December 4, 2022

Moving goods locally in Nigeria over 500% costlier than US –World Bank – Punch Newspapers

  • November 10, 2021
  • 1 min read
Moving goods locally in Nigeria over 500% costlier than US –World Bank – Punch Newspapers

Punch Newspapers © 1971-2020 The Punch newspaper
The World Bank says it costs more to move goods locally in Nigerian than in the United States of America, stating that the cost of moving goods (per unit distance) domestically in Nigeria is about 5.3 times higher than in the United States of America.
This disclosure was contained in the Global Facility to Decarbonise Transport report newly published by the World Bank.
According to the report, reducing the cost of moving goods through enhancing the effectiveness of transport networks and services is crucial to resuscitating global trade.
The report read in part, “Despite the increased globalisation 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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