The Federal Government has launched the National Single Window (NSW) Project in furtherance of its sustained efforts to boost the nation’s merchandize trade and economic growth.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at a workshop in Abuja, explained that the NSW project would help in streamlining trade procedures, removing obstacles, and enhancing transparency in Nigeria’s trade with other countries.
The Minister, who harped on the NSW’s transformative potential in boosting trade facilitation and spurring economic growth in Nigeria, noted that the programme remained a fundamental component of the government’s plan to enhance trade and customs procedures, lessen traffic jams, and promote openness in the country’s trading environment.
Edun disclosed that the Nigerian Sovereign Investment Authority (NSIA) and the Federal Inland Revenue Service (FIRS) had been appointed as the project’s implementing agencies, with the latter serving as its Secretariat, in order to guarantee the project’s efficient execution and financial management.
In addition, he listed other participants at the workshop as including the Nigerian Ports Authority (NPA), the Nigeria Customs Service (NCS), the Nigerian Civil Aviation Authority (NCAA), and the National Agency for Food and Drug Administration and Control (NAFDAC), stressing that their cooperation is essential to the successful implementation of the NSW.
The three-day workshop will end today and come out with a comprehensive action plan that outlines the project’s next steps and the dates for its complete implementation.
Experts believe that Nigeria stands to benefit from a major increase in trade facilitation and economic growth through the establishment of the NSW given its potential benefits in terms of improved trade procedures, more transparency, and a more business-friendly atmosphere as the project advances.
