E-Business
CLMI Urges FG to Prioritize Logistics and Transportation for Economic Growth
Federal Government has been urged to prioritize investment in Nigeria’s courier, logistics, transport, and management industry, valued at over N15 trillion.
Courier & Logistics Management Institute (CLMI
This call to action was highlighted at the Courier & Logistics Management Institute (CLMI’s) 2024 International Conference & Investiture event in Lagos, where industry experts and professionals gathered to address challenges and propose solutions for growth in this vital sector.
According to Dist. Prof. Simon Emeje, the executive chairman, Courier & Logistics Management Institute (CLMI), “The combined worth of Nigeria’s courier, logistics, transport, and management industry is staggering. Valued at no less than N15 trillion, this sector is crucial to Nigeria’s economic future.”
He cited research showing the market potential could be as high as N25 trillion.
Dist. Prof. Simon Emeje, the executive chairman, Courier & Logistics Management Institute (CLMI) speaking at CLMI 2024 International Conference and Investiture.
Prof. Emeje explained, “In many countries, this sector contributes approximately 7-8% to GDP. However, in Nigeria, its contribution currently stands at around 4%, revealing a substantial gap that, if addressed, could unleash transformative growth.”
He called on the Nigerian government to harness the resources within the sector, stressing that investment could unlock revenue streams contributing up to 60% of the annual national budget.
To underscore these points, industry experts at the event presented strategies such as logistical innovations and advanced transport management approaches, advocating that the sector should become a cornerstone of Nigeria’s economic agenda.
Following the CLMI’s offer to collaborate with the government at different levels to harness this potential through public-private partnerships, regulatory reforms, and targeted investment, Reverend Father (Dr.) Hyacinth Iormem Alia, the executive governor of Benue State, said the State has queued into the courier and transportation sector to better the worth of citizens.
The Governor, represented by Chief Aber Terseer Benjamin, the chief executive of FarmBasket Global Resources Limited, said “Benue Links Company holds greater economic opportunities for our dear State and our administration needed to act fast to rescue and reposition the Company that almost went comatose to its current status.
Chief Aber Terseer Benjamin, representing Reverend Father (Dr.) Hyacinth Iormem Alia, the executive governor of Benue State
“We purchased one hundred buses with support from the Federal Government and handed them over to Benue Links Limited to provide affordable means of transportation for our people.
“The procurement of these Buses was to cushion effects of the transportation challenge that was occasioned by the removal of fuel subsidy by the Federal Government. Not quite long, our administration repaired some of the Marco Polo Buses of Benue Links that laed dormant for many years for an intercity movement.
“Passengers are being transported from one point of Makurdi town, worth almost four kilometres, to another destination just for two hundred naira only. Our people are very happy with this modest effort too.
“Benue Links Limited has also commenced the lifting of goods from Lagos to other parts of the country using high profile Trucks that have been positioned in Lagos specifically for this task. The rates offered by Benue Links in providing this service are more-friendly as compared to other Companies offering similar service”.
He extended partnership handshake to CLMI to liaise with the management of Benue Links Company on how best they could synergise to enhance the transportation system in the country.
CLMI Fellows
In his keynote address, Dr. Sam Ohuabunwa, Chairman of the Africa Economic Summit, emphasized logistics as an essential tool for Nigeria’s economic transformation. Speaking on the theme, “Unlocking Economic Potentials and Fostering Nation-building through Logistics Instruments,” he explained, “Logistics is the process of planning and executing efficient transportation and storage of goods. It’s fundamental to economic growth, acting as a bridge to meet consumer needs in a cost-effective and timely manner.”
Barr Adebayo Shittu, fmr. Minister of communications, also Patron of the Institute.
Dr. Ohuabunwa also called for strategic investment in infrastructure, energy, and broadband technology. “Robust infrastructure can reduce production costs, increase global competitiveness, and stimulate industrial growth,” he said.
He stressed the need for better access to credit at single-digit interest rates to enable growth in agriculture and small businesses.
Dr. Ohuabunwa noted that despite Nigeria’s abundant resources, the country’s economy is hampered by insufficient infrastructure, underdeveloped industrial capacity, and over-reliance on imports.
He encouraged a return to productivity-driven economic planning, proposing government investment in essential infrastructure to stabilize the economy, improve foreign reserves, and strengthen the Naira.
Dr Olusola Obadimu, director general, Nigerian Association of Chamber of Commerce, Indistry, Mines and Agriculture [NACCIMA]
Also speaking at the event, Dr. Oluwasegun Musa, CEO of Widescope International Logistics, stressed the need for modernization and policy reform within Nigeria’s logistics sector.
He noted that Nigeria’s logistics infrastructure is still in its infancy and lacks support to drive economic advancement. Dr. Musa advocated for comprehensive policy frameworks and infrastructure investment, stating, “Nigeria should not operate in the ‘Stone Age’ of logistics. We need robust infrastructure and advanced technologies, such as drones, to compete globally.”
According to Dr. Musa, logistics is “the motive force behind every economy,” and a strong logistics framework is essential for sustainable growth. He urged the government to prioritize the logistics sector and implement policies that would transform it into a true driver of economic development.
All the speakers highlighted the importance of strategic investments and infrastructure development to unlock Nigeria’s full economic potential.
Their recommendations included increasing public-private collaborations, placing industry experts in key positions, and adopting policies that support sector growth.
Microsoft is planning to unveil its new Maia 300 AI chip this fall, potentially as soon as next month, The Information reported on Monday, citing people with direct knowledge of the plans.
The company introduced its Maia AI chip in November 2023 but has lagged rivals such as Alphabet and Amazon in scaling up its in-house chip efforts as it seeks to reduce its reliance on Nvidia’s costly processors.
Google began recognizing revenue from direct sales of its custom AI chips, called Tensor Processing Units, in the quarter ended June, while Amazon has also seen growing adoption of its processors, including its Trainium chips.
Microsoft has been in talks with chipmaker TSMC to secure manufacturing capacity for more than 300,000 units of the chip for delivery in 2027, according to the report. It is also looking to significantly ramp up production and persuade major cloud customers such as Anthropic to adopt the chip.
Microsoft ultimately aims to secure capacity for more than 1 million Maia 300 chips, though component supplies and ongoing capacity negotiations with TSMC could constrain its plans, according to the report.
It unveiled its second-generation Maia 200 in January, built by TSMC using 3-nanometer technology.
Microsoft packed the chip with a significant amount of SRAM, a type of memory that can provide speed advantages for AI systems handling large numbers of user requests.
X has announced plans to discontinue its Revenue Sharing programme and introduce a new Original Content Rewards programme to reward creators for producing original content on the platform.
The social media company announced the changes at the weekend in a post on its X Creators handle, saying the new programme would reward creators who contribute original content.
“Today, we’re introducing the Original Content Rewards Program, a new way to reward creators who bring original ideas, expertise, reporting, creativity, and commentary to X,” the company said.
X said it would stop accepting new enrolments into the Revenue Sharing programme from Friday, while existing participants would continue earning until September 7, 2026.
“Starting today, we’re no longer accepting new enrollments into Revenue Sharing,” it said.
According to the company, existing Revenue Sharing participants will receive three final payouts, with two scheduled for August 14 and August 28, while the final payment for earnings accrued through September 7 is expected around September 11.
X said existing Revenue Sharing participants would begin getting access to apply for the new programme from September 8, subject to meeting its eligibility requirements.
The first payout under the Original Content Rewards programme will be made on August 28, 2026, while existing Revenue Sharing creators who enrol in the new programme from September 8 will receive their first payment on September 25.
Under the new programme, eligible creators will earn from qualified impressions generated by their original content, with payments made every two weeks.
X defined qualified impressions as unique impressions from Premium users on the Home Timeline feed, where at least 50 per cent of a post is visible.
On the other hand, “The following are excluded from qualified impressions: impressions from the same account counted more than once per post; paid, promoted, or artificially generated impressions; and fraudulent impressions,” it said.
To qualify, creators must be at least 18 years old, live in a country where the programme is available, maintain an account in good standing and have either a personal or vusiness account.
They must also subscribe to X Premium, Premium+ or Premium Business, have at least 500 verified followers and record at least 500,000 Home Timeline impressions from verified users within the previous 90 days.
X said creators must also regularly post original content to remain eligible.
“We want to recognize creators who break news, share expertise, tell stories, create entertainment, and contribute meaningful perspectives to the conversation,” the company said.
The platform said original content could include threads, videos, memes, graphics, illustrations, reporting, analysis, commentary and reactions that add meaningful value to existing conversations.
It said creators who use content produced by others would need to add meaningful commentary, context, analysis, humour or creative transformation for such posts to qualify.
“Building on existing conversations is a core part of X, but simply reposting someone else’s content is not enough,” it said.
X said minor edits such as cropping, filters, borders, watermarks, speed adjustments or simple text overlays would generally not qualify as meaningful transformation on their own.
It also warned that content copied or substantially reproduced from another creator, content downloaded and re-uploaded from X or another platform without being the original author’s, automated content, disinformation and misleading content would be ineligible.
The company said accounts that violate the programme’s requirements could be temporarily or permanently removed from it, depending on the severity of the violation.
It added that creators would be responsible for ensuring they had the necessary rights, permissions or licences to use content created by others.
“Original content is content you personally create that reflects your own voice, perspective, expertise, or creativity,” X said.
The company said the new programme was intended to reward creators who make the platform more valuable by bringing original ideas and perspectives to its conversations.
“The Original Content Rewards Program is designed to reward the creators who start them, shape them, and move them forward,” it said.
National Information Technology Development Agency (NITDA) has introduced so-called Nigeria’s Certified Cloud Register, regulatory framework developed under the agency’s National Sovereign Cloud Initiative to determine which cloud providers are authorized to handle sensitive data, such as banking records.
In effect, from October, NITDA requires banks, fintech companies and other regulated organisations to source cloud infrastructure providers from a national register of certified firms approved to host sensitive financial and government data.
The Certified Cloud Register, is expected to strengthen data sovereignty, improve regulatory oversight and support the implementation of the Central Bank of Nigeria’s (CBN) data localisation policy, which takes effect on January 1, 2027.
Under the framework, banks, fintechs, government institutions and other regulated entities will be able to verify whether cloud service providers, data centre operators, managed service providers and Artificial Intelligence (AI) infrastructure companies have met NITDA’s certification requirements before entrusting them with critical digital workloads.
The initiative is expected to provide regulated institutions with a standardised process for selecting cloud infrastructure providers that satisfy Nigeria’s technical, security and regulatory requirements.
According to NITDA, the framework establishes “a common national standard, an independent assessment process and a public register of approved providers that banks, fintechs and government institutions can rely on when selecting cloud infrastructure partners.”
The register is expected to become a key compliance tool ahead of the CBN’s directive, which requires all payment transaction data generated within Nigeria to be stored and processed locally, effective from January 1, 2027.
The policy applies to deposit money banks, microfinance banks, mobile money operators, payment service providers, switching companies and other financial institutions.
The certification regime is also expected to reshape Nigeria’s cloud computing ecosystem, making regulatory approval a major requirement for cloud providers seeking to handle sensitive data for regulated industries.
Figures cited by NITDA showed that Nigeria’s 10 largest banks spent about N177.91 billion on information technology in the first quarter of 2026, representing a 31 per cent increase over the corresponding period last year.
A sizeable portion of the investment currently supports cloud infrastructure hosted outside Nigeria, a trend the new certification framework is expected to address by encouraging greater utilisation of compliant local infrastructure.
NITDA said the certification programme will apply the same technical and regulatory standards to indigenous cloud providers and international hyperscale operators, creating a level playing field for all companies seeking to provide cloud services to regulated sectors.
The agency also disclosed that more than 85 per cent of Nigerian businesses currently rely on cloud services, with the majority using infrastructure hosted outside the country.
It said the new framework is aimed at improving confidence in Nigeria’s digital infrastructure while promoting local capacity and enhancing oversight of critical national data.
Speaking on the objective of the initiative, Kashifu Inuwa Abdullahi, director-general of NITDA, said the programme is designed to strengthen Nigeria’s position in the global digital economy rather than exclude foreign technology companies.
According to him, the initiative is intended “to redefine the terms under which Nigeria participates in the global digital economy rather than isolate the country from international technology providers.”
The Certified Cloud Register forms part of broader efforts by the Federal Government to deepen digital trust, strengthen cybersecurity and ensure that critical financial and public sector data are managed in line with Nigeria’s evolving data governance and sovereignty objectives.
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