President Bola Ahmed Tinubu has launched the National Single Window Project in order to enhance revenue and ease of doing business in Nigeria.
Speaking at the launching, the President said that the initiative will connect the ports, government agencies, and key stakeholders, creating a seamless and efficient system that will facilitate trade like never before.
Speaking further about the numerous benefits of the National Single Window Project, the president explained that the initiative aims to tackle issues of bureaucracy, delays, and corruption at our ports, which are estimated to cost the country around 4 billion US dollars annually.
The president also highlighted the paperless trade as the most significant benefit, which is estimated to bring an annual economic profit of approximately $2.7 billion.
He cited Singapore, Korea, Kenya, and Saudi Arabia as countries that have already seen significant improvement in their trade efficiency after implementing Single Window Systems.
The president urged that it is time for Nigeria to follow suit and adopt a streamlined, decentralized trade process to reap similar benefits and improve overall efficiency.
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
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