The Committee comprises representatives of the Federal Ministry of Finance, representatives of the Marine and Blue Economy, the Federal Ministry of Transportation, the Federal Ministry of Trade and Investment as well as Federal Inland Revenue Service.
Also on the Committee are representatives of the Nigerian Customs Service, Nigeria Sovereign Investment Authority, NSIA, the Central Bank of Nigeria, the National Agency for Food and Drug Administration and Control, NAFDAC, the Standards Organization of Nigeria, the Nigerian Maritime Administration on Safety Agency, NIMASA, Nigerian Ports Authority, NPA, and the Presidential Enabling Business Environment Council, PEBEC.
President Tinubu, during the inauguration
at the Presidential Villa in Abuja, charged them to check infractions in the nation’s import and export value chain, and to bridge the over $4 billion in losses owing to bureaucratic bottlenecks at the ports.
The National Single Window project is expected to facilitate a paperless trade volume of $ 2.7 billion to the country.
▪︎ Seaports
Tinubu told the Committee that the country cannot afford to lose an estimated $4 billion annually to bureaucracy, delays and corruption.
He noted that it was time for Nigeria to join the ranks of countries like Singapore, Korea, Kenya and Saudi Arabia that have experienced significant improvement in trade efficiency after implementing a single window system.
Tinubu said he was optimistic that through the newly launched project, Nigeria will expedite cargo movement and optimize inter-African trade.
He added that the initiative is a testament to his administration’s commitment to regional integration and collaboration.
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