Segun Musa Suggests How To Maximize Impact Of Allied Sector On Economy
The Group Chairman and Chief Executive Officer of Widescope Group of Companies, Dr. Segun Musa says to maximize the impact of the aviation and logistics supply chain segment of aviation’s allied sector on Nigeria’s economic development, there should be multi-modal integration involving linking airport with rail and road networks to reduce “dwell time” for cargo, safety “Defense-in-Depth” involving implementation of layered security and safety measures at ports to build international confidence and policy harmonization that features collaboration between Federal, State, and local governments to remove “bottlenecks” in the logistics value chain.
Musa’s presentation titled Enhancing Input of the Allied Sector in Nigeria’s Economic Development was made by Dr. Segun Ayo-Obe at the Quarter1 Business Breakfast Meeting of Aviation Safety Round Table Initiative (ASRTI) held in Lagos, under the theme, “Building MMIA Into A Safe & Economically Viable Hub.”
He said the logistics and transport sector contributes nearly 3% to the GDP and acts as the “circulatory system” of the economy, adding that “an economy is only as fast as its logistics.” He said the aviation and logistics supply chain supports over 240,000 jobs in Nigeria and that companies like Widescope contribute directly to this employment pool. He stated that Widescope has continued to create direct and indirect jobs through its other business units.
Musa identified the challenges of the allied sector as infrastructure deficits featuring lack of adequate cargo cooling systems and modern warehousing at airports, over-taxation in form of high charges in the aviation sector which can make Nigerian exports uncompetitive as well as policy inconsistency.
“Sudden border closure or changes in customs tarrifs can cause massive losses estimated at over N100 billion in past cycles,” he said.
“Widescope Limited serves as a case study for how private-sector efficiency can bridge the infrastructure gap. When air transportation and professional logistics work in synergy, Nigeria moves closer to its goal of being a regional hub for the African Continental Free Trade Area [AfCFTA],” he said.
