Ndubuisi Francis in Abuja

The International Monetary Fund (IMF) has expressed support for Nigeria’s Single Window (NSW) Project, an evolving initiative designed to streamline trade processes, reduce bottlenecks, enhance transparency, and increase government revenue.

IMF’s backing for the NSW project was conveyed on Thursday in Abuja by its Technical Assistance Advisor for Revenue Administration 2, Marco Antonio.

Antonio led a delegation from the IMF Fiscal Affairs Department to a meeting with the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The meeting highlighted IMF’s strong support for the Single Window Trade Project, which aims to streamline trade processes, increase government revenue, and enhance the ease of doing business.

Antonio praised the NSW project, among other reforms, and sought to know how the multilateral lender could provide further assistance for its successful implementation.

According to a statement released by the finance ministry’s Director, Information and Public Relations, Mohammed Manga, the minister disclosed that the project was well underway, with approvals secured, a dedicated team in place, and a structured implementation plan.

He underscored the initiative’s potential to catalyse export growth, particularly with Nigeria on course to achieve 1.2 million barrels of daily oil production.

Describing the project as a transformative economic tool, Edun reiterated the government’s commitment to its success, citing the strategic leadership of President Bola Tinubu and the support of the Nigeria Customs Service as key to its execution.

The statement said, “As Nigeria continues on its path to economic transformation, the Single Window Trade Project is poised to play a pivotal role.

“With the IMF’s endorsement, this initiative is expected to enhance trade efficiency, increase revenue, and stimulate economic growth, positioning Nigeria as a beacon of trade excellence in Africa.”

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