The President, Nigerian Association of Master Mariners, Capt. Tajudeen Alao, has disclosed that Federal Government’s Trade Modernisation Project (TMP) will stimulate quicker cargo clearance at the nation’s seaports.

Alao made the observation while assessing the project in a chart with the media in Lagos, noting that the establishment of the project would not only boost internally generated revenue, but also enhance the country’s global visibility.
 
He observed that the world had moved beyond conventional methods of doing business with the advancement of technology.
He said: “More than 30 years ago, when Singapore grew from a third-world country to a first-world country, the President, Mr. Lee Kuan Yew, led the drive for technology awareness, and now look at where Singapore is today in terms of technology.
 
“So, Nigeria must make more efforts to keep abreast with technological advancements worldwide. The establishment of the Trade Modernisation Project would add value in terms of Internally Generated Revenue through improved customs clearance procedures.

“Consider the time when we had to carry files around; now everything is done through ICT. Nigeria must modernise, and I am glad this initiative is underway”.
The master mariner emphasised that without trade, growth is impossible, reason creating an atmosphere conducive for trade is essential to reap its benefits.

Alao assured Nigerians of the tremendous benefits that would follow the establishment of the TMP, stating that the project would enable Nigeria to become a shipping hub for West and Central Africa.
 
Alao commended terminal operators for upgrading the access corridors at the port, urging them to enhance other facilities to reduce business-processing time.
 
The General Manager of the Trade Facilitation Project, Ahmed Ogunshola, had earlier explained the numerous benefits accrued to a nation when the project is fully automated.
 
The Federal Government and Trade Modernisation Project Ltd. signed a 20-year concession agreement on May 30, 2022, to provide best-in-class technology for the implementation of paperless customs at the Nigeria Customs operations.
 
He said that the project would simplify and enhance the experience of stakeholders in the trade value chain, making it easy to obtain import and export clearances, pay duties, and obtain the release of goods.