Export 101: How To Start Export Business In Nigeria ▷
Export business is very lucrative as long as you know the ropes and the basics.
You can export literally everything from Nigeria even charcoal.
This article contains the quick ways to start your own small scale or large scale export business in Nigeria,all you need to do is to follow these steps below.
Steps On How To Start Your Export Business In Nigeria
Before you venture into export business in Nigeria,you should signing up for some export training courses.
After you are done with the courses you should observe and take your time to learn how export business in Nigeria works because it is actually vast and complicated and you should not venture unprepared else you will end up losing your capital.
Check out the quick steps you need to consider seriously before starting exporting business in Nigeria.
1. Export Commodities
Before you venture into the export business,decide on what you are going to export and how you are going to get it.
Nigeria is a country blessed with so many products that are needed in other countries in the world.
Consider exporting products like:
A. Palm oil
palm kernel oil, coconut oil,sesame seed oil, these products are not available in most countries due to their climate.
One of the hottest export commodity now in Nigeria,there is high demand for these product in Asia, Europe and Americas,they also have a large market for this product.
C. Fruits and juices
Nigeria is filled with juicy fruits that can be exported to foreign countries.
Nigerian fashion is now in hot demand,people around the world are rocking African attires.
Nigerian cotton is also in high demand and can be exported.
Ginger is one of the most popular and most traded spice in the world and Nigeria is among the largest producers.
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G. Cocoa Butter
This is among the hottest products to export from Nigeria because Cocoa is used for the production of various skin care products, health products, and pharmaceutical products and also chocolates.
Gallstone is needed by foreign pharmaceuticals because they use it for medical purposes in foreign countries.
Nigeria Is one of the top producers of Rubber in Africa,and it's one of the most sought after product from Nigeria.
J. Sesame Seed
Nigeria is the 5th largest producer of this product and exporting it into foreign countries brings dollars exchange.
Honey is consumed in almost all parts of the world.This hot export commodity is also among the products exported from Nigeria to other countries. Pure natural honey contains trace enzymes which are medicinal.
Nigeria has a substantial amount of shrimps in the Niger Delta Region. Shrimps are in high demand from foreign countries.
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Garlic is a one of the cash crops which will earn you some amount of cash. Garlic is in high demand because of its medical and antibiotic qualities.
Nigerian yam is also in high demand from Nigerians in diaspora.
Exporters of Yam in Nigeria smile to the bank on a regular basis.
O. Cassava Flour
Cassava is used to prepare most of Nigerian foods and it is in high demand in foreign countries.
P. Cashew Nuts
A hugh amount of unprocessed raw cashew nuts are exported to foreign countries.
Snails are hotcake in European and American countries and are readily exported.
R. Chili Pepper
Nigerian hot chilli pepper is also one of the exported products that are in great demand in foreign countries.
Nigerian poultry is still exported to some nearby African countries.
U. Cosmetics and Soap
Some of Nigerian soaps and commodities are still exported into some African countries.
2. Export Source
After picking and selecting the item you want to be dealing in,the next step is to find out where and how you can get your export product.
You can either grow or make it yourself or purchase it from someone else.
Also endeavor to have backup or supplies of your export.
It is also advisable that you choose the products that your genuinely Interested in,that way you wont lose interest easily.
Also consider regular export products like cocoa, cashew nuts, cassava, bitter kola, etc.
3. Export Finance
Money is needed if you would want to venture into export business in Nigeria.
Export business is not all that capital intensive but it actually depends on the scale you want to start with. If you are planning to start off big then you should have a lot of money but if your planning to start off small then you should have a decent capital to start up your business.
If the capital is not readily available then you can consider taking a loan from the bank.
4. Business Registration
You should register your company and your business address,it is very essential in other for people to take you seriously.
A.Create a name for your export business and register it with the Corporate Affairs Commissions.You can start off by using your own home address.
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B. Register with different export organizations like the Nigerian Export Promotion Council (NEXP).
5. Local And International Documentations
You should ensure that all your paper works are up to date in order to avoid unnecessary embarrassment in Nigeria.
You should also try to procure the necessary licenses and permits of the government of the foreign country you want to be exporting your products to.
Learn what documents your target country wants and obtain them legally in other to be seen as a credible business fellow.
6. Client Or Buyers
After registering your company and getting your proper documentations its now time to source for clients and business partners.
Learn how to advertise your products to attract more customers and clients.
There are a lot of products you can export from Nigeria and make money from,all you need is to research,tread carefully and look for the product that you will invest in.