From Adanna Nnamani, Abuja
Nigeria’s drive for economic growth has won strong support from the International Monetary Fund (IMF). The IMF backs the country’s Single Window Trade Project, a bold plan to streamline trade, lift revenue, and boost Nigeria’s standing in Africa.
Mohammed Manga, spokesperson for the Ministry of Finance, shared this in a statement on Thursday. He said the IMF’s support came up during a meeting in Abuja. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, met with an IMF Fiscal Affairs Department team, led by Marco Antonio, Technical Assistance Advisor for Revenue Administration 2.
The meeting highlighted the IMF’s firm approval of the Single Window Trade Project. This initiative aims to simplify trade processes, increase government income, and make doing business easier in Nigeria.
Antonio praised the NSW project and other reforms. He asked how the IMF could help more to ensure it succeeds. Edun replied that the project is moving forward fast. Approvals are in place, a team is ready, and a clear plan is set.
Edun stressed the project’s power to spark export growth, especially as Nigeria targets 1.2 million barrels of daily oil production. He called it a game-changing tool for the economy. He credited President Tinubu’s leadership and the Nigeria Customs Service’s support as key drivers.
“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 said.