- Federal government emphasizes NSW project’s potential to prevent over $3 billion in annual revenue losses through digital trade transformation
- Ministers highlight the project’s ability to streamline trade processes, enhance transparency, and eliminate bureaucratic hurdles across government agencies
The federal government has emphasized the significance of the National Single Window (NSW) project, stating that it could prevent revenue losses exceeding $3 billion annually.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, made this known on Tuesday during a stakeholders’ forum in Lagos on establishing the NSW.
He pointed out inefficiencies in port operations, bureaucratic hurdles, and poor stakeholder coordination as major challenges hindering the growth of the marine and blue economy.
According to Adegboyega, implementing the NSW will streamline trade processes and improve trade facilitation through a unified electronic platform.
“This digital transformation removes redundancies, reduces processing times, and enhances coordination among government agencies and private sector players.
Essentially, it forms the foundation for efficiency and competitiveness in global trade,” he stated.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, described the NSW system as a groundbreaking reform redefining cross-border trade processes.
She added that the project would promote transparency, eliminate corruption, and reduce administrative burdens to enhance the ease of doing business.
“Our single window project will offer a centralized digital platform for traders to submit, process, and access trade-related documentation,” she noted.
The Minister of State for Finance, Doris Uzoka-Anite, stressed the importance of stakeholder support, including government agencies and the private sector. She emphasized that collaboration is key to unlocking the initiative’s potential and boosting Nigeria’s trade capacity.
“By working together, we can leverage this initiative’s power to maximize Nigeria’s trade potential, drive economic growth, and create a more prosperous future for all,” she stated.
NSW Chairman and Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, highlighted that the project’s implementation would enhance Nigeria’s global trade competitiveness.
“By establishing an integrated platform that connects all critical actors – seaports, airports, free trade zones, government agencies, financial institutions, and the private sector – we are set to transform international trade operations,” he said.
Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, stressed the need for robust digital infrastructure to prevent technical issues during implementation.
“We must ensure that the effective rollout of the NSW addresses key challenges such as inadequate infrastructure and system vulnerabilities. A contingency plan is essential to prevent service disruptions due to downtimes or cyber threats,” he cautioned.
Discussion about this post