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NSW Eyes ₦600bn Yearly Revenue

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NSW Eyes ₦600bn Yearly Revenue

byRosemary Ani Pius
October 13, 2025
in Business
0

A maritime research body, the (SEREC),Sea Empowerment and Research Centre (SEREC), has disclosed that the full deployment of the National Single Window (NSW) system could raise the Nigeria Customs Service’s annual revenue by 10–20%, amounting to between ₦600 billion and ₦1.2 trillion in additional income.

The group further noted that the initiative could shorten cargo dwell time by 35–45%, saving the private sector ₦300–₦400 billion yearly in logistics and demurrage expenses. This was revealed by SEREC’s Head of Research, Eugene Nweke, in a statement shared with The PUNCH over the weekend.

The National Single Window is a digital trade platform designed to unify all trade-related documentation and processes into one central system. It enables traders, regulators, and service providers to interact efficiently through a single interface. Rather than multiple agencies operating independently and relying on paper-based submissions, the NSW links Customs, banks, port operators, freight forwarders, and other stakeholders in a transparent and interoperable digital network. This allows importers and exporters to submit documents once for simultaneous processing by all relevant authorities,streamlining approvals, permits, inspections, and payments in real time.

Describing the NSW as a major milestone in customs modernisation and trade facilitation, SEREC projected that its full implementation could cut trade transaction costs by 20–25%, strengthen Nigeria’s global logistics competitiveness, and boost the ease of doing business.

However, the group cautioned that the current fragmented system costs Nigeria an estimated ₦500–₦900 billion annually through revenue leakages, administrative duplication, and productivity losses. It warned that the lack of a unified trade platform has diverted regional trade advantages to neighbouring ports in Cotonou, Lome, and Tema, which already operate digitally integrated systems.

SEREC also projected that a functional NSW could create over 100,000 jobs, both directly and indirectly, across ICT, logistics, and data management sectors. The group added that improved port transparency could attract $2–$3 billion in private investment within five years and raise the maritime sector’s GDP contribution by as much as 1.5%.

The organisation stressed that the success of the NSW will depend not only on technology but also on good governance and institutional integrity. It lamented that previous efforts to establish a unified trade system failed due to inter-agency rivalry, weak implementation, and vested interests, urging that the upcoming NSW be treated as a national economic reform, not merely an automation exercise.

SEREC encouraged the National Trade Facilitation Committee and the Nigeria Customs Service to ensure that the B’Odogwu platform evolves into a strong, interoperable foundation for Nigeria’s trade ecosystem. It also lauded the Federal Government for creating an Independent NSW Secretariat, while calling for clear rules of engagement to prevent dominance by any agency and ensure operational transparency.

Speaking at the NSW Stakeholders Engagement Forum in Lagos, the Registrar of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), Mr. Kingsley Igwe, noted that full implementation of the NSW could reduce logistics costs by 25–30%. He described the initiative as a “transformational project” that could simplify trade operations and cement Nigeria’s position as the gateway to West and Central Africa.

Igwe added that freight forwarders, port operators, and transporters would benefit from reduced paperwork, faster clearance, and predictable operations, resulting in lower costs and greater efficiency. He concluded by emphasising that trade facilitation should take priority over revenue collection, as “efficiency naturally drives growth.”

Rosemary Ani Pius

Rosemary Ani Pius

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