The Nigerian Association of Master Mariners (NAMM) has endorsed the Federal Government’s Trade Modernisation Project, citing its potential to expedite cargo clearance at Nigerian ports and enhance revenue generation.
Speaking to journalists on Thursday, NAMM President Captain Tajudeen Alao stated the project’s usefulness in advancing Nigeria’s technological capabilities and global trade visibility. Alao noted that the shift from traditional customs methods to a fully automated system would streamline operations and align Nigeria with global best practices.
“The world has moved beyond conventional methods of doing business,” Alao stated. “More than 30 years ago, Singapore transitioned from a third-world to a first-world country under the leadership of President Lee Kuan Yew, driven by technology awareness. Nigeria must follow suit.”
The Trade Modernisation Project, a 20-year concession agreement signed on May 30, 2022, between the Federal Government and Trade Modernisation Project Ltd, aims to implement a paperless customs system for the Nigeria Customs Service.
Ahmed Ogunshola, General Manager of the Trade Facilitation Project, elaborated on the benefits of the Customs Modernisation Project, emphasizing the simplification of import and export processes, improved duty payments, and expedited goods release.
“The project will generate more than $250 billion for the Federal Government over the concession period,” Ogunshola stated. “This initiative will position Nigeria on par with global standards in international trade facilitation.”
Alao assured that the project would enhance internally generated revenue and promote technological advancements in the nation’s customs operations.
