The Federal Government has launched a concerted effort to achieve 24-hour clearance of goods at the ports, consolidating activities of all agencies into a single window system aimed at enhancing trade and improving the ease of doing business.
President Tinubu inaugurated a steering committee to oversee the implementation of the National Single Window Project (NSWP), an electronic platform designed to simplify imports and exports by eliminating hurdles in goods clearing and exportation processes.
The NSWP integrates all agencies and stakeholders involved in import and export operations, streamlining trade operations for seamless efficiency.
The primary goal of the NSWP, which is housed under the Federal Inland Revenue Service (FIRS), is to ensure electronic clearance of goods within 24 hours, aiming to eliminate trade barriers, boost revenue generation, and enhance Nigeria’s ranking in the World Bank’s Ease of Doing Business Index.
Tinubu emphasized that the initiative is a bold step towards prosperity, revolutionizing trade processes in Nigeria by linking ports, government agencies, and key stakeholders into a seamless and efficient system.
Highlighting the potential benefits, Tinubu projected an annual economic benefit of around $2.7 billion from the project, noting similar success stories in countries like Singapore, Korea, Kenya, and Saudi Arabia.
The President emphasized the urgent need to address complexities and inefficiencies in trade processes, stressing that the NSWP is a game-changer poised to unlock economic prosperity and opportunities.
He urged collaboration among agencies and stakeholders to ensure the project’s success, underscoring its significance not only for Nigeria but also for regional integration and inter-Africa trade.
Chairman Adedeji of the FIRS commended the President for spearheading the initiative, noting that the NSWP will address revenue leakage, enhance trade efficiency, and boost economic growth by tackling costs, delays, and inefficiencies at the ports.
Bello Koko, Managing Director of the Nigerian Ports Authority (NPA), explained that the NSWP will significantly reduce paperwork involved in import and export transactions, with a target of achieving 24-hour clearance and replacing multiple printed forms with streamlined digital processes.
