The Nigerian economy stands to gain immensely from the immediate implementation of the Cargo Tracking Note (CTN), a system that over 22 African nations, including Equatorial Guinea, Angola, Burkina Faso, the Democratic Republic of Congo, and Cote D’Ivoire, are already utilizing to streamline their trade processes.
The Cargo Tracking Note (CTN) is an advanced digital system used to monitor and regulate the movement of cargo in international trade. It provides real-time tracking of shipments, ensuring compliance with customs regulations, preventing smuggling, and improving revenue collection. By requiring shippers to submit detailed information about cargo before its arrival at ports, the CTN enhances transparency, reduces fraudulent trade practices, and strengthens national security.
The benefits of CTN adoption are tremendous, offering enhanced digital monitoring of imports and exports while curbing illicit activities that threaten national security and economic stability.
Benefits of Implementing the Cargo Tracking Note in Nigeria
1. Eliminating Substandard and Illegal Imports: One of the most significant advantages of CTN is its ability to prevent Nigeria from becoming a dumping ground for obsolete equipment, counterfeit drugs, arms and ammunition, and hazardous chemical weapons. This proactive digital monitoring system will ensure only quality imports and exports are processed, reducing risks associated with insecurity and terrorism.
2. Boosting Revenue Generation: Nigeria currently loses up to $700 million annually due to the absence of a functional CTN system for exports & imports. Implementing the CTN will plug revenue leakages, ensure accurate trade data collection, and enhance government earnings from import and export duties.
3. Enhancing Trade Transparency and Efficiency: A well-managed CTN system allows for real-time tracking of cargo, ensuring compliance with trade regulations, reducing bureaucratic bottlenecks, and preventing tax evasion. This fosters a transparent and efficient trade ecosystem, positioning Nigeria as a competitive player in global trade.
4. Encouraging Sustainable Economic Growth: By ensuring the proper regulation of Nigeria’s imports and exports, the CTN system will directly contribute to sustainable economic growth across all sectors, particularly in manufacturing, agriculture, and the extractive industries.
Global Success Stories of Cargo Tracking Note Implementation
Several countries across Africa and Asia have successfully adopted the Cargo Tracking Note, reaping immense benefits in trade security, revenue generation, and regulatory compliance.
Ghana: Ghana implemented the CTN system to combat under-invoicing and trade fraud. As a result, the country witnessed an increase in customs revenue and improved cargo transparency, ensuring compliance with trade regulations.
Ivory Coast: The CTN system helped the Ivorian government track cargo movement effectively, reducing instances of smuggling and tax evasion while optimizing the efficiency of its import/export operations.
Cameroon: The adoption of CTN improved customs enforcement, significantly reducing the entry of counterfeit goods and strengthening trade security.
India: India’s cargo tracking system has played a crucial role in reducing delays at ports, enhancing security, and preventing the illegal importation of restricted goods, leading to increased efficiency in international trade.
Turkey: The implementation of a cargo tracking system in Turkey facilitated better customs control, streamlined trade processes, and improved national revenue collection from imports and exports.
These examples highlight the critical role that an efficient CTN system plays in boosting trade security, increasing government revenues, and fostering sustainable economic development.
The Need for Expertise: Eden & Frabemar Global ICTN Services
To achieve the full benefits of the CTN system, Nigeria must engage a company with proven expertise and extensive experience in implementing Cargo Tracking Note solutions. Eden & Frabemar Global ICTN Services, in partnership with Frabemar Srl, is the ideal candidate for this crucial national project. Frabemar Srl boasts 30 years verifiable industry experience across Africa, with a track record of successfully managing CTN implementations tailored to the unique economic and regulatory environments of various African nations.
Why Eden & Frabemar Global ICTN Services?
Local and Global Expertise: As a Nigerian-registered partner of Frabemar Srl with international associates, Eden & Frabemar understands the intricacies of Nigeria’s trade landscape and has the capacity to navigate its complexities while Frabemar provides the vital state of the art real time platform and technical support for the ICTN project.
Proven Success in Africa: Frabemar Srl’s longstanding experience in multiple African countries guarantees a seamless adaptation of CTN processes to Nigeria’s economy.
Robust Digital Solutions: Frabemar Srl operates one of the most advanced state-of-the-art digital platforms for Cargo Tracking Note management. This cutting-edge technology ensures seamless cargo tracking, enhances regulatory compliance, and eliminates inefficiencies in trade operations.
Comprehensive Data Integration: The Frabemar digital platform offers real-time data analysis, allowing authorities to detect discrepancies in cargo declarations, prevent fraudulent trade practices, and improve overall trade security.
Scalability and Efficiency: Frabemar’s platform is designed to handle high volumes of cargo movements, ensuring smooth operations regardless of Nigeria’s trade complexities and growing import/export demands.
Tinubu Administration’s Opportunity for a Lasting Legacy
President Bola Ahmed Tinubu has demonstrated a strong commitment to Nigeria’s digital transformation, and the implementation of the CTN will further solidify his administration’s reputation for driving economic progress. Unlike previous administrations that attempted but failed to execute the CTN due to political and bureaucratic challenges, Tinubu’s government is uniquely positioned to succeed where others faltered.
By appointing a competent firm like Eden & Frabemar Global ICTN Services, the administration can avoid the pitfalls of inefficiency, mismanagement, and corruption, ensuring a professional and transparent execution of the CTN system. This decision will not only enhance trade security but also provide an economic boost that aligns with Nigeria’s broader agenda for sustainable development.
Conclusion
The immediate implementation of the Cargo Tracking Note in Nigeria is imperative for national economic growth, security, and international trade credibility. The selection of the right company to manage this project is equally crucial, as only a firm with the necessary expertise, like Eden & Frabemar Global ICTN Services, can guarantee the seamless and effective deployment of this system.
With Frabemar Srl’s state-of-the-art digital platform, Nigeria will benefit from superior cargo monitoring capabilities, enhanced revenue collection, and improved national security.
President Tinubu has a golden opportunity to make the CTN a landmark achievement of his administration, reinforcing Nigeria’s digital economy and ensuring long-term trade security and prosperity. It is time for Nigeria to take decisive action, join its African counterparts, and implement the CTN with professionalism and precision.
Princess Dr. G. Adebajo-Fraser MFR
Founder, The National Patriots.
