Southland expects ~$6M quarterly interest expense as it targets preferred share issuance by December 18

The Federal Government of Nigeria has announced plans to launch the second phase of the National Single Window project on December 14, 2026, in a bid to curb revenue leakages, enhance regulatory compliance, and streamline bureaucratic hurdles in the country's export sector. The project's director, Tola Fakolade, addressed the sensitization program held in Port Harcourt, Rivers State, where he revealed that the platform would offer a unified digital portal for exporters to submit documents and secure approvals from relevant regulatory bodies.

Fakolade expressed confidence that the platform's first phase, which concentrated on license and permit processing, would serve as a strong foundation for the export component, which is expected to commence on December 14, 2026. The second phase is anticipated to roll out in two batches, with the first batch focusing on the issuance of export permits by relevant agencies responsible for product inspection and permit issuance, while the second batch would cover the Central Bank of Nigeria's processes and is slated for launch in the first quarter of 2027.

The Deputy Director of the Nigerian Export Promotion Council, Ndubueze Okeke, in his keynote address, urged the Federal Government to expedite economic diversification through the promotion of non-oil exports. Okeke emphasized that Nigeria could not achieve sustainable economic growth by relying excessively on crude oil revenue and urged stakeholders to consider the country's economic future beyond oil, highlighting the potential of sectors such as agriculture, manufacturing, tourism, education, healthcare, and financial services.