Nigeria is unarguably a richly endowed country, boasting of mineral and agricultural resources which have not been fully utilized to the benefit of the country and her citizens. These products are spread across every state in the federation and present a lucrative opportunity for any adventurous investor who intends to process them into raw materials or semi-finished goods for exports or local consumption. This post is meant for those nursing the ambition of selling these products in the export market. It provides you with information on how to start the business and be successful in it.
First things first, you must acquire training. The export business is a complex one and not something you just jump into. As a newbie, you need some basic knowledge as to how the export market works, documentation, licensing, port procedures, guidelines, product sourcing etc. Recently, there have been various companies, organizations and agencies organizing seminars and workshops on export business, especially in Lagos state.
Define Your products of interest. You need to specify what products you can easily export. Focus on products that you can easily make available in required quantity whenever there is demand for it; cassava, bitter kola, cashew nuts, cocoa etc. There are basically two ways to source a product; either you are buying from someone else to export or you are producing it yourself.
Define Your products of interest. You need to specify what products you can easily export. Focus on products that you can easily make available in required quantity whenever there is demand for it; cassava, bitter kola, cashew nuts, cocoa etc. There are basically two ways to source a product; either you are buying from someone else to export or you are producing it yourself.
Register Your Business: It is necessary that you legalize your business by incorporating it with the Corporate Affairs Commission. Foreign importers are very careful in dealing with Nigerians to avoid being defrauded so registering your business will help paint a good image of yourself. Provide your clients with your certificate of incorporation and any other information that proves your company to be trustworthy and capable.
Locate Your Buyers (Importers): The Internet has made international trade very easy through B2B/ trade websites. You can seal trade deals from the comfort of your room without necessarily meeting with your client face to face. You can find buyers for your products by joining trade websites and being an active member.
Showcase your products: You key consideration as a prospective exporter should be trade fairs/missions. As you progress in export business, you’ll need to attend a lot of them and take your products & services with you for promotion.
First things first, you must acquire training. The export business is a complex one and not something you just jump into. As a newbie, you need some basic knowledge as to how the export market works, documentation, licensing, port procedures, guidelines, product sourcing etc. Recently, there have been various companies, organizations and agencies organizing seminars and workshops on export business, especially in Lagos state.
Define Your products of interest. You need to specify what products you can easily export. Focus on products that you can easily make available in required quantity whenever there is demand for it; cassava, bitter kola, cashew nuts, cocoa etc. There are basically two ways to source a product; either you are buying from someone else to export or you are producing it yourself.
Define Your products of interest. You need to specify what products you can easily export. Focus on products that you can easily make available in required quantity whenever there is demand for it; cassava, bitter kola, cashew nuts, cocoa etc. There are basically two ways to source a product; either you are buying from someone else to export or you are producing it yourself.
Register Your Business: It is necessary that you legalize your business by incorporating it with the Corporate Affairs Commission. Foreign importers are very careful in dealing with Nigerians to avoid being defrauded so registering your business will help paint a good image of yourself. Provide your clients with your certificate of incorporation and any other information that proves your company to be trustworthy and capable.
Locate Your Buyers (Importers): The Internet has made international trade very easy through B2B/ trade websites. You can seal trade deals from the comfort of your room without necessarily meeting with your client face to face. You can find buyers for your products by joining trade websites and being an active member.
Showcase your products: You key consideration as a prospective exporter should be trade fairs/missions. As you progress in export business, you’ll need to attend a lot of them and take your products & services with you for promotion.
- Contact organizations such as the Bank of Industry (BoI) or Nigerian Export Import bank (NEXIM) for advice on the connection between country risks and the possibility of accessing credit facilities.
