Exporting is a very lucrative business in Nigeria. There are a lot of products that one can export in Nigeria. This is more so, given the fact that the Federal Government of Nigeria is focusing on diversification of the economy of the country.
Exportation is also part of the measures to improve the economy of the country. So, becoming an export merchant in Nigeria is a wise business decision to make.
Questions A Prospective Export Merchant in Nigeria May Ask
Perhaps you have been asking yourself these question:
- How can I start exportation business in Nigeria?
- What are the items I can export?
- How can I package the product?
- Who can help me?
- What is the government policy on exportation business?
Of course, the questions you ask are necessary. However, you do not need to doubt your success. That is, your success in this business is nearer than you might imagine if you take a bold step today. So, get up and venture into exportation business. The following sections will help you achieve success in this business.
Export Routes in Nigeria For Goods Delivery
There are different export routes that goods can take to reach its destination from Nigeria. You can take your goods by sea or air. The sea will take a few months before it reaches the destination depending on the distance.
The air, on the other hand, is very fast in reaching the country where you are sending your goods. You will need the assistant of forwarding agents to help you with the shipping of your goods. The forwarding agents will assist you in doing some necessary registrations with the right authorities before your goods are forwarded to its destination.
Seaport or Airport In Export Business
The seaport is a regular exporting route that people are aware of. You can also take your goods to other countries through the air. Some airports that are good for this business are available in Nigeria. Ensure that you know the difference between Federal Airport and State. For Federal, most of them are international airports and these are the ones you must know.
Since your focus is to take air freights from Nigeria to other countries in the world, there are some international airports that you must know. Some of them are:
- Murtala Muhammed International Airport, Ikeja, Lagos;
- Mallam Aminu Kano International Airport, Kano;
- Nnamdi Azikiwe International Airport, Abuja;
- Akanu Ibiam International Airport, Enugu;
- Port Harcourt International Airport, Port Harcourt.
You can decide to export your goods through the traditional route which is the seaport. You can export through the seaport in Apapa, Lagos State.
Profitability Exportation Business in Nigeria
The business is so profitable because you only send your goods to the country where it is needed based on the agreed price. Besides, the amount you sell those products will be more expensive than the local price. This is a double reward offer.
Items You Can Export in Nigeria
It is necessary for you to know that Federal Government of Nigeria has policies regulating the exportation in the country. You must know the product that the government approves of. Most of the things that can be exported in the country are agricultural products.
If you are looking forward to exporting agricultural products out of the country, there are chances of success for you.
However, you can also export non-agricultural products from the country. The following are the list items that you can export from Nigeria:
- Palm kernel
- Textile and garment
- Cocoa Butter
- Sesame Seed
- Yam Tuber
- Cassava flour
- Cashew Nut
- Chili pepper
- Fruit juice
Those are the list of some items that you can export from Nigeria. The demand for these items differs depending on the destination country. Some demand for these items is just for consumption while some demand for it for any special purpose.
For instance, Charcoal is an item that is most demanded by African countries. So, if you want to export charcoal, your destination country should be limited to those African countries that are in need of the item.
Then some items are needed outside Africa. These are needed either for food or for medicinal purposes. Ginger, for instance, can be used as a recipe for soup and it can also be used for medicinal purposes. You need to know the country that needs such item more than others.
What you Need to Know Before Exporting to a Country
Before you start exportation business or export an item to another country, you must know the demand structure of the people of such country. If there is demand for the item you want to export to such country, you also need to know about their requirements for the quality product. Different countries have their requirements for items entering their shore. All you need to do is to browse the internet and find out what they term ‘quality product.’
You need to get a sizeable amount of money if you want to enter this business wholesale. It must not be too much though. One of the reasons why you need a huge capital is that goods that you want to export may be much or bulky. It is how much you have that will determine how much you can export to the country of destination.
Besides the fund, you need to package the item you are exporting. This will be costlier than the local cost of packaging. The reason is that your item must be well packaged before it can be forwarded beyond the shore of the country.
You cannot do this job alone. You need the assistance of some personnel in packaging, producing and movement of the item. Your employers must have adequate knowledge of this business.
It is not necessary to advertise this business vigorously. You should export based on the need of some people around the world. It is the need for the item that comes first before sending the product over.
There is the need for you to be active online, browsing the countries that need your goods. You need a laptop or a good mobile phone that can browse the internet very well. You need a good internet connection too. You can subscribe to Internet service providers such as MTN, Airtel, 9mobile or Etisalat. Alternatively, you can make use of Wi-Fi at home or office.
Exportation business is a very thriving business in Nigeria today. You need to venture into it today. Although there is much risk in the exportation business, there are many profits in it too. Get other hot business tips here
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