Money Radio: EP 59 – How Nigeria Loses N1.08trn Annually To Multiple Documentation At Ports

Due to the lack of a single, simple, one-stop shop for the processing of documentation at Nigerian ports, the country loses an estimated N1.08 trillion annually. The National Single Window system has been achieved in many countries, including ECOWAS countries, which compete with Nigeria. Nigeria has failed to do the same, since initially putting the issue on the front burner in 2003. As a result, many imports prefer neighbouring countries to import their goods to Nigeria, which results in loss of revenues, loss of employment opportunities for Nigerians, as well as loss of manhours.                                                                                                        What can Nigeria do to improve the system?