FG deploys single window system to recover $3b, meet $1tr target
Minister for Marine & Blue Economy, Adegboyega Oyetola (left); Chair Senate Committee on Finance, Sani Musa; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; Chairman Federal Inland Revenue Service (FIRS), Mr. Zacchs Adedeji; Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho and Head National Single Window Secretariat, Mr. Tola Fakolade, on January 28, 2024 at the National Single Window Stakeholders’ Forum at Marriot Hotel, Ikeja, Lagos.
By Adaku Onyenucheya
Minister for Marine & Blue Economy, Adegboyega Oyetola (left); Chair Senate Committee on Finance, Sani Musa; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; Chairman Federal Inland Revenue Service (FIRS), Mr. Zacchs Adedeji; Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho and Head National Single Window Secretariat, Mr. Tola Fakolade, on January 28, 2024 at the National Single Window Stakeholders’ Forum at Marriot Hotel, Ikeja, Lagos.
Ministers, others optimistic 24-hr port operation will fast-track $1tr economy
The Federal Government has unveiled President Bola Tinubu’s plans for the implementation of the National Single Window (NSW) system to streamline trade processes, curb corruption and recover the over $3 billion yearly revenue leakages.
It said the initiative aligned with the President’s Renewed Hope Agenda to boost the economy and position the country as a competitive trade hub in Africa to realise the $1 trillion economy by 2031.
Similarly, the Minister of State for Finance, Dr Doris Uzoka-Anite; Minister of Marine and Blue Economy, Gboyega Oyetola; Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; Chairman, Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji; Managing Director, Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho and others are optimistic about the potentiality of the project fast-tracking the realisation of the $1 trillion economy.
Speaking yesterday at the three-day National Single Window Establishment Stakeholders Forum in Lagos, Oduwole emphasised the urgency of implementing the NSW system to achieve the President’s economic vision.
She highlighted that the platform would enable Nigerian businesses to compete effectively in global markets, create jobs in export-driven sectors such as agriculture, manufacturing and technology, and strengthen the country’s role under the African Continental Free Trade Area (AfCFTA).
Oyetola said the full deployment of the unified digital system would substantially address clearance delays and cut the time by as much as 60 per cent, as well as optimise operations, reduce prolonged dwell times, and the long-standing ports inefficiencies.
Oyetola noted that inefficiencies at the ports cost Nigeria over N2.5 trillion yearly as highlighted in a World Bank report.
He said with the cost of doing business at Nigerian ports, up to 40 per cent higher than in other West African countries, the deployment of the NSW system is expected to reduce costs by at least 25 per cent, making the ports more competitive regionally.
“By streamlining operations, improving transparency and minimising delays, the system not only drives cost savings but also strengthens overall trade facilitation. The cumulative impact across all areas, including reduced costs, enhanced efficiency and greater transparency, ultimately contributes to the overall ease of doing business,” he stated.
Adedeji, described the NSW as pivotal to the realisation of Tinubu’s goal of a $1 trillion economy by 2031. He pointed out that bureaucratic inefficiencies and delays at the ports have eroded Nigeria’s competitiveness in global trade, resulting in significant revenue losses and a decline in foreign direct investments as well as hindering the full realisation of the nation’s economic potential.
Adedeji said the NSW initiative aims to integrate critical trade actors, including, seaports, airports, free trade zones, government agencies, financial institutions, and the private sector onto a single platform to revolutionise international trade.
According to the ministers and other stakeholders, there can be no better time than now for the take-off of the NSW initiative.
This consensus of stakeholders and industry experts was made at the opening of a three-day workshop in Lagos.
“As highlighted by the World Bank, the cost of doing business at Nigerian ports can be up to 40 percent higher than in other West African countries due to delays and administrative bottlenecks, leading to an estimated annual revenue loss of N2.5 trillion within the business community.”
Comptroller General of the Nigeria Custom Service (NCS), Bashir Adeniyi, who was represented, said the concept was not new to Nigeria as similar efforts had been made in the past, suggesting ways to overcome the challenged that stunted similar efforts in the past.
The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, reaffirmed the importance of the NSW in streamlining foreign trade operations in Nigeria.
He emphasised that the NSW interconnects all trade stakeholders, including importers, exporters, banks, Customs, and various government agencies, enabling them to conduct transactions on a unified platform.
This, he noted, aligns with global best practices for the electronic exchange of trade information, which facilitates the movement of over 500 million TEUs and billions of tonnes of cargo globally across sea, air, and land transport modes.
Dantsoho commended President Bola Ahmed Tinubu’s commitment to implementing the NSW, describing it as a critical step in enhancing Nigeria’s port competitiveness and maximising the country’s participation in global trade.
He explained that the Port Community System (PCS), a key component of the NSW, is designed to help Nigeria meet the International Maritime Organisation (IMO) Convention on the Facilitation of International Maritime Traffic (FAL), which aims to prevent unnecessary delays, foster intergovernmental cooperation, and standardize trade procedures.
Dantsoho said to this end, the NPA has proactively sought technical guidance from the IMO for PCS deployment, leading to Nigeria’s admission into the International Port Community System Association (IPCSA), joining top-class ports such as Tangier Med Port in Morocco and those in Ghana, Togo, Ivory Coast, and Benin Republic.
Highlighting the NPA’s commitment to digital transformation, Dantsoho stated that the agency has strategically implemented ICT-driven initiatives to align with international standards.
He emphasised that modern trade facilitation requires seamless data availability and enhanced transparency, both of which the NSW will provide.
“The National Single Window is central to our port modernization efforts, and under the supervision of the Honourable Minister of Marine & Blue Economy, Alhaji Adegboyega Oyetola, we are fully committed to its successful implementation,” he added.
As part of efforts to maintain Nigeria’s regional and continental competitiveness, he said the NPA has embarked on process reengineering to integrate its functions with the NSW’s objectives.
GUARDIAN Newspapers