FG aims 25% cut in port costs via single window

The Federal Government has stated plans to implement the National Single Window (NSW) to reduce the cost of doing business in Nigerian ports by at least 25 per cent.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this at a stakeholders’ forum on the establishment of the NSW in Lagos on Tuesday.

He said that the implementation of NSW could enhance efficiency, therefore reducing these costs by at least 25 per cent.

The News Agency of Nigerian (NAN report that the World Bank had said that the cost of doing business at Nigerian ports could be up to 40 per cent.

This is higher than what is obtained in some West African countries and due to delays and administrative bottlenecks, leading to an estimated annual revenue loss of N2.5 trillion within the business community.

“By streamlining operations, improving transparency, and minimising delays, the system not only drives cost savings, but also strengthens overall trade facilitation.

“The cumulative impact across all areas include reduced costs, enhanced efficiency and greater transparency, ultimately contributing to the overall ease of doing business,” he said.

Oyetola, however, stated that the federal government had been prioritising multimodal connectivity to boost trade and reduce transportation cost.

According to him, the present administration is advancing multimodal connectivity by improving road, rail and inland waterway links to and from the ports.

The minister said that these improvements were targeted at reducing transportation costs, enhancing logistics and boosting trade.

Oyetola said that 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.

“We maximised crane productivity and ensured a reduced transit time for vessels and trucks. These led to a reduction in both the vessel and truck turn-around times.

“The vessel turn-around-time went down from an average of seven days to an average of five days, while truck turn-around-time went from an average of 10 days to a few hours.

“However, we are not resting on our oars, as our ultimate goal is to make Nigeria the hub of maritime in West Africa,” he said.

He cited that with an expansive coastline of 853 kilometers and a maritime area of over 46,000 square kilometers, Nigeria is strategically positioned to leverage these resources for sustainable economic growth.

“The marine and blue economy holds immense potential to contribute significantly to our GDP, create thousands of jobs, and drive regional and global trade.

“Despite its immense potential, the marine and blue economy faces challenges such as inefficiencies in port operations, bureaucratic obstacles and insufficient coordination among stakeholders, which have impeded its growth.

“Addressing these challenges requires an efficient, integrated, and secure logistics ecosystem—a goal that the National Single Window system is poised to enable,” he stressed.