Nigeria’s President, Bola Ahmed Tinubu has launched a new digital trade compliance initiative, code-named the National Single Window project that will facilitate paperless trade of $2.7b annual economic benefit to the country.
Launching the Presidential steering committee on the National Single Window project on Tuesday at the Council Chamber of the State House, Abuja, the President said Nigeria cannot afford to lose an estimated $4b annually to bureaucracy, delays and corruption.
President Tinubu also said it was time for Nigeria to join the ranks of countries like Singapore, Korea, Kenya and Saudi Arabia that have experienced significant improvement in trade efficiency after implementing a single window system.
The Nigerian Leader said that through the newly launched project, Nigeria will expedite cargo movement and optimize inter-African trade, he added that the initiative is a testament to his administration’s commitment to regional integration and collaboration.
“Today, marked the beginning of a new era of unyielding commitment to prosperity, efficiency and endless possibilities the National Single Window is not just a project. This initiative, not just a policy is a bold statement of our commitment to progress, prosperity, and the well-being of every Nigerian.
“It is a symbol of our determination to build a better future for ourselves and generations to call.
“The benefit of this initiative is immense paperless trade alone, which is estimated to bring an annual economic benefit of around 2.7 billion US dollars. countries like Singapore, Korea, Kenya and Saudi Arabia have already seen significant improvements in trade efficiency. After implementing a single implemented single window system. It is time for Nigeria to join the ranks and reap the reward of a streamlined, digitalized trade process we cannot afford to lose an estimated $4 billion annually to red tape, bureaucracy, delays and corruption at our ports.
“Moreover, the national single window. It is not just about Nigeria by linking our system with those of other African nations, We expedite cargo movement and optimise inter-African trade. This initiative is a testament to our commitment to regional integration and I believe in the power of collaboration”, the President added.
President Tinubu assured that the National Single Window is a game changer that will revolutionize the way Nigeria conducts its trade by simplifying government trade compliance through a digital platform.
He explained that the initiative will link up port government agencies and key stakeholders creating a seamless and efficient system that will facilitate trade with unprecedented records.
“Imagine a Nigeria where businesses can save time and resources where small enterprises can reach global markets, where the informal e-commerce sector is brought into the fold increasing our tax base. This is the Nigeria we are building with the National Single Window, the National Single Window will tackle these issues head-on, these issues at preventing revenue leakage and facilitating effective trade by doing so.
Phase Approach
The President disclosed that the implementation of the national single window process will be in a phased approach and will require dedication and collaboration.
“This will not be an overnight process. I know, It will require dedication, collaboration and a phased approach. But I assure you that we are fully committed to seeing this project through We will work tirelessly to ensure its success, engaging all partner agencies and stakeholders to create a system that works for every Nigerian.
The President tasked the Presidential steering committee to tackle all obstacles while he assured of his support for the full implementation of their discoveries and solutions to achieve efficiency on the project.
“Dismantle all block webs along your way I will be ready to listen to your conversations, your discoveries to any problem-solving areas that will make the single window a big success”
Earlier in his remarks, the Special Adviser to the President on Revenue, Mr Zacheus Adedeji in his remarks said the newly launched digital trade platform will streamline and digitalise the trade environment in Nigeria.
“The national single window is not just about facilitating trade. It is also a powerful tool for expanding our tax base and capturing the informal e-commerce sector by providing a unified model digital platform for expedience, paperless cargo clearance and logistics. We will bring more business into the former economy, ensuring that everyone contributes their fair share to our national development”.
Members of the National Single Window Steering Committee include; Representatives of the Federal Ministry of Finance, representatives of the Marine and Blue Economy, representative of the Federal Ministry of Transportation, representative of the Federal Ministry of Trade and Investment, representative of the Federal Inland Revenue Service, representative of the Nigerian Customs Service, representative of the Nigeria Sovereign Investment Authority (NSIA), representative of the Central Bank of Nigeria, representative of the National Agency for Food and Drug Administration and Control (NAFDAC), representative of the Standards Organization of Nigeria, representative of the Nigerian Maritime Administration on Safety Agency (NIMASA), representative of the Nigerian Ports Authority (NPA) and representative of the Presidential Enabling Business Environment Council (PEBEC).
VON