Initiative by Tinubu Introduces Single Trade Window Policy to Address Import-Export Challenges

An initiative has been launched by the Federal Government to tackle issues in the country’s import and export processes, with the goal of addressing over $4 billion in losses due to bureaucratic obstacles.

President Bola Tinubu officially established the Committee at the Presidential Villa Abuja on Tuesday. The Committee comprises experts from various sectors including the Federal Ministry of Finance, Marine and Blue Economy representatives, officials from the Federal Ministry of Transportation, Ministry of Trade and Investment, and the Federal Inland Revenue Service.

Additionally, the Committee includes representatives from the Nigerian Customs Service, Nigeria Sovereign Investment Authority (NSIA), the Central Bank of Nigeria, and key organizations such as the National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organization of Nigeria, Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Ports Authority (NPA), and the Presidential Enabling Business Environment Council (PEBEC).

The policy is part of the National Single Window Steering Committee, which aims to enhance digital trade compliance in real-time.

The National Single Window project is anticipated to facilitate paperless trade worth $2.7 billion for the country.

Noting that Nigeria cannot afford annual losses of $4 billion to bureaucracy, delays, and corruption, President Tinubu emphasized the need for Nigeria to adopt efficient trade practices. He referenced countries like Singapore, Korea, Kenya, and Saudi Arabia, which have benefited from improved trade efficiency through a single window system.

Tinubu expressed confidence that the newly launched project will streamline cargo movements and enhance intra-African trade, showcasing the administration’s dedication to regional cooperation.

The President remarked, “Today signifies the start of a new phase of unwavering commitment to prosperity, efficiency, and endless opportunities. The National Single Window embodies more than just a project or policy; it reflects our pledge to progress, prosperity, and the welfare of all Nigerians.

“This initiative represents our resolve to build a brighter future for ourselves and future generations.

“The advantages of this initiative, such as paperless trade, are estimated to yield an annual economic benefit of approximately $2.7 billion.

“Countries like Singapore, Korea, Kenya, and Saudi Arabia have already witnessed notable improvements in trade efficiency through a single window system. It is Nigeria’s turn to embrace this approach and enjoy the benefits of a streamlined, digital trade process. We cannot afford to lose $4 billion annually to bureaucratic hurdles, delays, and corruption at our ports.”