Streamlining Trade: FAAN Advocates National Single Window Initiative

Nosa Osula-Aituamen

The Federal Airports Authority of Nigeria, FAAN, says, it is championing the adoption of the National Single Window initiative due to its transformative potential for Nigeria’s trade landscape.

Speaking at the National Single Window Conference in Lagos, Managing Director, FAAN, Mrs. Olubunmi Kuku, said, the Single Window initiative is critical in helping Nigeria capture a larger share of the global trade, which is valued at over $8 trillion annually.

“According to the International Air Transport Association (IATA), air cargo facilitates the transportation of goods worth over $8 trillion annually, accounting for about 33% of global trade by volume”.

The initiative according to her, aims to streamline trade processes, eliminate bureaucratic bottlenecks, and improve the ease of doing business.

Embracing this initiative, Mrs. Kuku stressed include efficiency, transparency, cost savings, compliance, and strengthened global relationships.

“Why is the Single Window initiative critical at this moment in our economic growth?It serves as an innovative digital platform that seamlessly integrates government agencies, private stakeholders, and financial institutions”.

“This collaboration streamlines trade processes and eliminates the bureaucratic bottlenecks that have long hindered progress”.

She however noted that, challenges still exist, including fragmentation among agencies and reluctance to collaborate, emphasizing the importance of teamwork and collaboration, stating that no agency or stakeholder can succeed alone.

Mrs Kuku said, the time for decisive action is now as adopting the Single Window initiative presents a unique opportunity for Nigeria to unite under a shared vision of efficiency, growth, and prosperity.

The FAAN boss maintained that, the successful implementation of this system will undoubtedly lead to increased trade volumes, resulting in greater revenue for all involved stakeholders.

The National Single Window Conference, brought together stakeholders to explore the transformative potential of the Single Window initiative in enhancing trade facilitation and positioning Nigeria as a powerhouse in the global economy.