President Bola Tinubu has launched a steering committee for the Single Window Project, predicting that the initiative’s implementation will generate approximately $2.7 billion in revenue for Nigeria. The Single Window Project aims to streamline trade processes by providing a unified platform for trade actors to access resources and services from various Nigerian agencies.
During the inauguration ceremony held at the State House in Abuja, President Tinubu emphasized the significant economic benefits of the initiative, stating that the transition to paperless trade alone could yield an annual economic benefit of $2.7 billion. He described the project as transformative, highlighting the government’s commitment to progress, prosperity, and the well-being of Nigerians.
President Tinubu underscored the potential of Nigeria’s resilient and creative population but lamented the hindrances posed by complexities and inefficiencies in trade processes. He expressed confidence that the National Single Window would revolutionize trade by simplifying government compliance through a digital platform, thereby unlocking economic prosperity and opportunities.
Drawing examples from countries like Singapore, Korea, Kenya, and Saudi Arabia, which have seen improved trade efficiency with Single Window Systems, President Tinubu emphasized Nigeria’s need to join their ranks to eliminate revenue leakage, bureaucracy, delays, and corruption at ports.
Acknowledging that the implementation of the National Single Window would require dedication, collaboration, and a phased approach, President Tinubu assured full commitment to the project’s success. He emphasized the project’s potential to attract investment, spur economic growth, and facilitate inter-Africa trade.
President Tinubu called on all citizens to embrace the initiative, emphasizing its role in positioning Nigeria as a leader in global trade. He urged the steering committee to overcome obstacles and solicited their input to ensure the project’s success, highlighting the opportunity to build a legacy for future generations.
Following the inauguration, Managing Director of the Nigerian Ports Authority (NPA), Bello Koko, outlined some benefits of the project, including the target for imports to be cleared within 24 hours and the reduction of paperwork through a unified platform for government agencies.
The steering committee comprises representatives from various government agencies, including the Federal Ministry of Finance, Federal Ministry of Transportation, Nigerian Customs Service, Central Bank of Nigeria, and others, highlighting the collaborative effort to drive the project’s success.