President Bola Tinubu has inaugurated the national single window project to boost trade in Nigeria.
The president said, the project is estimated to yield $2.7 billion per year for the country.
While inaugurating the project and the steering committee members on Tuesday in Abuja, Tinubu emphasised the importance of collaboration to ensure the success of the initiative.
He said, it is time for Nigeria to join countries such as Singapore, Korea, Kenya and Saudi Arabia, which have experienced significant improvement in trade efficiency upon adopting single window systems.
“It is time for Nigeria to join their ranks and reap the reward of a streamlined, decentralised trade process.
“We cannot afford to lose an estimated $4 billion annually to red tape, bureaucracy, delays and corruption at our ports,” he said.
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Tinubu highlighted the project’s potential to improve regional integration and trade efficiency, making it a crucial step towards Nigeria’s economic advancement.
Members of the national single window steering committee:
Members of the steering committee include, representatives of the ministries of finance, marine and blue economy, transportation, industry, trade and investment, Federal Inland Revenue Service (FIRS), Nigerian Customs Service (NCS), and the Nigeria Sovereign Investment Authority (NSIA).
Others are the Central Bank of Nigeria (CBN), National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organisation of Nigeria (SON), Nigerian Maritime Administration on Safety Agency (NIMASA), Nigerian Ports Authority (NPA) and Presidential Enabling Business Environment Council (PEBEC).
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