In a move to revolutionise Nigeria’s trade and commerce, President Bola Tinubu has launched the National Single Window Project, which is expected to generate an annual economic benefit of approximately $2.7 billion from paperless trade alone.

The National Single Window Project is a cross-government initiative that aims to simplify trade processes, unlock economic potential, and position Nigeria as a global trade leader.
The project will create a single digital platform that links ports, government agencies, and stakeholders, enabling a seamless and efficient trade ecosystem.

“The National Single Window is a game-changer that will revolutionise the way we conduct trade,” said President Tinubu during the launch event at the State House in Abuja. ”
By simplifying government trade compliance through a digital platform, we will unlock the doors to economic prosperity and all other opportunities.”

The project is expected to reduce the time and cost of doing business in Nigeria, making it more attractive to foreign investors.

Additionally, the platform will enhance transparency and efficiency in the trade sector, which will help to reduce corruption and improve revenue collection for the government.

Tinubu said the project is expected to reduce the time and cost of doing business in Nigeria, making it more attractive to foreign investors. Additionally, the platform will enhance transparency and efficiency in the trade sector, which will help to reduce corruption and improve revenue collection for the government.

“The National Single Window is a game changer that will revolutionise the way we conduct trade. By simplifying government trade compliance through a digital platform, we will unlock the doors to economic prosperity and all other opportunities.

“This initiative will link our ports, government agencies and key stakeholders, creating a seamless and efficient system that will facilitate trade like never before. Imagine a Nigeria where business can save time and resources, where small enterprises can reach global markets and where the informal e-commerce sector is brought into the fold increasing our tax base. This is the Nigeria we are building with the National Single Window.

“The benefits of this initiative are immense. The paperless trade alone is estimated to bring an annual economic benefit of around $2.7 billion US dollars. Countries like Singapore, Korea Kenya and Saudi Arabia have already seen significant improvement in trade efficiency after implementing Single Window Systems.

“It is time for Nigeria to join their ranks and reap the reward of a streamlined, digitised trade process. We cannot afford to lose an estimated $4 billion annually to red tape, bureaucracy, delays and corruption at our ports.

“The National Single Window will address these issues headlong, preventing revenue leakage and facilitating effective trade. By doing so, we will create a more transparent, secure and business friendly environment that will attract investment and spur economic growth.

“The implementation of the National Single Window will not be an overnight process, I know. It requires dedication, collaboration and a phased approach. But I assure you my fellow brothers and sisters, that we are fully committed to seeing this project through.

“We work tirelessly to ensure its success by engaging all partner agencies and stakeholders to create a system that works for every one of us”, he said.

According to the chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, the implementation of the National Single Window Project is expected to generate an average GDP growth rate of seven per cent annually.

“The National Single Window is a decisive response to the challenges we face in the current international trade environment,” said Adedeji.

“By improving trade facilitation, revenue generation, economic growth, transparency, security, and streamlining processes, we will transform Nigeria into a global trade powerhouse.”

The National Single Window steering committee, which includes representatives from various government agencies and ministries, has set a target of 24-hour port clearance, significantly faster than the 72-to-48-hour range in neighbouring countries.

“Our aim is to streamline this process so that minimal information is entered, benefiting all government agencies involved in import and export procedures,” said Mohammed Bello-Koko, the Managing Director of the Nigerian Ports Authority.

Members of the National Single Window steering committee are: Representatives of the Ministries of Finance, Marine and Blue Economy, Transportation, Industry, Trade and Investment, Federal Inland Revenue Service, Nigerian Customs Service, Nigeria sovereign Investment Authority (NSIA).

Others are “ Central Bank of Nigeria (CBN), National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organization of Nigeria (SON), Nigerian Maritime Administration on Safety Agency (NIMASA), Nigerian Ports Authority (NPA) and Presidential Enabling Business Environment Council (PEBEC).

Dangote Petroleum Refinery has further slashed diesel prices, from N1,200 to N1,000 per litre, aiming to mitigate the escalating inflation rates in Nigeria.

This reduction follows a previous price cut three weeks ago when the refinery initially decreased its diesel price by over 30%, down from N1,600 to N1,200 per litre.

The refinery has described this decision as a strategic move expected to “this significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”

During an interview with newsmen, the Executive Director of the Dangote Group, Devakumar Edwin, emphasized the refinery’s robust output capabilities.

“We have substantial quantities. Products are being evacuated both by sea and road. Ships are lining up one after another to load diesel and aviation jet fuel. Ships load a minimum of 26 million litres, though we try to push for 37 million litres vessels, for ease of operations,” Edwin stated.

The announcement comes days after an APC chieftain in Osun State, Olatunbosun Oyintiloye, called on President Bola Tinubu to address what he termed excessively high diesel prices at the Dangote Petroleum Refinery.

In a press conference in Osogbo, Oyintiloye argued that, “as a domestically produced commodity, diesel prices should be significantly lower than those of imported counterparts.”

The family of the late MKO Abiola has distanced itself from the declaration of support for the Yoruba Nation agitators by one of the late billionaire’s widows, Dupe Onitiri-Abiola.

Naija News reports that Onitiri-Abiola had in a viral video on social media declared that the Democratic Republic of Yoruba came into existence on Friday, April 12, a day before the agitators invaded the Oyo State Government secretariat in Agodi, Ibadan.

Speaking in the Yoruba dialect, Onitiri-Abiola said, “We are indigenous people. We are sovereign people. We are ethnic nationalists. That we should leave Nigeria. Today, April 12, 2024, we leave with the power of God.

“I, Modupe Onitiri-Abiola, proclaim the sovereignty of the Democratic Republic of the Yoruba. From today, Yoruba land begins its government. It has become the newest nation. Yoruba became a country that nobody is against. This is hereby established. I, Modupe Onitire-Abiola, am an origin of Yoruba. I am MKO Abiola’s widow.”

However, reacting to Onitiri-Abiola declaration on behalf of the family, one of the late Abiola’s children, Jamiu told Punch that she was on her own.

Jamiu, who is currently the Special Assistant to the President on Special Duties, urged Nigerians not to take her proclamation as representing the family seriously.

He said, “I heard about that, and like almost all Nigerians, I didn’t take her (Onitiri-Abiola) declaration seriously. I have never met her in my life, talk less of knowing her motives. But that is not what is important.

“When it comes to Nigeria’s unity, many people know how much my father believed in it. Even after his arrest and incarceration, not once did he advocate for Nigeria’s division. So I don’t believe any Abiola has the right to promote the division of this country.

“Particularly now, because if my father were alive today, he would have been so happy that his closest and most highly competent associate, President Bola Ahmed Tinubu, is doing all he would have wanted to do if he had been allowed to exercise his mandate.”

He explained that the late MKO had four official wives “in addition to women who are also known as his wives.”

According to Jamiu, the late Abiola adopted certain kinds of relationships as a way of taking care of as many people as possible.

The Kaduna chapter of the All Progressives Congress (APC) has denied any intention to suspend the former governor of the state, Mallam Nasir El-Rufai.

Recent reports had suggested that El-Rufai would face suspension from the ruling party due to alleged anti-party activities.

However, the spokesperson for the APC in Kaduna, Salisu Wusono, addressed the speculations on Tuesday evening.

In a terse response to TheCable, Wusono dismissed the alleged plan to suspend the party chieftain, stating categorically that there is no such plan by the party leadership.

“Nothing like this!,” Wusono said.

It is worth noting that El-Rufai was recently seen with Abdul Ningi, a senator who was suspended for accusing the 2024 budget of being padded by approximately ₦3 trillion.

Additionally, El-Rufai paid a visit to the headquarters of the Social Democratic Party (SDP) in Abuja.

Naija News understands that these visits elicited debates on and off social media, as many speculated that the former governor was plotting a political move.

In a reaction earlier, the SDP national chair, Shehu Gabam, said political meanings should not be read into the SDP visit because he has known El-Rufai for quite some time.

He said: “My relationship with Mallam Nasir el-Rufai predates 1999. I knew him long before then, and we have been close.

“Coming to the SDP secretariat, I don’t know why it is so special that people misinterpret or interpret how it suits them. There are a lot of politicians of the APC that have visited me, and other parties have visited me.

“Do not forget that not too long ago, Al Mustapha came to my office and people were speculating that he is decamping to SDP.

“Will you be surprised if President Bola Tinubu visits SDP? He knows me and I know him.”

It is worth noting that El-Rufai played a major role in the merger that birthed the APC in the buildup to the 2015 polls.

However, the Kaduna State House of Assembly on Tuesday commenced a probe into “multi-million dollar loans” taken during the El-Rufai administration.

A former National Publicity Secretary of the Peoples Democratic Party (PDP), Kola Ologbondiyan, has shed light on why the party has not taken decisive disciplinary action against its former presidential aspirant and current Minister of the Federal Capital Territory (FCT), Nyesom Wike.

Wike’s recent appointment raised eyebrows within the party, fueling speculation about his possible alliance with the All Progressives Congress (APC) under President Bola Ahmed Tinubu.

Despite these concerns, the PDP has refrained from immediate punitive measures against the ex-Governor of Rivers State.

Addressing the media, Ologbondiyan clarified that the party is meticulously adhering to its established procedures.

“There’s a disciplinary committee whose responsibility it is to look extensively into the situation before deciding whether or not to sanction the FCT minister,” he explained, emphasizing that the party operates under a strict constitution that governs its internal affairs.

He said, “Let me start by saying that the constitution of the party provides for how the party should be managed. That has been clear from the onset. The responsibility of the day-to-day running of the party lies in the office of the national chairman.

“So in respect of the minister of the FCT, Nysom Wike, it’s about disciplinary action. And I can recall that under the leadership of Secondus, when the former Governor of Ebonyi State, (Dave) Umahi, started relating with the APC, a letter was written to him in form of a query and issued to him to explain to the party why he was rallying with the APC.

“So the constitution of the party provides for disciplinary measures. It’s not a mob. Somebody can’t rise from somewhere and carry wood and say ‘You are responsible for this and that.’

“So the purview of sanctioning is with the current working committee to consider your action this way or that. The party also has a disciplinary committee where matters of this nature are addressed.”

The ruling All Progressives Congress (APC) National Working Committee (NWC) has said that the Inspector General of the Nigeria Police Force, Kayode Egbetokun, has been informed about the purported suspension of its National Chairman, Abdullahi Ganduje.

The party executives maintained that non-APC members sponsored the suspension and that the perpetrators would be brought to justice upon police investigation.

The ruling party’s latest action was disclosed in a statement yesterday in Abuja by APC National Publicity Secretary Felix Morka.

According to Morka, the purported suspension of Ganduje is downright criminal and has no effect whatsoever. He asserted that the opposition party plotted the political event to create confusion with the APC.

The statement reads: “The attention of the All Progressives Congress (APC) has been drawn to media reports of the purported suspension of the National Chairman, HE Abdullahi Umar Ganduje, CON, from the party by the Executive Committee of the Ganduje Ward in the Dawakin Tofa Local Government Area of Kano State.

“The purported suspension was the devious act of a group of impersonators of ward officials out to cause mischief and create confusion in the otherwise peaceful Ganduje Ward chapter of our party. The perpetrators of this criminal act are not card-carrying members of APC in the ward but are individuals affiliated with senior officials and representatives of the NNPP.

“This act procured by officials of the ruling NNPP in Kano is part of the despicable programme of political persecution launched by the administration of Governor Abba Kabir Yusuf against Ganduje, a former Governor of Kano State.

“The purported suspension is downright criminal, and of no effect whatsoever. The legitimate Executive Committee of the Ganduje Ward has since denounced the action and reaffirmed Dr. Ganduje as a bonafide member of the Party in the Ward, and in good standing.”

Determined to unearth the mastermind behind the suspension, Morka said: “The party has filed a petition with the Inspector General of Police, requesting an expedited investigation of this matter and that the perpetrators and their sponsors be brought to justice.”

Earlier, the APC’s Kano State chapter warned party ward leaders who falsely declared the suspension of Ganduje, stating that they will face legal action.

During a press conference held in Kano yesterday, the ward chairman of the party in Ganduje’s area of residence, Alhaji Ahmed Mohammed Koko, declared that the party intends to sue the ward leaders for their involvement in “conspiracy, impersonation, and defamation”.

He said: “The purported suspension was null and void, and would have no any effect on the national chairman.

“The ward and local government executives, having identified the persons involved in this unfortunate situation, have already prepared to charge them to court for impersonation and calculated attempt to embarrass and dent the image of the party and that of the national chairman.

“We call on all party members to disregard the purported suspension and remain calm.”

Multiple video clips where Pascal Okechukwu, popularly known as Cubana chief priest, was seen abusing the Nigerian Naira have surfaced on social media after his arrest on Tuesday evening.

Naija News had earlier reported that Cubana chief priest was arrested on Tuesday evening for abusing the Naira.

His arrest came Naija News reported that the Economic and Financial Crimes Commission (EFCC) would arraign Cubana Chief Priest over alleged abuse of the Naira.

According to reports, the anti-graft agency will arraign Cubana Chief Priest on a three-count charge of allegedly spraying and tampering with the Naira notes at a social event contrary to the provisions of the Central Bank Act of 2007.

In the charge filed on April 4 by the EFFC’s prosecutor, Rotimi Oyedepo (SAN), and seven other lawyers representing the executive chairman of the anti-graft Commission, it was alleged that Okechukwu Pasca on February 13, 2024, at Eko Hotel, within the jurisdiction of the court, while dancing during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) notes issued by the Central Bank of Nigeria by spraying same for two hours, and thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.

In count 2, it was alleged “that you, Okechukwu Pasca,l sometime in 2020, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.”

In count 3, it was alleged: “that you, Okechukwu Pasca,l sometime in January 2024, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.”

Recall that the EFCC on April 5 secured the conviction of a popular cross-dresser, Idris Okuneye, also known as Bobrisky, on similar charges for which he was sentenced to six months imprisonment.

However, upon news of his arrest, multiple videos of the socialite abusing the Naira have continued to make rounds on social media

See One of the Videos Below:

A fresh survey has revealed that some filling stations in Lagos State have implemented a downward review in the price of Premium Motor Spirit (PMS), popularly known as petrol.
It is understood that previously, fuel in the filling stations sold for between ₦640 and ₦660 per litre, but currently, the stations observed have reduced the price of petrol to ₦620.

The reduction in price is attributed to the strengthening of the Nigerian Naira against the US Dollar in recent weeks.

Also, a fuel station manager who spoke with Legit on the development said they are able to offer petrol at a cheaper price of ₦620 per litre because they got a new supply, which is cheaper than what they used to pay at the depot previously.

“For days, we have been closed and have just received our supply. Although other stations around us sell at N650, we are able to offer it at a cheaper rate because we just got a new supply which is less than what we paid previously,” the station manager, identified as Kunle Ademola, told the publication.

Although the Nigerian National Petroleum Company Limited (NNPCL) has not officially announced any reduction in the price of petrol, its stations sell the product at N580 per litre.

If sustained, the reduced price of petrol is expected to result in cheaper transport costs over time and a reduction in the price of commodities as marketers pay less to move their goods.

The Minister of Interior, Mr Olubunmi Tunji-Ojo, says corruption and corrupt practices fuel insecurity in the country, calling for all hands to be on deck to fight the menace.

The minister said this, when he paid a courtesy visit to Dr Musa Aliyu, SAN, the Chairman of Independent Corrupt Practices and Other Related Offences Commission (ICPC), on Tuesday in Abuja.

Tunji-Ojo said the purpose of his visit was to strike a synergy between his ministry and the ICPC.

He expressed the belief that collaborating with anti- corruption agencies could help to tighten the belt and block loopholes even within the administrative processes.

“We know the Ministry of Interior is responsible for the enhancement of internal security and, of course, corruption is one of the biggest threats to security in Nigeria.

“So, we don’t need to move too far before we get to the point of intersection, where our interests remain.

“We believe that in leveraging and collaborating with ICPC, we might just be saving our country from a lot of effort that is needed in righting the wrongs.

“We believe that all over the world the language is pro-activeness, the language is prevention, the language is no more detection or correction,” he said.

According to him, the world is moving and is moving so fast.

He noted that as product of the 20th and 21st century, there was the need to learn the language of the 22nd century.

“And, the language of the next generation, which we must learn as a country is to build strong institutions.

“One believes that the strategic relationship between these two agencies can of course block a lot of reports, can prevent and, of course, can deter even the imagination of ill doings.

“If we do not do that, we will continue to run after the criminals. And, once we are running after the criminals, it becomes a game of fun to the criminals,” he said.

He explained that all over the world the criminals would be running after the state to meet up with the state, not the state running after the criminal.

“It means we have to up our pace.

“And we believe that the management of ICPC is well poised towards ensuring that a new Nigeria, not just built on hope, but on renewed hope comes to life.

“I realise that a lot of errors that people or mistakes that people make in government are actually very avoidable. That’s the truth.

“And, I believe that the lack of knowledge transfer has created a lot of lacuna and has reduced the level of performance of government officials.

“So, we are looking at the area of capacity building, strongly collaborate with you in areas of capacity building.

“As the saying goes, you will always be a slave to what you don’t know. So, we need to collaborate, we need to build capacity or run capacity,” he said.

He stressed the need on collaboration with the agency to tighten the belt and block loopholes within the administrative processes.

“How do I mean by that? I’ll tell you, I sincerely believe that if we have a functional unit of ICPC officers saddled with certain responsibility of going through certain decisions before they are activated, we might save ourselves a lot of stress in detection.

“I sincerely believe, and I say this with all utter insincerity, that I think the Ministry of Interior will be where we can use to test this particular idea,” he said.

The ICPC chairman in his remarks said that the commission had been trying as much as possible to discharge its mandate within the confines of the law.

“This is to ensure that we have Nigeria, which is less corrupt and a country whereby people have confidence within and outside the country.

“This is because I keep on saying that we need investments.

“And two major key issues that you need to have on ground to have investment in the country, is one secure environment, which the Minister of Interior has responsibility in ensuring that Nigeria is secure.

“Also, there is less corruption because no investor will come to a country whereby you will feel insecure. And there is also challenge of bribery and corruption,” he said.

Musa said that he had always tried to see how ICPC could achieve its mandate of prevention, enforcement, education and enlightenment to combat the serious challenge facing the country.

“I have been in discussion with the minister; we have discussed a lot about how we can partner to ensure that ICPC, Ministry of Interior and its agencies work closely to ensure that we help this country in fighting this challenge of corruption.

“The only way we can do that is by coming together like the gathering we are having today and also to sit down and carefully look at how we can work closely,” he said.

The Naira experienced a significant rally against the US Dollar, breaking through critical resistance levels to trade below N1,000 in some segments of the black market as of late Sunday.

This performance aligns with earlier predictions by Goldman Sachs and comes amid heightened global geopolitical tensions.

“The Naira’s current bullish momentum is projected to persist, potentially pushing the exchange rate below N1000 per US dollar in the upcoming months,” economists from the American investment bank, Goldman Sachs, commented.

This upturn in the Naira’s value follows a period of volatility where it suffered considerable devaluations since last June. Efforts by Nigerian financial authorities, including successive interest rate hikes now pegged at 24.75%, and strategic foreign exchange interventions have notably contributed to this stabilization.

“The Central Bank of Nigeria’s (CBN) aggressive monetary policy adjustments and the implementation of new market strategies have been central to the recovery of the Naira from its prior losses,” a CBN spokesperson stated during the latest Monetary Policy Committee (MPC) meeting.

Additionally, the geopolitical landscape has influenced market movements. The recent Iranian strike on Israel spurred a flight to safety, which bolstered the US dollar against other currencies.

However, the dollar steadied after initial gains, with Israeli ministers indicating no immediate plans for retaliation, which somewhat eased market fears.

Goldman Sachs had earlier adjusted its forecast in March, predicting that the Naira would strengthen to N1200 per dollar by 2024. The firm cited increased capital inflows and a series of policy initiatives aimed at bringing stability to the foreign exchange market as key drivers behind this optimistic outlook.

Finance Minister Wale Edun also unveiled plans for higher inflows of US dollars, including the sale of foreign currency bonds in the second quarter. This move is part of broader efforts to attract overseas capital with high-yield short-term debt products.

Despite the rallying Naira and strategies to boost economic inflows, Nigeria’s gross foreign reserves have declined, even as global commodity prices, particularly crude oil, continue to rise. Nigeria’s oil grades are currently trading at a premium over the ICE Brent benchmark, which could potentially offset the negative fiscal impacts of reduced production volumes.

“The ongoing geopolitical unrest in the Middle East and the anticipation of further instability have had significant ripple effects on global markets, influencing commodity prices and currency valuations alike,” explained an industry analyst.