THE Chartered Institute of Logistics and Transport (CILT) Nigeria has announced a remarkable 242 percent increase in its revenue over the past four years, reflecting the success of its financial reforms and governance initiatives.

This was disclosed on Tuesday by the President and Chair of Council, Mrs. Mfon Ekong Usoro while delivering her welcome address at the 2025 CILT Annual Conference, held in Lagos.

According to Barrister Usoro, the Institute’s revenue rose from a closing balance of ₦7.8 million in December 2021 to ₦55 million in the third quarter of 2025, while its liquid assets, comprising cash, bank, and investments, grew from ₦17 million in early 2022 to ₦123 million as of the third quarter of 2025.

Usoro attributed the growth to “sound financial discipline, accountability, and strategic oversight,” noting that all CILT projects and expenditures now pass through the Finance, Budget, and Audit Committee for review and approval.

“We established a Finance, Budget and Audit Committee to guide fund management and cost control. Every disbursement request is scrutinised and audited quarterly. The outcome has been phenomenal,” she said.

The CILT Nigeria president also announced that the Council had approved the adoption of a modern Accounting Enterprise Resource Planning (ERP) system to further enhance financial transparency and streamline audit processes.

She emphasized that the Institute’s transformation agenda, launched in 2021, focused on reforming governance structures, expanding membership, and digitizing operations — all of which have yielded tangible results.

CILT Nigeria, established in 1958, is the professional body for logistics and transport practitioners in the country and operates under the global CILT network headquartered in the United Kingdom.

Usoro reaffirmed the Institute’s commitment to advancing professionalism in supply chain management, transport, and logistics to support Nigeria’s economic growth.

“Accountability and transparency remain the watchwords of this administration. The improvement in our financial standing reflects the confidence and trust of our members,” she added.

The 2025 conference brought together industry leaders, academics, and policymakers to deliberate on sustainable transport systems, digitalization in logistics, and the Blue Economy.

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