the government can prioritize investment in critical infrastructure such as roads, railways, and ports to improve the movement of goods and reduce logistics costs.
Nigeria’s logistics sector has the potential to become a global leader, and with the right policies and strategies, this potential can be unlocked. Michael Makinde’s expertise in logistics and his commitment to export promotion makes him a valuable asset in Nigeria’s journey toward maximizing its trade potential. By prioritizing trade and implementing key reforms, Nigeria can achieve seamless trade and become a logistics powerhouse in Africa and the world.