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According to President Tinubu, the initiative will link the nation’s ports, government agencies, and key stakeholders,“creating a seamless and efficient system that will facilitate trade like never before.” Nigeria stands the chance of reaping between $2.7 and $4 billion economic benefit from the paperless trade that the initiative will unlock.
This initiative is a testament to our commitment to regional integration and our belief in the power of collaboration.” Explaining further on the initiative, the Executive Chairman of theFederal Inland Revenue Service(FIRS),Zacch Adedeji, said data harmonization is a crucial component of the initiative, which involves enabling efficient capture, definition, analysis, and reconciliation of regulatory trade documents within one unified technological mechanism.
By doing so, we will create a more transparent, secure, and business-friendly environment that will attract investment and spur economic growth” President Tinubu emphasised that the implementation of the National Single Window would not be an overnight process as it would require dedication, collaboration, and a phased approach in view of continental ramifications that extend far beyond national development imperatives alone.
“We will reduce barriers to efficient timing, improve economic metrics, increase transparency, reduce trade costs, and boost revenue.
“We cannot afford to lose an estimated $4 billion annually due to red tape, delays, and corruption at our ports”, President Tinubu said..
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