FG Launches NTH to Boost Foreign Trade

The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, yesterday formally launched the Nigeria Trade Hub (NTH), an innovative web-based solution of the Nigeria Customs Service for facilitating cross-border commerce.

The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said the NTH was a useful step towards improving trade facilitation in the economy as it would create an enabling environment to harmonise, simplify procedures for cross border transactions, improving the country's business environment remained key to President Goodluck Jonathan's Transformation Agenda, to address the regulatory bottlenecks which had often contributed to cost of doing business and the innovation would further reduce delays associated with cross border trade and enhance "our goal of 48-hour clearance at the ports”.

The innovation is expected to among other things, enhance the country's competitiveness, and pave way for Nigeria to join the Single Window Global Community, where trade information is provided at a one-stop-shop, also launched was the Nigeria's Import, Export and Transit Process Manual, which has the purpose  to make trading more predictable and sustainable through the single window approach.