By Adedapo Adesanya

The Director of the Nigeria National Single Window (NSW), Mr Tola Fakolade, has assured stakeholders that the platform would not encroach on the statutory revenue-collection functions of agencies operating in the nation’s maritime sector.

Mr Fakolade made the clarification during a sensitisation programme for officers of the Nigeria Customs Service in Lagos, held ahead of the Phase One launch of the platform scheduled for March 27, 2026, on Monday.

He explained that the National Single Window is designed strictly to facilitate trade and streamline processes among government agencies involved in import and export operations.

“The National Single Window is not taking over revenue collection from agencies. What it will do is facilitate ease of trade by integrating processes and improving transparency across all participating agencies,” Mr Fakolade said.

He further stressed that the initiative is not a tax collection mechanism for the Nigeria Revenue Service but a presidential project aimed at modernising Nigeria’s trade infrastructure.

“The National Single Window is a presidential initiative with a steering committee comprising all relevant government agencies, each duly represented and led by the Presidency.

“Although the project is funded by the Nigeria Revenue Service, its objective is not to compete with any agency but to strengthen collaboration and efficiency,” he added.

Also speaking at the event, the Deputy Comptroller-General of the Nigeria Customs Service, Mrs Oluyomi Adebakin, underscored the strategic importance of the platform to Nigeria’s global trade competitiveness.

Mrs Adebakin noted that the National Single Window would significantly enhance operational efficiency within Customs while boosting Nigeria’s reputation in international trade.

According to her, digitising and harmonising trade-related procedures will help position Nigeria more favourably in the global trading environment.

“The National Single Window will improve Nigeria’s image in the committee of nations as it relates to trade. It will simplify procedures, reduce delays, and strengthen transparency within the system,” she said.

The sensitisation exercise is part of ongoing efforts by the National Single Window Secretariat to ensure that all government agencies involved in trade operations are fully aligned with the project’s objectives ahead of its full implementation.

Once operational, the National Single Window is expected to integrate multiple government agencies onto a unified digital platform, allowing traders to submit documentation and complete regulatory procedures through a single interface.

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rallied by 1.48 per cent on Monday, March 9, spurred by six price gainers at the close of business.

The sextuplet was led by Nipco Plc, which added N28.00 to trade at N313.00 per unit versus the previous price of N285.00 per unit, FrieslandCampina Wamco Nigeria Plc appreciated by N8.65 to sell for N133.85 per share versus last Friday’s closing value of N125.20 per share, Central Securities Clearing System (CSCS) Plc increased by N2.43 to N83.78 per unit from N81.35 per unit, Afriland Properties Plc gained 75 Kobo to close at N19.50 per share compared with the previous N18.75 per share, UBN Property Plc jumped by 21 Kobo to close at N2.38 per unit compared with the preceding session’s N2.17 per unit, and Industrial and General Insurance (IGI) Plc rose 5 Kobo to sell at 52 Kobo per share versus 47 Kobo per share.

As a result, the market capitalisation added N37.22 billion to settle at N2.556 trillion versus the preceding session’s N2.519 trillion, and the NASD Unlisted Security Index (NSI) went up by 62.20 points to 4,273.12 points from 4,201.57 points.

Yesterday, the volume of securities decreased by 67.6 per cent to 1.1 million units from 3.4 million units, the value of securities depleted by 24.3 per cent to N47.3 million from N62.4 million, and the number of deals went down by 18.2 per cent to 36 deals from 44 deals.

The most traded stock by value on a year-to-date basis was CSCS Plc with 37.6 million units valued at N2.3 billion, trailed by Okitipupa Plc with 6.3 million units sold for N1.1 billion, and MRS Oil Plc with the sale of 3.4 million units for N506.8 million.

As for the most traded stock by volume on a year-to-date basis, it was Resourcery Plc with 1.05 billion units worth N408.7 million, followed by Geo-Fluids Plc with 123.1 million units traded for N481.6 million, and CSCS Plc with 37.6 million units transacted for N2.3 billion.

By Adedapo Adesanya

Oil prices fell in the later session of Monday after initially crossing the $100 per barrel mark as the escalating Iran war by the United States and Israel squeezed world energy supplies, boosted the Dollar, and dampened hopes of interest-rate cuts.

Earlier, Brent crude futures climbed to a high of $119.50 per barrel, ‌and the US ⁠West Texas Intermediate (WTI) to $117.48 a barrel. However, it dropped later after US President Donald Trump suggested that the US conflict with Iran could soon wind down.

Data gathered by Business Post showed that the price of the Brent crude grade dropped 5.4 per cent to $87.68 per barrel, and the US WTI lost 7.4 per cent to trade at $84.21 a barrel.

President Trump is expected to review a set ​of options to tame oil prices, reflecting White House worries that the surge in oil prices will hurt US businesses and consumers ahead of the November midterm elections, when the ruling Republicans are hoping to retain control of Congress.

Reuters reported that the US is discussing with counterparts from the Group of Seven major economies a possible joint release of crude oil ​from strategic reserves. It also reported they are weighing other options, including restricting US exports, intervening in oil futures markets, ​waiving some federal taxes and lifting requirements under a US law called the Jones Act that domestic fuel must move ⁠only on US-flagged ships.

The Trump administration officials are also exercising diplomatic pressure on Gulf allies to help restore ​production and shipping of oil.

Market analysts have warned that Gulf producers are only able to sustain normal production for roughly 25 days if the Strait is completely blocked.

The expanding US-Israeli war with Iran led some major Middle Eastern oil producers to cut supplies due to fears of prolonged disruption to shipping through the Strait of Hormuz chokepoint.

Oil-driven inflation fears and delayed rate-cut expectations likely strengthened US yields and the Dollar, outweighing safe-haven demand.

The recent 10-day conflict in Iran is beginning to ripple through the global aviation industry, threatening what had been a strong outlook for aircraft demand.

JP Morgan has warned that Iran’s oil production could be slashed in half and oil exports could virtually stall if the US-Israel seize Iran’s Kharg Island, worsening the ongoing global oil shock. The island is regarded as the backbone of Iran’s oil infrastructure, handling approximately 90 per cent of its crude exports.