By Sabiu Abdullahi
The Federal Government has launched the National Single Window Steering Committee to bolster trade facilitation and streamline the nation’s import and export processes.
The inauguration ceremony was held at the Presidential Villa in Abuja on Tuesday, with President Bola Tinubu presiding.
The Committee comprises representatives from pivotal federal ministries and agencies.
These include the Ministry of Finance, Marine and Blue Economy, Transportation, Trade and Investment, Federal Inland Revenue Service, Nigeria Sovereign Investment Authority (NSIA), Central Bank of Nigeria, National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organization of Nigeria, and the Nigerian Maritime Administration and Safety Agency (NIMASA).
Highlighting the significance of the Nigeria Customs Service’s (NCS) involvement, President Tinubu stated, “Nigeria cannot afford to lose an estimated $4 billion annually due to bureaucratic delays, red tape, and corruption at the nation’s ports.
“By embracing the single window system, Nigeria hopes to join countries like Singapore, Korea, Kenya, and Saudi Arabia that have already experienced significant improvements in trade efficiency.”
The National Single Window project aims to introduce a real-time digital trade compliance system, revolutionizing trade processes.
This initiative is anticipated to enable paperless trade, providing an estimated annual economic benefit of around $2.7 billion.
It is projected to bolster national revenue and enhance port efficiency. With the NCS’s pivotal role in trade facilitation and border security, its involvement in the initiative is deemed crucial.
The service is aligned with the initiative’s goals, aiming to expedite cargo movement and bolster inter-African trade.
The launch of the National Single Window Steering Committee is viewed as a testament to the government’s unwavering commitment to progress, prosperity, and the welfare of Nigerians.