By Providence Ayanfeoluwa
There are projections that a fully operational National Single Window, NSW could boost Customs revenue by 10 to 20 percent annually, yielding between N600 billion and N1.2 trillion in additional earnings.
The Sea Empowerment And Research Center, SEREC made the projection in a bulletin titled: “Nigeria’s Path Toward Seamless Cargo Clearance: The Imperative of a Functional NSW”, made available to Vanguard.
The bulletin which was signed by Head of Research at SEREC, Fwdr. Eugene Nweke, projected that by reducing cargo dwell time by 35 to 45 percent, logistics and demurrage savings for the private sector are estimated at N300 to N400 billion annually.
He said overall trade transaction costs could drop by 20 to 25 percent, enhancing Nigeria’s global logistics competitiveness index and easing the cost of doing business.
Following the trillion naira annual growth of revenue collections of customs, Nweke said that the fiscal reality underscores the urgency of getting the NSW right, saying: “This strong revenue trajectory shows Nigeria Customs’ determination. Yet, without a seamless, transparent digital backbone, efficiency leakages, compliance gaps, and overlapping bureaucracy continue to erode the full potential of these figures, especially, in the face of low imports – cargo traffics.
On the contrary, he said that the cost of non-Implementation is the absence of a unified NSW, as it continues to push regional competitiveness toward neighbouring ports in Cotonou, Lome, and Tema, which already operate harmonized digital trade platforms.
His words: “Current system inefficiencies are estimated to cost Nigeria N500 to N900 billion annually, in unrealized revenue, administrative duplication, and lost productivity.
“A robust NSW ecosystem is projected to create over 100,000 direct and indirect jobs in ICT, logistics, and data management. Enhanced predictability and port transparency could attract $2 to $3 billion in private logistics and maritime investments within five years, expanding GDP contribution from the maritime sector by up to 1.5 percent.
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