FG Aims for 25% Reduction in Port Operating Costs with National Single Window Initiative

The Nigerian Federal Government has announced plans to implement the National Single Window (NSW) system to streamline trade processes and reduce the cost of doing business in Nigerian ports by at least 25%. This initiative is aimed at tackling the inefficiencies, delays, and administrative bottlenecks that have caused Nigeria’s port operations to be up to 40% more expensive than those in other West African countries, resulting in a yearly loss of N2.5 trillion in revenue.

At a stakeholders’ forum in Lagos, Minister of Marine and Blue Economy, Adeboyega Oyetola, emphasized that the NSW system would improve efficiency, reduce costs, and enhance transparency, thus boosting trade facilitation. The system would connect all stakeholders in foreign trade and allow them to perform trade procedures on a single platform, promoting smoother operations. Oyetola also highlighted the federal government’s focus on multimodal connectivity to enhance logistics and reduce transportation costs, including the improvement of road, rail, and inland waterways.

The initiative also aligns with Nigeria’s broader goals to modernize port facilities and improve trade efficiency. The Nigerian Ports Authority (NPA) has been proactive in adopting ICT and has already made progress with the Port Community System (PCS), which is the precursor to the NSW. The NPA’s leadership in this area aims to position Nigeria as the leading transshipment hub in West Africa, addressing current infrastructure challenges and competition from neighboring ports.

The NSW is expected to enhance Nigeria’s competitiveness in global trade, generate employment, and contribute to the growth of the marine and blue economy, which has immense untapped potential.

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