The International Monetary Fund (IMF) has reaffirmed its support for Nigeria’s Single Window Trade Project as part of the country’s broader economic reforms. This was disclosed during a high-level meeting between the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and a delegation from the IMF Fiscal Affairs Department, led by Marco Antonio, Technical Assistance Advisor for Revenue Administration 2.
A statement from the Ministry of Finance on Wednesday highlighted that the IMF delegation commended the initiative, recognizing its potential to streamline trade processes, enhance government revenue, and improve the ease of doing business in Nigeria. Antonio specifically praised the progress made on the project and inquired about areas where the IMF could provide further assistance to ensure its successful implementation.
Minister Edun assured the delegation that the project is already well underway, with all necessary approvals secured, a dedicated team assembled, and a structured implementation framework in place. He emphasized that the initiative aligns with the government’s strategic economic policies and is poised to facilitate export growth, particularly as Nigeria advances towards achieving a daily oil production target of 1.2 million barrels.
Describing the Single Window Trade Project as a transformative tool for economic development, Edun reiterated the unwavering commitment of President Bola Ahmed Tinubu’s administration to its success. He stressed that the initiative’s execution is being bolstered by the strategic leadership of the presidency and the active support of the Nigeria Customs Service, ensuring seamless coordination and implementation.
The IMF’s endorsement of the Single Window Trade Project underscores the confidence of international financial institutions in Nigeria’s ongoing economic reforms. As the government continues to implement bold initiatives to foster economic resilience and transparency, the partnership with the IMF is expected to further strengthen Nigeria’s position as a key player in global trade and investment.