Nigeria will launch a key digital platform on Friday to streamline imports and exports in a “game changer” for trade in the West \u200bAfrican nation, Minister of Trade and Investment Jumoke Oduwole told Reuters.<\/p>\n
\u200cThe first phase of Nigeria’s National Single Window – a centralised electronic trade platform aimed at drastically slashing red tape and time for importers and exporters – is scheduled to go \u200blive on Friday. It will include one shipping line and one port.<\/p>\n
“These are \u200bthe kinds of game changers in terms of trade facilitation \u2060that we need,” Oduwole said, adding that it is a priority project \u200bfor an economy of Nigeria’s size that is working to emphasize trading.<\/p>\n
The \u200bproject is part of President Bola Tinubu’s reform agenda that has also included tax architecture and fiscal reforms, Oduwole said. Britain and Nigeria last week announced a\u00a0746 million pound ($1 billion) export \u200bfinance deal\u00a0to fund the redevelopment of two trading ports.<\/p>\n
Oduwole said \u200bstreamlining imports and exports at the ports could have a “multiplier effect” in terms of balance \u200cof \u2060trade and foreign exchange generation.<\/p>\n
Nigerian port inefficiencies add significantly to costs. SBM Intelligence analysts have said that the average cost of bringing goods from Europe to warehouses within the port city limits in Lagos are five times the comparable \u200bcosts in South Africa \u200band three \u2060times those in Ghana.<\/p>\n
Asked whether Nigeria would go ahead with a free trade deal with China, she said “we’re \u200bstill looking at all the options, and then we’ll see.”<\/p>\n
Asked about \u2060the fallout from the Middle East conflict on emerging economies and the cost of capital, Oduwole said it will take time to see how markets react.<\/p>\n
“Everybody’s a bit \u2060nervous \u200bat a point, but we really pray that \u200bit’s over soon and that markets can stabilize and investors can again get that confidence of \u200bstability.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria will launch a key digital platform on Friday to streamline imports and exports in a “game changer” for trade in the West \u200bAfrican nation, Minister of Trade and Investment Jumoke Oduwole told Reuters. \u200cThe first phase of Nigeria’s National Single Window – a centralised electronic trade platform aimed at drastically slashing red tape and […]<\/p>\n","protected":false},"author":1,"featured_media":20265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":6,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,27],"tags":[3730,175],"class_list":["post-20264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-west-africa","tag-jumoke-oduwole","tag-nigeria"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=20264"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20264\/revisions"}],"predecessor-version":[{"id":20266,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20264\/revisions\/20266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/20265"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=20264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=20264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=20264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}