The Federal Government says it is working round the clock to ensure the introduction of the National Single Window (NSW) platform at its various seaports and related facilities as part of deliberate measures to cut the cost of doing business by more than 25 per cent.
The World Bank had observed that the cost of doing business at Nigeria’s seaports is about 40 per cent higher than what obtains in most other West African countries, which has been attributed to delays and administrative bottlenecks.
Speaking at a stakeholders’ forum on the establishment of the National Single Window, held in Lagos, Minister of Marine and Blue Economy, Adegboyega Oyetola, noted that when implemented, the NSW will reduce cost of doing business at Nigeria’s seaports by over 25 per cent.
The Minister further admitted that the country loses an estimated annual revenue of ₦2.5 trillion for both the government and the business community, a development that makes it expedient for the government to work with its relevant Ministries, Departments and Agencies MDAs towards ensuring that the NSW platform comes on stream within the shortest possible time.
Meanwhile, Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho, has assured that with the active support the agency enjoys from the Minister, the Authority would leave no stone unturned in ensuring quick and successful deployment of the NSW platform in the country, which would largely address challenges faced by business owners, especially in the shipping industry.
The Minister said: “By streamlining operations, improving transparency, and minimizing 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.
“The NSW project implementation is a vital initiative to promote trade facilitation, as this will no doubt raise awareness and enlighten participants on the benefits of NSW. It is also in tandem with the measures being put in place by the Federal Government to improve trade efficiency for the collective economic prosperity in the country.
“Today, we convene as partners in progress to explore how the implementation of the National Single Window system can streamline trade facilitation and catalyze the growth of our blue economy.
“Nigeria’s decision to implement the National Single Window system alongside the Port Community System (led by the Ministry of Marine and Blue Economy through the Nigerian Ports Authority) marks a pivotal step in this direction, demonstrating the government’s commitment to modernising trade processes and maximising the utilisation of our marine resources.
“Nigeria’s marine and blue economy represents an untapped gold mine of opportunities. It encompasses a vast spectrum of activities—from maritime shipping and fisheries to renewable energy and coastal tourism.”