How To Start An Import/Export Business In Nigeria: A Short Guide

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The import/export business is the key driver of growth or recession in any country. Depending on if there are more imports or exports than the other, the effects it has on every economy, including Nigeria’s, is always profound.
While this industry is largely run by the private sector, the government regulates all of the industries and still maintains some state-owned products like crude oil to be exported only by the country, with the help of brokers to facilitate a lot of the transactions.
The possibilities for exportation is vast, and in a country like Nigeria that’s rich in mineral resources and agricultural products as mentioned in another article, venturing into the import/export business is a great bet for any entrepreneur in any country around the world to take up.
See Also: 100+ Hot-Selling Products You Can Export From Nigeria And Get Paid In Dollars
What Is The Import/Export Business About?
The import/export business is about the importation and exportation of goods and services from the shores of every country around the world.
An exporter usually gets a purchase order from an importer. And after all the co-requirements are met by both parties, a deal is signed—where the importer would usually sign a year-long contract with the exporter, which is then adjusted to 5 years after a first successful one-year delivery.
Facts And Benefits Of The Import/Export Business
- It can build or destroy a country’s economy
- You need license to be a direct exporter
- It can be capital intensive
- It can also be started with $0
- There’s always a lot of mistrust issues between the importer and the exporter
- Most products you want to import or export are already banned
See Also: How To Start A Diesel Supply Business In Nigeria: The Complete Guide
Business Opportunities In The Import/Export Business
1). Direct Goods Export:
Here a company who manufactures locally could source international clients for their business and export their products to them. This is usually capital intensive, as you have to either be producing the products yourself, which will cost money, or you may have to outrightly buy out from the producers to export with your own margins.
2). Export Management:
Export management companies help organizations who have products for exports but don’t know how to go about it or don’t want to know at all. What the export management company does is to act as a consultant for the direct supplier, communicate with the buyers using the supplier’s company name, and close deals on behalf of the supplier.
The supplier would usually have a fixed amount they pay the Export Management Company monthly, and also a commission they’d earn on every successful sale.
3). Export Brokers:
This is the most popular, safest, and effective exportation angle to come in from. Here you act as a broker for either the importer or the exporter or both.
If for instance, the cost of white Sesame seeds from Nigeria $1,500 per ton, you could strike up a deal with a supplier to accept $1450 per ton or better still, you could source a buyer that would purchase from you for about $1,550 per ton.
Brokering any export transaction is the best way to approach the industry because, you can be exporting different products across various industries, and still generate far more profit margins than the people you’re brokering on their behalf.
Requirements For Starting And Import/Export Business In Nigeria
- Register The Business
- Register With The Nigerian Export Promotion Council (NEPC)
- Register With Customs By Completing The Form NXP
- Obtain Special Licences And Permits For The Goods You’re Dealing In
- Verify Your Products Are Not On The Prohibited Goods List
- Get Your Insurance Covered
- Partner With A Freight Forwarding Service Company To Ship Your Goods
For an in-depth explanation of each requirement, please read our other article here >>> 10+ Legal Requirements For An Import And Export Business in Nigeria
How To Find Buyers For Your Import/Export Business
- Leverage LinkedIn To The Fullest
- Register With Export Promotion Councils (EPC)
- Find Local Buyers Who Represent Foreign Companies
- Fill Orders From Local Buyers Who Export To Foreign Organizations
- Register On International Trade Platforms
- Have An International SEO-Ready Website
- Do Email Marketing
- Hire Overseas Agents On Commission Basis
- Contact The Countries Chamber of Commerce
- Participate In Trade Fairs
- Get Import Lists From Foreign Embassies
- Internet Marketing
For an in-depth explanation of each method, read our other article here >>> How To Find International Buyers For Your Export Business
Challenges Of The Import/Export Business
- Problems with financing and loans
- Volatile exchange rates
- Customs and taxes
- Natural factors like drought, pests, and diseases for agricultural products
- Sourcing from reliable suppliers
- High and unstable product pricing
- Logistics costs
- Poor product modification to meet international standards
- Getting export license and documentation
- Government policies always interrupt long-term contracts
See Also: 8 Ways to Reduce Transportation Costs in Nigeria — And Grow Your Profits
Conclusion
Starting an import/export business in Nigeria comes with both its pros and cons. If executed well, the seller could rake in a whole lot of money. But if not well managed, significant losses could be recorded.
While most people believe exportation should cost you millions of dollars, going in as a broker and leveraging a wide network of local suppliers to supplement your goods sales will go a long way in helping you build a successful business that won’t just enable you to generate high revenues in widespread broker commissions, but will ensure you contribute positively to Nigeria’s or your own country’s GDP.
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My main challenge is how to find an intermediary that will buy my goods and what type of agro goods are hot cake.
Hi Taiwo,
What products do you produce or sell?
Comment it here and also send me an email at [email protected]
Thank you for asking.
Hi stan,
Thanks for the write-up. Very insightful!
I’m glad you found the article helpful, Omoniyi.
Do have a great time.
So you know of any export broker you can recommend? I am in need of one.
Hi Abraham,
We run an export brokerage service.
What items do you have for export and in what quantity?
You can send an email to [email protected]
Thank you for asking.
I also have people that can sell soya beans and white sesame seeds in large quantities. if interested,whatssap me on 09072080781
Hi Kabiru,
Email us your full product line at [email protected]
We could list your business on our export partner list.
Have a great time!
i visited ur site fo the first time n the article which u have return is absolutely amazing, the emotions in this story was really touchy. thanks for posting this wonderful article. i felt the pain u have shown…. keep posting…
Do u have trainings for beginners? I’m interested in import/export biz…
Also, hw abt import of gadgets etc?
Hi Bosede,
We’ll have a training up soon.
Do look out for it.
Thank you.
I’m interested in this Export and Import business but I have zero idea.u have trainings for beginners?
Yes we do, Ahize.
Please visit here to learn more about the export course >>> https://exportcourse.startuptipsdaily.com/
Thank you.
This is a wonderful article. thanks alot.I have be plaining to start an export business. my major problem, have being getting reliable and trustworthy persons to stands as intermediate for my company.
Hi Fanny,
What products do you intend to export?
This is an nice informative blog because planning to invest in import export business and really need a guide to do it professional….thanks for sharing your ideas.
am highly interested in import/export business,I base on farming like cassava flake,maize,Guinea corn. I need a trusted partner company that can partner wit me
my name is george and im interested in becoming an import/export brooker in nigeria. kindly hit me up on training details. whatsapp; 09031647423. email; [email protected]. tanks in advance.
pls i need to be connected with the right people to start
I have many crops to export how can I go with it crop like sesame seed, groundnut, hibiscus flower, am in Kano and am dealing with all this business. how can I get suppler oversea? thanks.
hi Bamidele Gbamila,i just came across your comment here and i would like to propose to you what i have been working on,concerning exporting groundnut overseas. which you can reach me on 09037037742(call / Whatsapp)..thanks, while i look forward to read from you
My name is Mfon,I am interested in exporting Agro products like Palm products e.g palm oil,kernel etc,and also crayfish. Can you help me source for international markets?
holla me on 08062400114
Impressive post. My company is highly interested in import/export business,I based on agro products like cassava flake,maize,Guinea corn. I need a trusted partner company that can partner wit me. If you have clients we can also work together.
It is not difficult to start the export business in any area the only need is that you have sufficient sources and goals and motive to start this business and makes different strategies and implement on your business to achieve your business goals.
I need to start export can I have a good trust and truthful person please cal me on 07061286427
This is a nice post. Thanks for sharing.
hello am hammed am highly interested in importing and exporting of raw material how do I start up.
Nice post.
Please I am into agricbusiness in
the international market and in need of local sellers to buy from. Can you link me to some credible ones.
Thanks.
Hi, Oluchi, we are Foss Agro Nigeria Limited, we focuse on Exporting agro products to europe especially groundnut. we would like to know what product you need so as to come in as a supplier for it. Moreover you can reach us on 09037037742( Call /Whatsapp). Thanks
Hi Oluchi, we are Demfield Global ltd. We are into exportation of agro products such as unadulterated palm oil, melon, beans etc. Pls do let me know what you want.
My contact +2348027066219
Good day,please i have the intentions of exporting farm produce but don’t know to go about it…..
I Most Say That You Tried For Giving Out The Full Lectures About Exportation Business In Nigeria, Thanks Very Much
Just a complete novice on import and export but interested in it. How can I be an expert in it. Thanks.
Good one more grace, pls can I come to your office for details
I just registered my company with cooperative affairs and the export promotion council willing to start charcoal export to Turkey and China,but finding prospective buyers is my problem, I even intend to visit these countries to souce buyers. Please advise me on how to go about it. Thanks Ahmed Ahmed Safiyo from kano
You can source buyers from LinkedIn first, rather than travelling.
Hello, I market Palm Oil, Bush mango (Ogbono) and melon (egusi) but my problem is packaging it for international standard and getting ready buyers.
I already have a registered company (LLC)
GOODDAY
Please I intend to start the charcoal business and export ZOBO leaves/ginger etc.
I prefer to be a broker.
How can i go about it
Hello.Thanks for the info.I’m also interested in the export biz.Interested in exporting charcoal and agro.Pls,how can I go about it.sourcing for international buyers. Tnx.my no is 09091121011 and 08120592842
Henrietta, contact me on 08033101027
I came across this post it is really nice. I have interest in exporting products. My challenges are not different from others. How to get international buyers. Your advice would be helpful to me. 08038205699
Thank you.
I am a novice but want to learn how to sell package dried catfish and other farm produces abroad, sourcing for foreign brokers or buyers.
I was asked to present a well proposal on it.
Please your assistance. Thanks
Please send an email to [email protected].
Thank you.
Thanks for the article
I want to be an exporter as a beginner what do I do
I mean training
Hello. I found your article quite helpful. Do you have a physical office address?
i just want to get started on the business i need more help
This article is a wonderful one. I am a quality dried catfish producer and will like to export my product. How can I go about it.
Great article
Thanks for sharing Stan.
Thank you, Vitus.
Hi Stan
Please I am into agricbusiness and I have Palm Oil, Bush mango (Ogbono) and melon (egusi) groundnut,soya beans,crayfish and white sesame seeds in large quantities.
Can you please link me to some credible ones.
my major problem is being getting reliable and trustworthy persons to stands as intermediate for my company.
So you know of any export broker you can recommend? I am in need of one.
thanks for the information
good one keep it up
Hello Stan,
I found this article very insightful and educative, thanks for sharing.
I’m a Nigerian based in the UK and am looking to get into export business in Nigeria. As highlighted in this wonderful article, maybe starting as a broker would make a lot of sense.
Wth this African continental free trade area in the horizon, i think many diasporas would want to come back home and help boost the African economy.
I will order your ebooks for more insights but is there any more tips n hints for a novice like me.
Thanks
Chudi
Email: [email protected]
Hello sir, am very very much interested in the exportation business, but without registering a company, can I start as a local seller to an international buyer, I want to supply dried crey fish and other Agro products, please give me a link thanks.
It is nice but how will I get the explanation and can you send corporate bodies engaged in exporting produce and please can you send it now.
Hi Samitha,
Please send an email to [email protected] and we’ll give you a clearer explanation.
Thank you.
Please I want to be a broker and sell my goods abroad? How can I please?
Please read this article here >>> https://startuptipsdaily.com/how-to-start-commodity-trading-become-a-commodity-broker/
Thank you for asking, Adegboye.
Am in love with your write up and am interested in import and export business but I don’t know how to start.I will apreaciate 08038166169 if we can talk.
Thank you for reading, Sadiss.
I suggest you take our online export course here to learn everything about the export business >>> https://startuptipsdaily.com/how-to-make-money-exporting-commodities-from-nigeria/
Thank you.
My name is Ayo from Benin and I have a partner in China that’s wants to bring his trucks to Nigeria and want to go into partnership with me.amd asked me to open an import company in Nigeria,plz how do I start this import business company?
Hi Esezobor,
Please send an email to [email protected] and I’ll be happy to help.
Thank you.