The Nigerian government has inaugurated the Nigerian Trade Hub (NTH) Portal and the Import, Export and Transit Process Manual as part of efforts to boost cross-border trade.
According to local media reports Tuesday, the NTH as an interactive portal will assist importers and exporters to get correct and timely information in order to make informed decisions about doing business in Nigeria.
“The Nigeria Trade Hub is similarly a useful step towards improving trade facilitation in our economy. This initiative will simplify, harmonise and standardise the procedures for cross-border transactions in Nigeria.
“As a result, it will further reduce delays associated with cross-border trade and enable us to attain our goal of 48-hour cargo clearance time at the ports,” Finance Minister Ngozi Okonjo-Iweala was quoted as saying at the inauguration of the trade portal.
For his part, Trade and Investment Minister Olusegun Aganga said the NTH was a veritable vehicle to drive the Nigerian trade cycle towards economic development.
“The inauguration of the information phase of the trade hub will facilitate the next phase, which allows for end-to-end transaction in a single window environment,” he said.
“An efficient application will help in creating a competitive and enabling environment for cross-border trade in terms of reducing processing time and cost, hence enhancing regional economic integration,” the minister added.