• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, June 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

World Bank advises developing countries on logistics performance

World Bank

The Matters Press by The Matters Press
April 23, 2023
Reading Time: 2 mins read
0
World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021

The World Bank on Friday released its 2023 Logistics Performance Index (LPI) report, urging developing economies to boost their economic growth through improvements in logistics for goods transportation.

RELATED POSTS

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

The report is a measure of countries’ ability to move goods across borders with speed and reliability.

This is contained in a statement issued by the World Bank’s Online Media Briefing Centreon Saturday.

The statement said the 7th edition of Connecting to Compete, the LPI report, came after three years of unprecedented supply chain disruptions during the COVID-19 pandemic when delivery times soared.

It said the LPI, which covers 139 countries, measures the ease of establishing reliable supply chain connections and the structural factors that make it possible.

“This includes the quality of logistics services, trade- and transport-related infrastructure, and border controls” the report said.

The statement quoted Mona Haddad, Global Director for Trade, Investment, and Competitiveness, World Bank, as saying “logistics are the lifeblood of international trade.

“Also trade in turn is a powerful force for economic growth and poverty reduction”, the World Bank official said.

Haddad said the Logistics Performance Index helped developing countries identify where improvements can be made to boost competitiveness.

The statement said on average across all potential trade routes, 44 days elapse from the time a container enters the port of the exporting country until it leaves the destination port with a standard deviation of 10.5 days.

“That span represents 60 per cent of the time it takes to trade goods internationally”, Haddad said.

According to LPI 2023, end-to-end supply chain digitalisation, especially in emerging economies, is allowing countries to shorten port delays by up to 70 per cent compared to those in developed countries.

“Moreover, demand for green logistics is rising, with 75 per cent of shippers looking for environmentally friendly options when exporting to high-income countries”, Haddad.

The statement quoted Christina Wiederer, co-author of the report as saying, “while most time is spent in shipping, the biggest delays occur at seaports, airports, and multimodal facilities.”

Wiederer, who is also the Senior Economist, World Bank Group’s Macroeconomics, Trade & Investment Global Practice Policies, said targeting these facilities could help improve reliability.

“Such policies include improving clearance processes and investing in infrastructure, adopting digital technologies, and incentivizing environmentally sustainable logistics by shifting to less carbon-intensive freight modes and more energy-efficient warehousing,” Wiederer said.

The report revealed that in the 2023 LPI, the top 12 scorers were high-income economies.

“Singapore, with a score of 4.3, is at the top, a position it also held in 2007 and 2012.

“Of the top 12 scorers, eight are in Europe (Finland, scoring 4.2; Denmark, the Netherlands, and Switzerland, scoring 4.1; and Austria, Belgium, Germany, and Sweden, scoring 4.0).

“They are joined by Hong Kong SAR, China; the United Arab Emirates; and Canada,” it said.

The report said most of these economies have for years been dominant players across international supply chain networks.

It said the bottom 10 scorers were mostly low- and lower-middle-income countries and are located on several continents.

“They are either fragile economies affected by armed conflict, natural disasters, or political unrest or landlocked countries challenged by geography or economies of scale in connecting to global supply chains,” it said.

It said Afghanistan and Libya have the lowest score at (1.9), followed by Somalia at (2.0), Angola, Cameroon, and Haiti at (2.1).

Nigeria has a score of 2.6 alongside Mali and Guinea.

Tags: World Bank
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
Economy/Technology

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

June 6, 2025
Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
Next Post
Kenya seeks to raise $2b Eurobond

Kenya seeks to raise $2b Eurobond

Tanzania, Australia firms sign $667m deal to mine rare earths

Tanzania, Australia firms sign $667m deal to mine rare earths

Recommended Stories

How NNPC is solving lingering petrol scarcity

NNPC’s petrol supply increases 44% a week

March 20, 2023
Reliable data critical in eradicating child labour- NBS boss

NBS reports N1.64trn as IGR at States’ level for 2019

October 16, 2022
“Naira-4-Dollar” getting results

Naira ends week on negative note

March 11, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigeria’s 3MTT gets boost as EU, World Bank back initiative
  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us