10 Steps for Successful Exporting In Nigeria

With Nigeria’s exports projected to hit $127 billion by 2030, growing at an annual rate of 9.5%, there’s an opportunity for businesses looking to enter the international trade arena. 

Here’s a guide to navigating the export process effectively:

Establish a Limited Liability Company (LLC) Begin by setting up an LLC with exporting as one of its business objectives. This is crucial for obtaining the necessary certifications and licenses.

Obtain an Export License Apply for your export license through the Nigerian Export Promotion Council (NEPC) website. The initial license lasts for two years, with yearly renewals thereafter.

Determine Your Export Product Choose a product to export based on thorough market research, demand potential, and considerations like quality and pricing.

Promote Your Products Online Utilize online platforms, social media, B2B platforms, and international trade fairs to market your products. An online presence helps attract potential buyers globally.

Understand Costing Get a clear understanding of Free Board (FOB) pricing, which covers costs and risks until the goods are loaded onto a shipping vessel. This knowledge is essential for accurate pricing during negotiations.

Secure Purchase Orders Following effective promotion, you should begin receiving purchase orders. Ensure these orders reflect the terms you have set.

Sign an Export Agreement Solidify your transactions by signing an export agreement with buyers. This document should detail product specs, pricing, payment terms, and delivery conditions.

Procure or Produce Goods Based on your business model, either procure or produce the goods as per the specifications agreed upon. Ensure the products meet quality and quantity standards.

Pre-Shipment Documentation Complete necessary pre-shipment documentation like the Nigeria Export Proceed Form (NXP) and a proforma invoice. Submit these to your bank for review and approval to ensure a seamless export process.

Post-Export Documentation After shipping, manage post-export documentation, including the bill for Nigerian Export Supervision Scheme Fees (NESS), bill of lading or airway bill, invoice, packing list, certificate of origin, inspection reports, and any other required documents.