APM Terminals Nigeria has expressed strong support for the Federal Government’s National Single Window initiative, calling it a vital measure to improve the efficiency and competitiveness of Nigerian ports. The terminal operator made this known during a panel session at the 30th Nigerian Economic Summit in Abuja, which focused on navigating business growth in times of volatility and uncertainty.
Courage Obadagbonyi, Chief Financial Officer of APM Terminals Nigeria, highlighted the need for better coordination among stakeholders in the trade ecosystem. He stressed that the current practice of multiple inspections by various government agencies contributes to delays and reduces the overall efficiency of port operations, which harms Nigeria’s ability to compete on a global scale.
“We must, therefore, expedite the implementation of the single window initiative,” Obadagbonyi said, emphasizing that streamlining the process would reduce bottlenecks and enhance the smooth flow of cargo through Nigerian ports.
Obadagbonyi also discussed the broader challenges of operating in a volatile global environment, citing fiscal policies, foreign exchange management, and price regulations as ongoing concerns. He noted the continuing effects of the Russia-Ukraine conflict, which has lasted over two years and disrupted global food supplies and inflation levels.
“Companies must develop robust risk management frameworks to better understand the interdependencies of local and international events and create effective business continuity plans,” he added, stressing the importance of adaptability in the face of global disruptions.
Furthermore, Obadagbonyi cautioned against over-regulation, arguing that excessive government controls hinder operators from pricing their services competitively and stifle reinvestment in Nigeria’s infrastructure. He pointed out that such regulatory barriers make it difficult for global investors to fully leverage opportunities in the Nigerian market.
APM Terminals Nigeria’s support for the National Single Window initiative aligns with efforts to make the country’s ports more efficient and attractive for international trade, ensuring that Nigeria remains a key player in the global supply chain.
