Nigerian may lose out from benefiting from the $1trillion annual gain on implementation of the Trade Facilitation Agreement (TFA) due to a non-functional National Trade Platform (NTP) at the nation's seaports.
The NTP also known as the National Single Window system is a trade facilitation idea which enables international (cross-border) traders to submit regulatory documents at a single location and/or single entity.
However, the non-availability of the NTP has affected efficiency of Nigerian seaports and trade facilitation, emerging as an important subject in the world trading system.
But, speaking at the Sub Regional Workshop and Joint Standing Committee Meeting of the Union of African Shippers' Council (UASC), which is hosted by the Nigerian Shippers' Council in Abuja yesterday, the Minister of Transportation; Mr Rotimi Amaechi bemoaned Nigeria lack of National Trade platform.
Delegates from 19 countries across Africa participated in the conference.
According to him, Nigeria is the only country in West Africa without a National Trade Platform.
He said,”Nigeria has not been able to create a National Trade Platform which allows you to clear cargoes in 24hours. It is rather unfortunate that Nigeria is the only country in West Africa that is yet to get the platform."
The minister also stated that the current administration has made remarkable progress in the development of trade support infrastructure in the country.
"The federal government of Nigeria has made remarkable progress in the development of trade support infrastructure such as Railways, Roads and other facilities."
"We are establishing Inland Dry Ports and Truck Transit Parks in several locations across the country to bring shipping closer to service users in the hinterlands”, he told the participants
Also speaking, the Chairman Governing Board of Shippers Council, Alhaji Mai Mala Buni said efficiency, competitiveness, cost reduction and fair trade practices between providers and users of port services are germane to the holistic implementation of Port reform and ports concession in the sub-region.
Buni who was represented by Alhaji Lawal Samaila said, "With trade facilitation emerging as an important subject in the world trading system and WTO Trade Facilitation Agreements (TFA) coming into force on 22nd February 2017. It is heartwarming that many countries in the West and Central Africa sub-region have ratified the TFA.
"It is expected that the full implementation of TFA could reduce the cost by as much as 14.3 percent and boost go ballistic trade by up to $1trillion annually with the biggest gains accruing to the poorest countries."
Speaking on the sideline of the event, the Executive Secretary of the Nigeria Shippers' Council, Mr Hassan Bello said lack of single window affect the efficiency of the seaports.
Bello said single window will eliminate inefficiencies and lead to simplification of documents and short dwell time of cargoes at the seaports.
He said, "it has affected the efficiency of our port because the national single window is a trade facilitation platforms preferably electronic that will bring all users and providers of shipping services together. Single window will eliminate inefficiencies and lead to simplification of documentation”.
Bello further stated that the implementation of Cargo Tracking Note and National Single Window would increase trade facilitation and drive down the cost of shipping and clearance.
He however disclosed that, "the federal ministry of transportation is overseeing the Single window and already there is a committee set up by the vice president, Prof. Yemi Osinbajo to look at this national single window which is being chaired by the NPA and the Nigerian Customs Service and the Nigerian Shippers Council is also a member."
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