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Nigeria Ranks 88th In World Bank Logistics Performance Index




Nigeria Ranks 88th In World Bank Logistics Performance Index

Nigeria currently holds the 88th spot among 141 countries in the World Bank Logistics Performance Index (LPI), slightly improving from its 91st position in the previous year.

The LPI serves as an interactive tool for benchmarking, designed to assist nations in identifying their trade logistics challenges and opportunities, as well as strategies for enhancement.

This index is also utilized to evaluate the efficiency and effectiveness of a country’s logistics sector.

It assesses various aspects of logistics performance, including infrastructure, customs and border management, the ease of arranging shipments, the quality of logistics services, the tracking and tracing of goods, and the timeliness of deliveries.

The top 12 countries in the 2023 LPI are among the wealthiest nations. Singapore, achieving a score of 4.3, secures the first position, which it has maintained since 2007 and 2012.

Among the top 12, Finland (4.2), Denmark, the Netherlands, Switzerland (4.1), Austria, Belgium, Germany, and Sweden (4.0) are from Europe. Additionally, Canada, the United Arab Emirates, and Hong Kong SAR, China, are represented. For many years, these economies have dominated the global supply chain network.

Conversely, the bottom ten countries are distributed across various regions and are predominantly lower-middle-income countries.

They face challenges due to fragile economies affected by armed conflict, natural disasters, or political instability, or they are landlocked countries struggling to connect to global supply chains due to geographical or economic constraints.

Despite an increase in the average scores of these low-performing countries, many remain unchanged in their rankings. Nations with severe logistics limitations often need to improve in logistics performance.

Naija News reports that the World Bank’s latest publication highlights the essential importance of dependability and robustness in the efficiency of supply chain management.

Global commerce is a key factor in boosting economic development, and supply chain management is the foundation of this commerce.

In terms of the Logistics Performance Index, Nigeria scored 1.9 out of a possible 5.0, and in the Customs Performance Index, it scored 2.6.

Regarding Infrastructure, Nigeria scored 2.4, which is the same as the score for International Shipping.

For Logistics Expertise, it scored 2.5, matching the score for Tracking and Tracing. In terms of Timely Delivery, Nigeria scored 2.7.

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