IMF Endorses Nigeria’s Single Window Trade Project

• IMF has expressed support for Nigeria’s Single Window Trade Project, aimed at streamlining trade processes and increasing government revenue.

• The project, which has secured necessary approvals and has a dedicated team in place, is expected to enhance trade efficiency, increase revenue, and stimulate economic growth.

The International Monetary Fund (IMF) has indicated its support for Nigeria’s Single Window Trade Project, an initiative aimed at streamlining trade processes, increasing revenue, and enhancing the ease of doing business.

This was made known during a meeting between the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and a delegation from the IMF Fiscal Affairs Department, led by Marco Antonio, Technical Assistance Advisor for Revenue Administration 2.

According to Mohammed Manga, Director, Information and Public Relations, the meeting highlighted the IMF’s strong support for the Single Window Trade Project.

Antonio praised the project, recognizing it as a critical step in Nigeria’s ongoing economic reforms, and inquired about how the IMF could provide further assistance for its successful implementation.

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Edun assured the delegation that the project is well underway, with approvals secured, a dedicated team in place, and a structured implementation plan.

He emphasized the initiative’s potential to catalyze export growth, particularly with Nigeria on course to achieve 1.2 million barrels of daily oil production.

“As Nigeria continues on its path to economic transformation, the Single Window Trade Project is poised to play a pivotal role. With the IMF’s endorsement, this initiative is expected to enhance trade efficiency, increase revenue, and stimulate economic growth, positioning Nigeria as a beacon of trade excellence in Africa,” Manga stated.