The Definitive Guide To Exportation Business in Nigeria

The Definitive Guide To Exportation Business in Nigeria

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Exportation business in Nigeria has a high potential for growth. A nation cannot grow without export. Therefore, the Nigerian government have over the years been sprinkling manure on the exportation field to grow it further especially the agribusiness. This reason why we have governing bodies like the Export Promotion Council of Nigeria and NEXIM bank is to paint exportation in a good light so as to make it more attractive to corporate bodies and individuals as well.

How To Get Started With Exportation:

Jumping into the export business is not really a leap of faith, but more of a leap of conviction; you have to first jump across the hurdle of ignorance in this field and know what you are doing here. To get started, you need to

  • Know how the market works,
  • Documentation,
  • Licensing,
  • Port procedures,
  • Legal international protocols,
  • Product sourcing

But then one perfect route to starting is to pick out the prospective users of goods available at his disposal; this involves defining your area of interest. By this, you find foreign partners who will be in need of the services that you have to dish on their table.

Laws Governing Exportation and How To Get Export License In Nigeria:

When you come to the laws and norms of the export business, there are some fundamental features an exporter should have. Such features form the clay with which their reputation is moulded. They include:

  • A business name with the Corporate Affairs Commission (CAC).
  • A registered office as well as a minimum of two shareholders and two directors as well.
  • Registered with NEXP (Nigerian Export Promotion council).

The next step is to proceed with your NEXP registration when you are through with your CAC. The NEXP shouldn’t cost you more than N11, 000.00. It is also required to have special licenses and permits. From time to time, the NEXP will try to validate the viability of your exports as to if they regularly meet with the set standards. A well-seasoned lawyer who might know the back of his palm less than he knows the Nigerian exportation business setting will surely do well. The reality however is aiming at stability without your complete license is as wasteful as the Pope learning birth control.

List Of Exportable Items From Nigeria To Other Countries:

Nigeria is an aggro based export nation. Therefore most of our exports are natural resources and agricultural produce. Thus you have the likes of cocoa, rubber, cassava, cotton etc.  See list of exportable food items to other countries. For these, a QUARANTINE and HEALTH certificate is what is basically asked for at every port around the country. This you could get at every port health facility. The customs papers are also obtained at all the ports. The cost for all export materials are fixed by the issuing agencies on the grounds of what you have ready for export. This is an open party with no bouncers to both individuals and corporate firms depending on their volume of trade.

Other exportable items include but not limited to raw materials such as;

  • Lead,
  • Tin ore,
  • Charcoal,
  • Crude oil, etc.

How Much Does It Cost To Export Goods + Do We Need The Services Of Nigerian Freight Forwarders?

The next big pain for exporters here is the cost of exporting in Nigeria. Most courier services have sunk their sharp mandibles in the purses of exporters, sucking out an inconvenient amount of fortune without even returning value for money. This is why freight forwarding companies fill in such a vital vacuum in the exporting ecosystem. Freight forwarders basically connect clients to various reliable transportation serving adequately as that bonafide middleman. Freight forwarding companies could even handle very impressively multiple responsibility cutting across logistics, ancillary services like customs documentation (even Non-Vessel Operating Common Carrier NVOCC), bills of lading and insurance. The role of a consolidator as to exportation interests is round enough for the round bottom Freight forwarding companies, thus fitting. For the air freight business, the export of goods is done firstly by getting the airline’s freight charges which are calculated solely by the airliners with regards to flight route. Customs duty charge based on the kilograms and running/handling cost.

In all, transportation forms a crucial spine of exporting; and this is the domain of freight forwarding companies. You no longer need to lose weight over the heavy cost of logistics of paperwork, regulation and all other; simply allow a freight forwarding company to give you peace of wallet as well as of mind in your export business. As of course an excellent freight forwarding company like ours imports joy to you as you export your products wonderfully well!

How To Source For Buyers:

A reliable and readily available source and destination of export materials must be well mapped out. With the help of the internet and globalization, one can search out these companies with the help of sites like Alibaba.com as well as other B2B trade websites . In all, getting started requires a foreign contact or agent who requires whatever export goods, a steady source of export supply, a licensed handling/custom agent, transportation and warehousing in addition to basic capital.

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