In a significant move to enhance Nigeria’s trade landscape, President Bola Tinubu has officially launched the National Single Window (NSW) initiative.
This transformative project aims to streamline trade processes, reduce bureaucratic bottlenecks, and foster greater transparency within the nation’s trade environment.
By creating a digital platform that connects ports, government agencies, and stakeholders, the NSW is expected to simplify compliance and facilitate smoother import and export operations.
Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service, emphasized that the NSW could drive Nigeria’s GDP growth by 7% annually.
The initiative is projected to generate substantial economic benefits, with estimates suggesting an annual gain of approximately $2.7 billion from paperless trade alone.
This aligns with global trends, as countries like Singapore and South Korea have reaped similar rewards from implementing single-window systems.
The project is not just a technological upgrade; it represents a commitment to a more efficient, secure, and investment-friendly environment, ultimately positioning Nigeria as a leader in global trade.