President Bola Tinubu has emphasized the importance of the National Single Window (NSW) project in promoting national and regional integration. Speaking at the inauguration of the National Steering Committee of the NSW at the Presidential Villa in Abuja, Mr. Tinubu highlighted the potential for Nigeria to tap into global revenue streams by streamlining trade processes through the single window system.
The single-window concept simplifies international trade by allowing traders to submit information to a single agency, eliminating the need to navigate multiple agencies for permits and clearances. Mr. Tinubu expressed his commitment to creating a conducive environment for the project’s success and empowering the committee to overcome any obstacles.
Describing the NSW as a game-changer, Mr. Tinubu emphasized its potential to revolutionize trade by digitizing government compliance processes. He cited examples of countries like Singapore, Korea, Kenya, and Saudi Arabia, which have seen significant improvements in trade efficiency after implementing similar systems.
Zacch Adedeji, Chairman of the Federal Inland Revenue Service and the Steering Committee, projected a seven percent annual growth in Nigeria’s GDP through the NSW. He also highlighted the initiative’s role in fostering collaboration among stakeholders in the import and export business.
Mohammed Bello-Koko, Managing Director of the Nigerian Ports Authority, underscored the NSW’s role in consolidating trade documentation on a single platform to enhance business operations. The digital platform is expected to streamline trade processes, improve interactions, and facilitate data sharing among stakeholders.
Bashir Adeniyi, Comptroller-General of the Nigeria Customs Service, emphasized the NSW’s potential to enhance trade security and facilitate investment through accessible digital platforms. He noted that the system aligns with the obligations of the Trade Facilitation Agreement to deploy technologies for trade facilitation and revenue management.
The NSW steering committee comprises representatives from various government ministries and agencies, including Finance, Marine and Blue Economy, Transportation, Industry, Trade and Investment, Inland Revenue Service, Customs Service, Sovereign Investment Authority, Central Bank, and regulatory bodies like NAFDAC and SON.
In conclusion, the National Single Window project holds immense potential for transforming Nigeria’s trade landscape, fostering economic growth, and enhancing transparency in trade operations. By embracing digital innovation and collaboration, Nigeria is poised to unlock new opportunities for prosperity and efficiency in international trade.
