The Federal Inland Revenue Service (FIRS) has stated that the country will record an average of 7 per cent growth in its annual Gross Domestic Product (GDP) with the newly inaugurated National Single Window (NSW).
Chairman of FIRS, Zacch Adedeji made this known on Tuesday during the inauguration of the project and the steering committee members in Abuja.
The NSW, domiciled at the FIRS, is an electronic portal that links all agencies and players in import and export processes to an integrated platform.
He the project aligns with President Bola Tinubu’s commitment to stimulating the economy, adding that it would go a long way in unlocking the country’s true potential.
“By simplifying the government trade compliance process through a cutting-edge digital platform, we will unlock a myriad of economic benefits.
“This initiative will serve as a catalyst for achieving an average GDP growth rate of 7 percent annually, propelling Nigeria to new heights of prosperity,” he stated.
Adedeji pointed out that the heavy costs, delays, and inefficiencies at the nation’s ports have been a constant burden, adding that it is estimated that a staggering $4 billion annually is lost due to these inefficiencies.
He further noted that by addressing revenue leakage prevention and facilitating effective trade, Nigeria will reclaim these lost resources and channel them towards the betterment of our society.
