6 major requirements before starting an export business in Nigeria



Venturing into export business in Nigeria is a very profitable business. There are a lot of cheap agricultural local products you can export to the international market. Some of these agricultural local products are very cheap here in Nigeria, which means you can make a lot of profits exporting it to the international market. An example of some local products you can export from Nigeria are; Sesame seeds, cocoa, charcoal, coffee, kola nuts, palm kernel, coconuts, cashew nuts, cotton, ginger, cow horns and hooves, timber cimelina, shrimps and prawns, shea nut, rubber, etc. There are a lot of agricultural local products you can export from Nigeria to other countries. Despite the facts that export business in Nigeria is very lucrative it also have some challenges. A lot of exporters in Nigeria do not actually know the rules and regulations binding the export business in Nigeria and also the legal requirements for starting and running the export business. On this article we are going to look at the major requirements before starting an export business in Nigeria. The following are the 6 major requirements before starting an export business in Nigeria:

     1. Securing a unique business name for the export business: You need to get a unique business name and register it with Corporate Affairs Commissions (CAC). When you register your business name with CAC your business will be added to the list of businesses officially recognized by the Nigerian government.

      2. Getting a secure and registered office: In Nigeria today every export business must have a registered office or at least an office address. The Nigerian government is really interested more in you having an address for your business than even having an office structure.

     3. You need to register with Nigerian Export Promotion Council (NEPC):  One of the rules of the Nigerian Customs Service is that anyone who is willing to engage in export business in Nigeria must register with the Nigerian Export Promotion Council (NEPC). The aim and objectives of this council is to enhance and encourage exportation of commodities in Nigeria other than oil with the major aim of generating national revenue through alternative means. You can visit the council official website to register.

     4. Opening of domiciliary account: To venture into export business in Nigeria you need a domiciliary account which is also known as a dollar account. Just work into any of the commercial banks and make an enquiry about the procedures of opening a domiciliary account. This account is what you will be using to receive payments.

    5. Getting the special licenses and permits: In Nigeria every business has its own licenses and permits. Venturing into an export business in Nigeria has its own licenses and permits that actually indicate the government’s approval of the business. If you want to actually know the kind of licenses and permits you need to obtain just try and conduct an extensive research or you can contact a seasoned business lawyer who really has deep knowledge about export business in Nigeria.

    6. Obtaining the right licenses from the targeted foreign country: Almost all the countries in the world today require that any individual or companies who is planning to sell their product or commodities to their citizens must obtain certain licenses and certifications. As an exporter what you really need to do is to find out more about the country requirements you want to export your products.

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