Connect with us

News

Tinubu launches National single window initiative to enhance revenue generation 

President Bola Tinubu on Tuesday launched the National Single Window initiative, a transformative project that will propel the nation’s economy to new heights.

The initiative is another bold testament to the President’s commitment to breaking long-standing developmental barriers in advancing the progress, prosperity, and well-being of every Nigerian.

Speaking at the launch of the initiative at the State House, President Tinubu said the National Single Window is a game-changer that will revolutionize the way trade is conducted in the country, and with the Office of the President overseeing the steering committee that will drive the reform process forward.

Outlining the benefits of the initiative, the President said by simplifying government trade compliance through a digital platform, Nigeria will unlock the doors to economic prosperity, adding: “This initiative will link our ports, government agencies, and key stakeholders, creating a seamless and efficient system that will facilitate trade like never before.”

The President further explained that paperless trade alone is estimated to bring an annual economic benefit of around $2.7 billion, noting that countries like Singapore, South Korea, Kenya, and Saudi Arabia have already seen significant improvements in trade efficiency after implementing Single Window systems.

“It is time for Nigeria to join their ranks and reap the rewards of a streamlined, digitized trade process. As your President, I have always believed in the immense potential of our great nation. We are a people blessed with resilience, creativity, and an unwavering spirit of enterprise. However, for far too long, our economic growth has been hindered by existing complexities and inefficiencies in our trade processes. Today, we say no more!

“Imagine a Nigeria where businesses can save time and resources, where small enterprises can reach global markets, and where the informal eCommerce sector is brought into the fold, increasing our tax revenue base. This is the Nigeria we are building with the National Single Window.

“We cannot afford to lose an estimated $4 billion annually due to red tape, delays, and corruption at our ports.

“The National Single Window will address these issues head-on, preventing revenue leakage and facilitating effective trade. By doing so, we will create a more transparent, secure, and business-friendly environment that will attract investment and spur economic growth,” the President said.

President Tinubu emphasized that the implementation of the National Single Window would not be an overnight process as it would require dedication, collaboration, and a phased approach in view of continental ramifications that extend far beyond national development imperatives alone.

“I assure you, my fellow Nigerians, that we are fully committed to seeing this project through. We will work tirelessly to ensure its success, engaging with all partner agencies and stakeholders to create a system that works for everyone.

“Moreover, the National Single Window is not just about Nigeria. By linking our system with those of other African nations, we will expedite cargo movement and optimize intra-Africa trade. This initiative is a testament to our commitment to regional integration and our belief in the power of collaboration.

“I call upon every Nigerian to embrace this initiative with open arms. Let us work together, as one nation, to make the National Single Window a resounding success. Let us show the world that Nigeria is ready to take its rightful place as a leader in global trade.

“Together, we will build a Nigeria that is stronger, more prosperous, and more united than ever before. The National Single Window is our gateway to that future, and I am honoured to lead us on this transformative journey,” the President concluded.

Explaining the fundamentals of the project, Mr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), said data harmonization is a crucial component of the initiative, which involves enabling efficient capture, definition, analysis, and reconciliation of regulatory trade documents within one unified technological mechanism.

“We will reduce barriers to efficient timing, improve economic metrics, increase transparency, reduce trade costs, and boost revenue. The implementation plan will be carefully crafted with short-term, medium-term, and long-term phases to ensure a smooth and effective rollout.

“The success of this project hinges on the unwavering commitment and collaboration of all stakeholders. It requires strong government participation and engagement from all partner agencies. Together, we will work tirelessly to overcome any obstacle and ensure the seamless implementation of the National Single Window project.

“We are ushering in a new wave of economic prosperity, efficiency, and boundless opportunities.

“The National Single Window is not just a project. It is a symbol of our collective aspiration and our determination to build a better Nigeria for all of our people,” the FIRS Chairman said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Bauchi SSG resigns, Gov Mohammed announces replacement

The Secretary to the State Government (SSG) of Bauchi State, Mr Ibrahim Kashim has resigned with immediate effect.

The State Governor, Bala Mohammed has accepted the resignation and announced Mr Aminu Gamawa as his replacement.

This is contained in a statement by Mr Mukhtar Gidado, the Special Adviser to the governor on Media and Publicity in Bauchi on Friday.

Until replacing Kashim as SSG, it was gathered that Gamawa was the Chief of Staff, Government House. He was directed by the Governor to take over as SSG with immediate effect in an acting capacity.

“Governor Bala Mohammed has accepted the resignation of the Secretary to the State Government, Mr Ibrahim Kashim with immediate effect .

“The Chief of Staff, Government House, Bauchi, Mr Aminu Gamawa, has been directed to take over from him in an acting capacity.

“Governor Mohammed, on behalf of the government and the people of Bauchi State, thanked him for the services he rendered to the State and wished him well in his future endeavors,” the statement reads

Continue Reading

News

U.S. returnee arrested at Lagos airport for duping 139 Australians

The Economic and Financial Crimes Commission (EFCC) has arrested a suspected online fraudster known as Osang Otukpa for allegedly duping 139 Australians to the tune of eight million Australian dollars.

Otukpa was arrested by EFCC operatives in a stakeout at the Murtala Mohammed International Airport, Ikeja, after arriving from the United States of America on December 6.

“Otukpa goes by five aliases, namely: Ford Thompson, Oscar Donald Tyler, Michael Haye, Jose Vitto and Kristin Davidson.

“He scammed his victims by luring them on social media to invest in his rogue cryptocurrency investment platform, Liquid Asset Group (LAG).

“The proceeds of the alleged crimes were routed to his bank accounts through a global cryptocurrency exchange platform,” a statement by EFCC’s spokesperson, Dele Oyewale on Friday in Abuja reads.

Oyewale said that the suspect would be charged to court upon the conclusion of investigations.

Continue Reading

News

Ex-kogi Deputy Speaker is dead

The immediate past Deputy Speaker of the Kogi State House of Assembly, Hon Enema Paul, is dead.

He died of an undisclosed illness in Abuja at a private hospital in the early hours of Saturday.

Before his death, Hon Paul was the member representing Okura State Constituency in the current 8th Assembly in Kogi State.

Hon Paul stepped down as Kogi State Deputy Speaker on health grounds, and he was later replaced by the member representing Ibaji State Constituency, Hon. Comfort Ojoma Nwuchiola.

Meanwhile, the Speaker of the Kogi State House of Assembly, Rt Hon Aliyu Umar Yusuf, has commiserated with the family of the former Deputy Speaker of the Assembly, Rt. Hon. Enema Paul, whose demise was announced early Saturday.

This is contained in a press statement signed and made available to journalists in Lokoja by the Chief Press Secretary to the Speaker, Yabagi Mohammed.

He described the deceased Assembly member as a friend, temperate, humble, team-playing, committed lawmaker, and public servant.

According to Rt Hon Umar, the former Deputy Speaker was a man who exemplified commitment to the unity of the state, having demonstrated a genuine desire to enhance pro-people legislation for overall development.

He noted that the late Enema Paul was also a devoted Christian who saw beyond religion and whose godliness and commitment to family values were unquestionable.

The Speaker prayed to God to grant the immediate family and members of the current and immediate past Assembly the fortitude to bear the huge loss.

Continue Reading
Advertisement

Trending