Transporting Goods Domestically In Nigeria Costs 5 Times More Than The US — World Bank

World Bank: Fuel Scarcity May Cost Nigeria N4trn In 2022

The World Bank has stated that moving goods locally in Nigeria costs more than in the United States of America, noting that the cost of moving goods (per unit distance) domestically in Nigeria is about 5.3 times more than in the United States of America.

This was contained in the World Bank’s recently published report on Global Facility to Decarbonise Transport.

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The report states that cutting the cost of moving goods through enhancing the effectiveness of transport networks and services is vital to reviving global trade.

The report stated in part, “Despite the increased globalization of production and trade, the world today is still far from being a single integrated economy. Landlocked developing countries, accounting for about one-fifth of the world’s nations, face higher transport costs than coastal countries.”

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Victor Okeh is a graduate of Economics from Lagos State University. He is versatile in reporting business and economy, politics and finance, and entrepreneurship articles. He can be reached via – [email protected]

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