Nigeria Warehousing Market is Expected to Cross USD 170 Million by 2023: Ken Research

Key Findings
• Nigerian Government is likely to expand contribution to manufacturing sector to 20% by building more industrial parks near Lagos.
• 15 new solar powered cold storages are expected to open in Kano state that will enhance the revenue from agricultural segment in warehousing market.
• The Federal Government officially concessioned its medical warehouse facilities in Abuja and Lagos worth more than NGN 1.56 billion to MDS Logistics. This will enable more PPP framework into the warehousing market.

Industrial parks and free trade zones: The government has set up Nigeria SEZ Investment Company to finance industrial parks in the commercial capital of Lagos and currently raising capital of USD 250 million from lenders such as African Development Bank, Afreximbank, African Finance Corporation and Nigerian Sovereign Investment Authority. Initiation and development of existing industrial parks such as Tomaro, Enugu industrial park and Lekki Free Trade Zone, Kano, Ogun and Abuja free trade zones will help in enhancing the warehousing sector.

Expected Boost in Manufacturing and Export Sector: The government has prohibited the importation of 41 products due to recession in 2016-17 and will focus on building manufacturing and industrial units that will make the country self reliant. The project MINE is an initiative by the newly elected president to develop special economic zones and promote the goods that are made in Nigeria. The first round of funding will concentrate on developing Funtua Cotton Cluster, Enyimba Economic City and Lekki-Epe Model Industrial Park in Katsina, Abia and Lagos State respectively. This will increase the domestic demand as well as exports in the market giving boost to warehousing sector. Some of the companies that have been entered recently are Dangote, Vicampro Farm, BlackPace, Kiremko and many more.

Increasing cold storages: The agricultural sector will be better off due to 15 solar powered cold storages build by the government in future in Kano State. Coldhubs, a private company is providing cold rooms to the farmers at a very cheap rate for seafood, vegetables and is expected to provide 30 cold warehouses till 2020 in Nigeria. The sector is expected to expand in future with public-private partnerships in the country.
Analysts at Ken Research in their latest publication “Nigeria Warehousing Market Outlook to 2023 – By Operational Model, Open and Closed, End Users, Regulated and Unregulated, Regions, Integrated and Contract Warehouses” believe that the warehousing market in Nigeria is expected to grow due to government spending, Industrial parks, International trade, strict regulations by NAFDAC, Development of Manufacturing sector and adaptation to new technology.

For more information, refer to below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/nigeria-warehousing-market/260588-100.html

Nigeria Warehousing Market
• Revenue by Business Model
 Industrial/Retail
 CFS/ICD
 Cold storage and Agriculture
• Revenue by Region
 Lagos
 Kano
 Kaduna
 Ogun
 Nassaraw
 Others
• Revenue by Type of Warehouses
 Open warehouse
 Closed warehouse
• Revenue by Contract and Integrated warehouses
 Contract warehouses
 Integrated warehouses
• Revenue by End User
 Food and Beverages
 Automotive
 Consumer retail
 Health care
 Others(Agricultural products and other perishable commodities)
• Revenue by Market Structure
 Regulated
 Unregulated

Companies Covered
• DHL
• Bollore Transport and Logistics
• UPS (United Postal Services)
• GMT Logistics
• MDS logistics

Key Target Audience
• Warehousing Companies
• 3PL Companies
• Consultancy Companies
• Real estate companies
• E commerce players
Time Period Captured in the Report:-
• Historical Period – 2013-2018
• Forecast Period – 2019-2023E

Key Topics Covered in the Report:-
Nigeria Warehousing Market Overview
Nigeria Warehousing Market Size
Nigeria Warehousing Market Segmentation
Competitive Scenario in Nigeria Warehousing Market
Company Profiles of Major Players in Nigeria Warehousing Market
Nigeria Warehousing Market Future Outlook and Projections
Nigeria Warehousing Future Market Size
Nigeria Warehousing Market Future Segmentation
Analyst Recommendations on Nigeria Warehousing Market

Related Reports
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/kenya-warehousing-market-outlook/248566-100.html

https://www.kenresearch.ae/automotive-transportation-and-warehousing/logistics-and-shipping/kenya-logistics-and-warehousing-market/248570-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/uganda-logistics-and-warehousing-market/251373-100.html

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Ankur@kenresearch.com
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This release was published on openPR.