President Bola Tinubu has launched the Single Window Project, a new website that will further facilitate Nigeria’s international trade.
The project was launched in Abuja, the nation’s capital on Tuesday.
President Tinubu while inaugurating the national portal said the country could save close to $4 billion annually.
The Single Window project is a cross-government website, which according to the president would expedite cargo movement and optimise inter-African trade, thereby facilitating $2.7bn worth of annual paperless trade.
Tinubu stated: “We cannot afford to lose an estimated $4bn annually to red tape, bureaucracy, delays and corruption at our ports.
“The benefits of this initiative are immense. The paperless trade alone is estimated to bring an annual economic benefit of around $2.7bn US dollars.
“Countries like Singapore, Korea, Kenya and Saudi Arabia have already seen significant improvement in trade efficiency after implementing Single Window Systems. It is time for Nigeria to join their ranks and reap the reward of a streamlined, decentralised trade process.”
