Tinubu Launches National Single Window Project, Expects $2.7bn Revenue

In a move to revolutionise Nigeria’s trade and commerce, President Bola Tinubu has launched the National Single Window Project, which is expected to generate an annual economic benefit of approximately $2.7 billion from paperless trade alone.

The National Single Window Project is a cross-government initiative that aims to simplify trade processes, unlock economic potential, and position Nigeria as a global trade leader.

The project will create a single digital platform that links ports, government agencies, and stakeholders, enabling a seamless and efficient trade ecosystem.

“The National Single Window is a game-changer that will revolutionize the way we conduct trade,” said President Tinubu during the launch event at the State House in Abuja.

By simplifying government trade compliance through a digital platform, we will unlock the doors to economic prosperity and all other opportunities.”

The project is expected to reduce the time and cost of doing business in Nigeria, making it more attractive to foreign investors.

Additionally, the platform will enhance transparency and efficiency in the trade sector, which will help to reduce corruption and improve revenue collection for the government.

 

Tinubu said the project is expected to reduce the time and cost of doing business in Nigeria, making it more attractive to foreign investors. Additionally, the platform will enhance transparency and efficiency in the trade sector, which will help to reduce corruption and improve revenue collection for the government.

 

“The National Single Window is a game changer that will revolutionize the way we conduct trade. By simplifying government trade compliance through a digital platform, we will unlock the doors to economic prosperity and all other opportunities.

 

“This initiative will link our ports, government agencies and key stakeholders, creating a seamless and efficient system that will facilitate trade like never before. Imagine a Nigeria where business can save time and resources, where small enterprises can reach global markets and 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 benefits of this initiative are immense. The paperless trade alone 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 improvement in trade efficiency after implementing Single Window Systems.

 

“It is time for Nigeria to join their 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.

 

“The National Single Window will address these issues headlong, preventing revenue leakage and facilitating effective trade. By doing so, we will create a more transparent, secure and business friendly environment that will attract investment and spur economic growth.

 

“The implementation of National Single Window will not be an overnight process, I know. It require dedication, collaboration and a phased approach. But I assure you my fellow brothers and sisters, that we are fully committed to seeing this project through.

 

“We work tirelessly to ensure its success by engaging all partner agencies and stakeholders to create a system that works for every one of us,” he said.

 

 

According to the chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, the implementation of the National Single Window Project is expected to generate an average GDP growth rate of 7% annually.

 

“The National Single Window is a decisive response to the challenges we face in the current international trade environment,” said Adedeji.

 

“By improving trade facilitation, revenue generation, economic growth, transparency, security, and streamlining processes, we will transform Nigeria into a global trade powerhouse.”

 

The National Single Window steering committee, which includes representatives from various government agencies and ministries, has set a target of 24-hour port clearance, significantly faster than the 72-to-48-hour range in neighboring countries.

 

 

“Our aim is to streamline this process so that minimal information is entered, benefiting all government agencies involved in import and export procedures,” said Mohammed Bello-Koko, the Managing Director of the Nigerian Ports Authority (NPA).

 

Members of the National Single Window steering committee are: Representatives of the Ministries of Finance, Marine and Blue Economy, Transportation, Industry, Trade and Investment, Federal Inland Revenue Service, Nigerian Customs Service, Nigeria sovereign Investment Authority (NSIA).

Others are Central Bank of Nigeria (CBN), National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organization of Nigeria (SON), Nigerian Maritime Administration on Safety Agency (NIMASA), Nigerian Ports Authority (NPA) and Presidential Enabling Business Environment Council (PEBEC).