By Seun Adams
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Wednesday launched the National Single Window (NSW) project kickoff workshop to boost trade facilitation and economic development.
According to Edu, the transformative initiative aims to streamline trade processes, reduce bottlenecks and increase transparency to position Nigeria for economic growth.
In his opening address at the event, the Minister underscored the transformative potential of the NSW in enhancing Nigeria’s trade facilitation and driving economic growth.
He informed that the initiative is a key pillar in the federal government’s strategy to improve trade and customs processes, reduce bottlenecks, and increase transparency within the nation’s trade environment.
To ensure the effective implementation and financial management of the project, Edun informed further that the Federal Inland Revenue Service (FIRS), led by its Executive Chairman, D
Zacch Adedeji, and the Nigerian Sovereign Investment Authority (NSIA) have been designated as the project’s implementing agencies.
The project Secretariat, he added, will be housed within the FIRS, providing a central hub for coordination and oversight.
Other key stakeholders from various government agencies, including the Nigerian Ports Authority (NPA), the Nigerian Customs Service (NCS), the Nigerian Civil Aviation Authority (NCAA), and the National Agency for Food and Drug Administration and Control (NAFDAC), are actively participating in the workshop.
Their collaboration is crucial to ensuring the successful implementation of the NSW, which is a critical component of President Bola Ahmed Tinubu’s broader economic reforms.
The three-day workshop will conclude on Thursday with a detailed action plan, outlining the next steps for the project and the timelines for its full implementation.
With the launch of the National Single Window, Nigeria is poised to witness a significant leap in trade facilitation and economic growth. The collaboration among key stakeholders and the designation of implementing agencies underscore the federal government’s commitment to this critical component of President Tinubu’s economic reforms.
As the project moves forward, Nigeria can expect improved trade processes, increased transparency, and a more business-friendly environment, paving the way for a brighter economic future for betterment of the Economy.