National Single Window Will Reduce Logistics Cost By 30%, Promote Nigeria’s Participation in AfCFTA – Igwe
Kingsley Igwe, Registrar and Chief Executive Officer of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) has described the National Single Window(NSW) as a mechanism to promote trade, reduce logistics costs by 30% and enhance Nigeria’s participation in the African Continental Free Trade Area (AfCFTA)
Delivering a keynote address at a stakeholders engagement forum in Lagos, Igwe said the NSW will serve as a game changer to bring Nigeria at par will fast growing economies, saving time and cost while ensuring transparency
According to him, the NSW in saving users time, will also minimize their cost of doing business to as much as thirty percent.
While urging stakeholders, especially importers,exporters and their agents to believe in the system and it’s inherent benefits, Igwe said it will further strengthen Nigeria’s participation in intra African trade under the AfCFTA.
Igwe mentioned countries like Rwanda where the single window is in use and has proven to improve trade and the economies of all countries utilising it
Also speaking at the forum,Tola Fakolade, Director in charge of the NSW Office, said the system will achieve data hamonisation, promote transparency, eliminate undue duplication and multiple submissions as the system shows online, real-time visibility of the status of entries.
Fakolade added that a centralized risk management system will easily help to detect where challenges are in the trade process, block leakages and could allow for faster solution to trade or security challenges
The NSW Director also said the system will serve as a one stop shop for common submission from traders and transmission to all government agencies thereby making import and export seamless as no data is allowed to be submitted more than ones
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