The Federal Government has reiterated its resolve to swiftly implement the National Single Window initiative—one of the key policies of President Bola Tinubu’s administration.

This was disclosed on Monday by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a session with the National Assembly Joint Committee on Customs and Tariffs.

He stated that the government is committed to modernising trade processes, boosting customs revenue, and integrating informal transactions into the formal economy.

Edun said, “We will soon implement one of the legacy projects of His Excellency, Mr. President, and that is the National Single Window. It will address trade facilitation, port community systems, and block leakages in revenue. This system will bring speed and efficiency to international trade transactions and complement other economic reforms.

“The National Single Window is a digital trade facilitation platform that aims to integrate all government agencies involved in the trade process. When fully operational, it is expected to significantly reduce processing time for cargo clearance, enhance transparency, and increase government revenue.”

The minister emphasized that boosting customs efficiency is essential to strengthening non-oil revenue generation.

He pointed out that the NCS is a key contributor to the Federation Account, and enhancing its performance is a national priority.

He said, “Customs revenue is significant and remains a major contributor to both federal and state governments. We are working towards achieving higher revenue through more efficient processes and by blocking loopholes and leakages.”

He also expressed concern over Nigeria’s trade settlement system, describing it as weighed down by informal transactions and operational inefficiencies.

The minister hinted at potential reforms that could permit imports—and possibly crude oil sales—to be settled in naira, a move aimed at easing pressure on the nation’s foreign exchange reserves.