The Minister of Marine and Blue Economy, Adegboyega Oyetola, on Tuesday, said that the implementation of the National Single Window (NSW) would save the federal government over $3 billion in revenue leakages annually.
Oyetola who disclosed this at the NSW stakeholders’ forum, said that the system would address supply chain disruptions that affect over 70 per cent of logistics companies in Nigeria.
According to him, the system is strategically positioned to enhance transparency by reducing redundancies in the trade process, which will allow for the elimination of revenue leakages—an amount estimated to exceed $3 billion annually.
“We are committed to creating an enabling environment that fosters investor confidence, promotes transparency, and attracts the investment needed to unlock the full potential of our sector.
“We are advancing multimodal connectivity by improving road, rail, and inland waterway links to and from the ports.
“These improvements aim to reduce transportation costs, enhance logistics, and boost trade. For example, the Ministry in collaboration with the Lagos State Government, cleared the age-long Apapa – Tincan – Mile 2 traffic for landside operations and provided tugboats, mooring boats, pilot cutters, bollards, and fenders across all port locations for effective seaside operations,” he said.
