As the Nigerian Government aims to make the non-oil export a significant contributor to Nigeria’s GDP while also facilitating exports to promote sustainable economic development, the opportunity for exportation of local products to foreign countries continues to increase by the day.
To this effect, 13 export products were listed as replacements for crude oil.
These 13 products vary from Agro-industrial products to Mining Related- products. From Petroleum products to Auto parts/cars and oil and gas industrial products.
An export in international trade is a good or service produced in one country that is sold into another country. The seller of such goods and services is an exporter; the foreign buyer is an importer.
As far as exportation business in Nigeria is concerned, The Nigerian Export Promotion Council (NEPC) is the Federal Government of Nigeria’s apex institution for the promotion, development and diversification of exports.
Nigerian Export Promotion Council Amendment Decree No.64 of 1992 was promulgated to enhance the performance of the Council by minimizing bureaucratic bottlenecks and increasing autonomy in dealing with members of the Organised private sector. The Council has a governing Board drawn from both the Public and the Private sectors.
In order to adequately prepare yourself for exportation business in Nigeria, there are certain things you need to be aware of. We will try to explain some and also point you to the appropriate links where required.
The first thing you need to do is to undergo an Export Readiness Check with the NEPC. The Nigerian Export Promotion Council has made it possible to do a quick check on their portal with simple 8 steps.
This will enable you to know how prepared you are and what steps to take next, in order to achieve your exportation business goal.
To start your export readiness check, please click the below button.
Important For Prospective Exporters
To achieve a successful exportation business in Nigeria, one needs a proper understanding of the target market(s) at the eventual export destination(s).
The Nigerian Export Promotion Council (NEPC) has put together a list of the necessary information about understanding the export market, research areas, market analysis tool, international buyers directory and so much more.
You can access all this exportation information by clicking the below button.
Having an export plan will be beneficial as you continue to prepare for your exportation business in Nigeria. This is because an export plan gives you proper insight and guidance about every aspect of your business activities.
Just like every other business venture, a registration process is essential in order for you to start exportation business in Nigeria. To export anything from Nigeria, it is required that you register with NEPC.
In addition to obtaining an exporters certificate from The NEPC, you can also access some trade support services from the council:
To understand more about the certification process, fees, payment method and all required documentation, we have provided some information for you here. Please click the below button:
If you are interested in Exportation Business In Nigeria, there are laid down procedures and necessary documents that will help you minimize your export risks, ensure that exported goods conform to importing country specifications, assist you in qualifying for export incentives and also ensure you meet buyers requirements by providing evidence of origin and delivery.
As an exporter, you need to have a sustainable structured export financing plan that will protect you throughout your export business transaction duration. In most cases, you might not be able to afford waiting until your buying partner receives the goods you’ve shipped before you receive payment. Hence, it is essential to utilize all appropriate finance options and the amount of funding required for exportation of commodities is largely dependent on your product and export destination(s).
You can find solutions to export financing in Nigeria by exploring the available government grants and loans, attempt accessing grants and from private partnerships and multilateral organizations, approach Nigerian financial Institutions NEXIM for their available financing packages or seek advice from already established exporter and seasoned bankers.
Click the below button for more on Export Financing.
If you are interested in Exportation Business In Nigeria, possessing the necessary documents for Nigeria exporters will help you minimize your export risks, ensure that