THE EXECUTIVE 2 days ago
FG Unveils Initiative To Reduce Business Cost At Nigerian Ports
The Minister of Marine and Blue Economy, Gboyega Oyetola has announced that the Federal Government’s plan to implement the National Single Window (NSW) aimed at reducing the cost of doing business at the Nigerian Ports.
The Nigerian Ports Authority in a statement on Tuesday, said the NSW works by streamlining operations, improving transparency, and minimising delays.
The system not only drives cost savings but also strengthens overall trade facilitation.
The cumulative impact across all areas, including reduced costs, enhanced efficiency, and greater transparency, ultimately contributes to the overall ease of doing business.
The minister, however, noted that FG is also prioritising multimodal connectivity to boost trade and reduce transportation costs.
“The executive decision to implement the National Single Window system alongside the Port Community System (led by the Ministry of Marine and Blue Economy through the Nigerian Port Authority) marks a pivotal step in this direction, demonstrating the government’s commitment to modernising trade processes and maximising the utilisation of our marine resources.
Also speaking, the Managing Director, Nigerian Ports, Dr Abu Dantsoho said the implementation of NSW interconnects all stakeholders involved in foreign trade, and enables them to perform trade procedures on one platform, adding that it provides a comprehensive online environment for all governmental and business users such as importers, exporters, commercial banks, carriers, Customs, ministries, and other government agencies to perform trade operations.
He said the Single Window operation is the global trade best practice for the electronic exchange of information relating to over 500 million TEU movements and billions of tonnes of cargo for sea, air, and land transport modes.
He said, “This concrete move by His Excellency, President Bola Tinubu to implement the NSW in Nigeria is pivotal to deepening the competitiveness of our Ports and position the good people of Nigeria to reap greater benefits from global trade.”
