The Federal Government of Nigeria, on Wednesday announced the launching of the National Single Window project aimed at boosting Nigeria’s trade and economic growth in a statement from the Ministry of Finance.
The three-day project workshop was launched yesterday and would be ending today in Abuja with stakeholders in attendance.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun kicked off the launch of the transformative initiative, which aims to streamline trade processes, reduce bottlenecks, and increase transparency, positioning Nigeria for economic growth.
The Single Window Project involves creating a centralized platform where traders can receive and submit information related to import and export procedures. The project would be spearheaded by the Federal Inland Revenue Service and the Nigerian Sovereign Investment Authority.
According to a statement from the Ministry of Finance signed by Mohammed Manga, Director, Information and Public Relations on Wednesday, he said the NSW project is expected to significantly reduce the time and cost associated with trade transactions.
Edun also mentioned that the initiative is a “Crucial step towards improving our trade facilitation processes and making Nigeria more competitive in the global market,” he stated during the project’s kick-off workshop in Abuja.
The project secretariat will be housed within the FIRS and will serve as a central hub for coordination and oversight.
Key stakeholders from various government agencies, including the Nigerian Ports Authority, Nigerian Customs Service, Nigerian Civil Aviation Authority and National Agency for Food and Drug Administration and Control, are actively participating in the workshop to ensure the successful implementation of the NSW.
The launch of the NSW project Manga said aligns with President Bola Ahmed Tinubu’s broader economic reform agenda. Through simplifying trade procedures and eliminating bureaucratic hurdles, the government will succeed in creating a conducive business environment for local and foreign investment.
The three-day workshop will conclude with a detailed action plan outlining the next steps for the project and timelines for its full implementation.
The statement concluded that as the NSW project progresses, Nigeria can anticipate improved trade efficiency, increased transparency, and a more business-friendly environment, paving the way for sustainable economic growth and development.
