FG Reaffirms Commitment to National Single Window to Boost Trade Efficiency and Curb Revenue Leakages

The Federal Government has reiterated its dedication to implementing the National Single Window (NSW) initiative—an integrated trade facilitation system designed to enhance transparency, curb revenue leakages, and improve the efficiency of international trade operations.

During a briefing before the National Assembly Joint Committee on Customs and Tariffs, chaired by Senator Isah Jibrin (APC, Kogi East), the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighted the critical role of Customs revenue in supporting both federal and state finances.

“Customs revenue remains a vital pillar of the Federation Account, and we are focused on boosting it by streamlining processes and sealing revenue leakages,” Edun stated.

He emphasized that the Tinubu administration is committed to addressing structural imbalances in the economy, especially in the wake of fuel subsidy removal and the adoption of a market-driven exchange rate regime.

“Price equalization is the most practical method for managing market fluctuations and ensuring fair competition,” he said.

Edun also acknowledged inefficiencies in Nigeria’s trade payment system, noting that a large portion of transactions still occur through informal channels. He revealed that the government is considering reforms to promote transparency, including the potential use of the naira for import and crude oil transactions.

“A significant share of trade happens outside formal systems. We are developing reforms to address this,” he added.

On the rise of digital commerce, Edun expressed concern over youth-driven digital payment platforms that operate outside the regulatory framework. He underscored the importance of integrating such platforms under the oversight of financial regulators to ensure accountability and formal economic inclusion.

The National Single Window, once fully implemented, is expected to simplify trade documentation, cut port processing times, eliminate redundancies, and elevate Nigeria’s global trade competitiveness.

The National Assembly committee praised the minister’s efforts and assured him of legislative backing to accelerate the framework needed for the initiative’s successful implementation.