IMF endorses Nigeria’s single window trade project amid economic reforms

Abdullateef Fowewe

The International Monetary Fund has expressed strong support for Nigeria’s Single Window Trade Project, a key initiative aimed at streamlining trade processes, boosting government revenue, and enhancing ease of doing business.

During a meeting with Nigeria’s Minister of Finance, Wale Edun, the Technical Assistance Advisor for Revenue Administration at the IMF, Marco Antonio, commended the project and discussed avenues for further assistance.

In a statement Dailyeconomy obtained from the Ministry of Finance on Wednesday, Antonio described the initiative as transformative, stating, “The Single Window Project is a significant step in advancing Nigeria’s economic reforms and improving trade efficiency.”

Edun in his remark highlighted that the project is on track with approvals secured and a dedicated team in place.

He emphasised its potential to drive export growth, particularly as Nigeria targets 1.2 million barrels of daily oil production.

Edun also credited President Tinubu’s leadership and the Nigeria Customs Service’s collaboration for the project’s progress.

“This initiative reflects our commitment to economic transformation and positions Nigeria as a hub for global trade,” he said.

“Minister Edun affirmed that the project is well underway, with approvals secured, a dedicated team in place, and a structured implementation plan. He underscored the initiative’s potential to catalyze 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 Tinubu and the support of the Nigeria Customs Service as key to its execution,” the statement reads.