According to the World Bank Logistics Performance Index (LPI), Nigeria is currently ranked 88th out of 141 nations, suggesting a little increase from its 2022 ranking of 91st in global logistics.
The LPI is an interactive benchmarking tool designed to assist nations in identifying trade logistics possibilities and difficulties, as well as actions they can take to enhance their performance.
A country’s logistics services sector’s efficacy and efficiency are evaluated using the World Bank LPI as well. The index assesses a number of logistics performance factors, such as infrastructure, border and customs management, shipping arrangement convenience, logistics service quality, consignment monitoring and tracing, and delivery timeliness.
The top 12 countries with high incomes on the 2023 LPI are wealthy ones. With a score of 4.3, Singapore has reclaimed its top spot, which it previously occupied in 2007 and 2012.
Europe accounts for eight of the top 12 scorers: Austria, Belgium, Germany, the Netherlands, Switzerland (4.1), Finland (4.2), and Sweden (4.0). There are also Hong Kong SAR, China, Canada, and the United Arab Emirates. The bulk of these economies have dominated global supply chain networks for a long time.
The countries that make up the bottom 10 performers are mostly lower-middle-income countries, dispersed across multiple continents.
They are either landlocked countries that struggle to link to global supply networks because of economies of scale or geographic isolation, or they have fragile economies that are affected by armed conflict, natural disasters, or political unrest.
Despite the fact that low performers’ average scores have increased, the ranks of numerous countries have not changed.
People who have serious logistical challenges are frequently individuals who do poorly in terms of logistics.
The importance of resilience and dependability for the efficiency of logistics is emphasised in the World Bank report. Economic growth is greatly influenced by international trade, and logistics are the foundation of commerce.
According to Vanguard reports, Nigeria received a score of 2.6 on the Customs Score and 1.9 on the Logistics Performance Score out of a possible 5.0 total.
Nigeria received a score of 2.4 for infrastructure, compared to a score of 2.4 for international shipping. The grade for logistics competence was 2.5, compared to 2.3 for tracking and tracing. Nigeria received a timeliness score of 2.7.
