The World Bank has said that it costs five times more to move goods locally within Nigeria than in the United States of America.
This disclosure was contained in a Global Facility to Decarbonize Transport report, which was recently published by the World Bank.
The World Bank, in the reported, stated that the cost of moving goods at per unit distance, domestically in Nigeria, is about 5.3 times higher than in the United States of America.
The report stated that reducing the cost of moving goods through enhancing the effectiveness of transport networks and services is crucial to resuscitating global trade.
It read partly, “Despite the increased globalization of production and trade, the world today is still far from being a single integrated economy.
“Landlocked developing countries, accounting for about one-fifth of the world’s nations, face higher transport costs than coastal countries.”