NIGERIA'S air cargo sector, projected to reach a market size of US$3.42 billion in 2025, may face a setback following new cargo tariffs imposed by US President Donald Trump, reports Lagos Daily Independent.
Cargo experts note that shipments from Nigeria to the US are largely informal and not exported in significant commercial volumes.
While opinions vary on how much the tariff hike will impact Nigeria's economy, there is broad agreement that diplomatic efforts are essential to resolving the issue.
In 2024, Nigeria's air freight market was valued at $3.01 billion, with optimistic projections of growth to $3.42 billion in 2025.
The sector was expected to maintain strong momentum, with a Compound Annual Growth Rate (CAGR) of 13.54 per cent, potentially reaching $5.64 billion by 2029. However, the newly introduced tariffs now pose a threat to these forecasts.
Air cargo volume in Nigeria for 2024 was estimated at 1.61 million tonne-kilometres, showing a modest rise from 1.60 million in 2023.
With global trade dynamics shifting, industry stakeholders stress the need for strategic engagement and policy adjustments to safeguard Nigeria's growing cargo industry.
SeaNews Turkey
Cargo experts note that shipments from Nigeria to the US are largely informal and not exported in significant commercial volumes.
While opinions vary on how much the tariff hike will impact Nigeria's economy, there is broad agreement that diplomatic efforts are essential to resolving the issue.
In 2024, Nigeria's air freight market was valued at $3.01 billion, with optimistic projections of growth to $3.42 billion in 2025.
The sector was expected to maintain strong momentum, with a Compound Annual Growth Rate (CAGR) of 13.54 per cent, potentially reaching $5.64 billion by 2029. However, the newly introduced tariffs now pose a threat to these forecasts.
Air cargo volume in Nigeria for 2024 was estimated at 1.61 million tonne-kilometres, showing a modest rise from 1.60 million in 2023.
With global trade dynamics shifting, industry stakeholders stress the need for strategic engagement and policy adjustments to safeguard Nigeria's growing cargo industry.
SeaNews Turkey
