Recently I was browsing the internet for something related to importing goods and came across this thread on Nairaland: How Do I Import Goods Within The Comfort Of My Home?
This blog post should get you started on the right path.
How Do I Import Goods From Home In Nigeria? Ultimate Checklist
Research, Research, Research:
I assume by now that you have done extensive research on the type and quantity of goods or products to buy. The next thing to consider is this, are you legally able to import such goods in your country? See list of contraband goods in Nigeria. If you are an entrepreneur, the question you need to ask yourself right now is whether there is a local market for the goods you want to import? After answering these questions, you need to research the costs of importation.
Cost of Importing Goods:
Importation requires cash for two reasons:
- Given the high shipping or transport costs, it is more cost effective to place larger orders less often than smaller orders more often – so import orders are often large, and expensive.
- Importing ties up working capital. The person you’re buying from will either ask for payment upfront or ask for a letter of credit or some other payment guarantee from your bank. So if you don’t have extra cash that you can easily use to run your business while placing the order and waiting for it to arrive, you are stuck.
So the real question is can you can afford to finance the cost of importation while still managing to run your business effectively? By cost, I mean purchasing, freight charges, clearing and transportation plus warehousing. Before you have money tied up for import orders, try speaking to your accountant or bank manager and a trusted freight forwarding company to see you haven’t overlooked anything important.
What supplier to contact:
Normally, you had the option of travelling abroad on an import search mission, which is a delightful thing, but costs loads of money. Another option was to wait for manufacturers to contact you. Nowadays, depending on what you want to purchase, all you need to do is simply go online and log on to Alibaba, Aliexpress, Amazon, Walmart or MadeInChina to order your goods and have it shipped to a warehouse, then you get a freight company to book, clear and ship to your doorstep in Nigeria. See our previous post on how to shop online using Chibyke Global’s shipping address.
Important Shipping Documents Needed for importation:
For formal trade goods, you will need a proforma invoice and FORM M. These documents can be arranged in a single working day.
How long before your goods are shipped?
Shipping by sea freight can last for up to 3 months while air freight can reach you within 3 – 7 working days, except when there are alterations and cancellations.
Best Shipping Ports in the World?
The best shipping ports are determined by the international shipping organization with reference to ease of practice and safety. Hamburg and Guangzhou ports fall into this category. Here are the top 10 busiest shipping ports in the world.
Best Countries To Import Goods From?
It all depends on the quality of goods and cost and your preference.
- Paris is known for quality fashion.
- London is known for gadgets and luxury goods.
- Germany and USA for cars,
- China and Dubai for almost everything that can be manufactured.
- India for pharmaceuticals.
Country choice should be made with quality and cost in mind.
Best Freight Forwarding Company to Choose From
It is advised that you use a local freight forwarding company to ensure the safe delivery of your cargo. Chibyke Global has so many Nigerian importers handle the clearing and shipping of their goods. So research into foreign freight companies that have representatives in one’s country is imperative. You can hire Chibyke Global.
To round up my entire discussion, you need to take the following steps:
- Do your research,
- Seek advice from a trusted shipping agent and
- Consult your accountant or banker.
Got Questions about Importation? Leave a comment below and we will answer them.What do you want to import? Click let's discuss your importation goals.