Post by Trade facilitator on Apr 28, 2013 5:26:51 GMT 1
The federal government’s position today is one that encourages export of products from the country. As an income generating business, an individual as well as corporate entity has abundant opportunity to participate, sanitize and ensure that the country’s image is not compromised through shady deals in export, the government issued export guidelines in 1996 specifying strict adherence to accountability and transparency in the conduct of international business.
You will be helping the government achieve that aim by ensuring that the quality and quantity of your exports represent the true value of what you declared to the consignee (possibly the person buying from you) in documentation.
Exporting products from Nigeria to other nations require thorough preparation, hardwork and determination. The federal government of Nigeria has charged the Nigeria export-import (NEXIM) Bank to assist the country boot its non-oil earnings from the current three percent to about twenty percent. This alone buttresses the fact that government is in support of genuine exporters.
Your role
Prospective buyers would be interested in your product if they are convinced that your quoted price is favourable to them. Adequate documentation is necessary to avoid conflicting details. In some cases, variation from the physical goods and what the documents show could lead to failure to meet delivery date and sometimes the goods confiscated.
Be sure that the product you intend to export is available in large quantity. Where you don’t have enough in one location, it then means going extra length to source for more of the product. You may go into direct production to meet demand. As a potential exporter, individual or corporate organization, you require sufficient technical knowledge on the product/service you intend to export.
You have several places where you could go to source for products or you could even buy products from other agents. You can get products to buy without stress because of your knowledge of the market. As an individual exporter, you alone have to act in several capacities. You would function as a clerk for documentation, manager to supervise processing and ensuring proper documentation, or marketer to sell products beyond our shores.
At every stage of exportation process, an organization is in place, privately or publicly owned to encourage and make the processes hassles free. Taking the stress off you is not free of charge (FOC) , you need to pay to get their services. Sourcing for the products for export is your responsibility. Also, it is in your interest to ensure that the intended export product meets international standard. Before embarking on further process towards exporting, you need to have a ready buyer. You should have a ready market, it does not matter what your financial capacity or what your bank statement is telling you. Monetarily, you only need enough fund to process registration and incorporate a business and enough to enable you register with Nigerian Export Promotion Council (NEPC) as an exporter. The stress of sourcing for fund to finance your export would be taken care of by NEXIM Bank. Isn’t it easy?
Registration with CAC
In fact, the first step to take is to have a registered company, certified by the Corporate Affairs Commission (CAC) as a limited liability company. Some of the agencies you will be dealing with in the course of export processing will demand:
(a) Certificate of incorporation
(b) Articles and memorandum of association
(c) Form CO7
Nigerian Export Promotion Council
This body has the responsibility of certifying companies as qualified to embark on exportation. They also play roles in supervising and ensuring that products for export are international standard-compliant and that products are not on the prohibited list. At NEPC, there is a list showing products that companies are not permitted to export. These include: maize, limber-whether rough or sawn, raw hide and skins and all unfinished leather, scrap metals, unprocessed rubber latex and rubber lumps, artifacts and antiquities. Also in the list are wild life animals classified as endangered species and their products eg. crocodile, elephant, lizard, eagle, monkey, zebra, lion etc.
When you are satisfied, your exportable commodity does not fall among these groups, you should proceed to the Nigerian export promotion council for registration forms after paying a fee of N1,000 (at the moment). You are to submit the form with further N10,000 for certification, accompanied with other relevant documents eg. certificate of incorporation and others from the Corporate Affairs Commission (CAC).
At the moment, annual renewal of registration with NEPC is N5,000, and evidence of export performance in the year preceding should be accompanied with the renewal application.
Now that you have the product, or its source infact, including a waiting buyer, what comes in next is contacting an export clearing agent. It is the duty of the agents to carry out packaging or pelletizing, including other logistics. They will brief you of further requirements such as duties payable and where to pay, the cost of shipping, including custom processes and ensuring that pre-shipment inspection is carried out on your products and that all valid documents are available to cover you product.
Financing should be your next action, after getting all the necessary cost of goods, shipping, agents fees, then proceed to NEXIM Bank through your bank for funding if the financial involvements is above what you can foot from your purse.
The addresses of organizations mentioned here are: Nigeria Export Promotion Council, 13/15, Ladipo Oluwole Street, Apapa GRA, Lagos, Nigerian Export-Import (NEXIM) Bank. Former Allied Bank building, Broad Street, Lagos. For the clearing agents, you need to get one of your choice, you will find one around Apapa Wharf, TinCan port and any other port within the country.
For more information on Exporting from Nigeria,contact:
Ismail AbdulAzeez,
C.E.O,
THE THY GLOBAL INVESTMENT LTD,
www.thethyglobalexport.com.ng
Tel +2348023050835 , +2347033632285.
You will be helping the government achieve that aim by ensuring that the quality and quantity of your exports represent the true value of what you declared to the consignee (possibly the person buying from you) in documentation.
Exporting products from Nigeria to other nations require thorough preparation, hardwork and determination. The federal government of Nigeria has charged the Nigeria export-import (NEXIM) Bank to assist the country boot its non-oil earnings from the current three percent to about twenty percent. This alone buttresses the fact that government is in support of genuine exporters.
Your role
Prospective buyers would be interested in your product if they are convinced that your quoted price is favourable to them. Adequate documentation is necessary to avoid conflicting details. In some cases, variation from the physical goods and what the documents show could lead to failure to meet delivery date and sometimes the goods confiscated.
Be sure that the product you intend to export is available in large quantity. Where you don’t have enough in one location, it then means going extra length to source for more of the product. You may go into direct production to meet demand. As a potential exporter, individual or corporate organization, you require sufficient technical knowledge on the product/service you intend to export.
You have several places where you could go to source for products or you could even buy products from other agents. You can get products to buy without stress because of your knowledge of the market. As an individual exporter, you alone have to act in several capacities. You would function as a clerk for documentation, manager to supervise processing and ensuring proper documentation, or marketer to sell products beyond our shores.
At every stage of exportation process, an organization is in place, privately or publicly owned to encourage and make the processes hassles free. Taking the stress off you is not free of charge (FOC) , you need to pay to get their services. Sourcing for the products for export is your responsibility. Also, it is in your interest to ensure that the intended export product meets international standard. Before embarking on further process towards exporting, you need to have a ready buyer. You should have a ready market, it does not matter what your financial capacity or what your bank statement is telling you. Monetarily, you only need enough fund to process registration and incorporate a business and enough to enable you register with Nigerian Export Promotion Council (NEPC) as an exporter. The stress of sourcing for fund to finance your export would be taken care of by NEXIM Bank. Isn’t it easy?
Registration with CAC
In fact, the first step to take is to have a registered company, certified by the Corporate Affairs Commission (CAC) as a limited liability company. Some of the agencies you will be dealing with in the course of export processing will demand:
(a) Certificate of incorporation
(b) Articles and memorandum of association
(c) Form CO7
Nigerian Export Promotion Council
This body has the responsibility of certifying companies as qualified to embark on exportation. They also play roles in supervising and ensuring that products for export are international standard-compliant and that products are not on the prohibited list. At NEPC, there is a list showing products that companies are not permitted to export. These include: maize, limber-whether rough or sawn, raw hide and skins and all unfinished leather, scrap metals, unprocessed rubber latex and rubber lumps, artifacts and antiquities. Also in the list are wild life animals classified as endangered species and their products eg. crocodile, elephant, lizard, eagle, monkey, zebra, lion etc.
When you are satisfied, your exportable commodity does not fall among these groups, you should proceed to the Nigerian export promotion council for registration forms after paying a fee of N1,000 (at the moment). You are to submit the form with further N10,000 for certification, accompanied with other relevant documents eg. certificate of incorporation and others from the Corporate Affairs Commission (CAC).
At the moment, annual renewal of registration with NEPC is N5,000, and evidence of export performance in the year preceding should be accompanied with the renewal application.
Now that you have the product, or its source infact, including a waiting buyer, what comes in next is contacting an export clearing agent. It is the duty of the agents to carry out packaging or pelletizing, including other logistics. They will brief you of further requirements such as duties payable and where to pay, the cost of shipping, including custom processes and ensuring that pre-shipment inspection is carried out on your products and that all valid documents are available to cover you product.
Financing should be your next action, after getting all the necessary cost of goods, shipping, agents fees, then proceed to NEXIM Bank through your bank for funding if the financial involvements is above what you can foot from your purse.
The addresses of organizations mentioned here are: Nigeria Export Promotion Council, 13/15, Ladipo Oluwole Street, Apapa GRA, Lagos, Nigerian Export-Import (NEXIM) Bank. Former Allied Bank building, Broad Street, Lagos. For the clearing agents, you need to get one of your choice, you will find one around Apapa Wharf, TinCan port and any other port within the country.
For more information on Exporting from Nigeria,contact:
Ismail AbdulAzeez,
C.E.O,
THE THY GLOBAL INVESTMENT LTD,
www.thethyglobalexport.com.ng
Tel +2348023050835 , +2347033632285.
