Nigeria is a country with an incredibly rich and fertile land for natural and mineral resources. You can discover various resources almost anywhere. Foreign investors can export farm and agricultural resources and even take part in their production. In this article you will read about other methods of how to start export business in Nigeria.
Export in Nigeria
Export business is very profitable in Nigeria. We all know that resources from Nigeria cost a lot in other countries, while their price inside Nigeria is much lower. Before you start your export business, do some research on what products are in demand in other countries.
How to export goods from Nigeria to other countries
1. Engaging in any business is very complicated. Export business is full of risks. Since you are planning to deal with foreign countries, you need to have a proper education or some special training, that will give you an extensive knowledge of how to handle your future business. You can even attend export focused workshops and lectures.
2. Choose a nice and unique name for your company. It can be a simple name (like well-known ‘Apple’) or a longer one, but it definitely should be quite easy to remember.
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3. It is obligatory to make your export business legal. You can register it with the Corporate Affairs Commission. This will help you to look good and respectable in the eyes of your foreign business partners.
4. You will need an address for your business registration. It is better for it to be an actual, physical office.
5. Additionally, you need to register your business with the Nigerian Export Promotion Council. You can do it on their website, there you will see all the necessary requirements. As a Nigerian exporter, register Form NXP, and then obtain licenses and other required permits.
6. To promote your new business and attract clients from all over the world, you can use the Internet. Create a good website with detailed information about the products that your business sells.
7. Also, don’t neglect trade fairs and various business meetings that can help you get more clients.
Exportable goods from Nigeria
Another important moment that will determine the level of your success in export business is what products you will export. Choose those resources that are in abundance in Nigeria and are easily accessible. Therefore, you will be protected from a sudden shortage.
This is a list of some products that you can export:
• ginger – Nigeria is one of the largest producers of this product.
• garlic
• palm kernel oil – this oil is a very popular product used in the manufacturing of beauty products and in the production of sweets.
• textiles – the biggest market for Nigerian textiles is in the United States. Americans cherish Nigerian designs with authentic ethnic elements
• rubber – Nigeria’s laboratories certify rubber, for this reason, this product is exceptionally needed in Europe and the USA.
• cocoa – there is no country in the world that doesn’t sell chocolate. Cocoa is the main ingredient for the genuine chocolate. It is even called a super food for its unique properties. Cocoa butter can help you treat a sore throat, it moisturizes skin and can improve your health.
• sesame seed – it is the second most exported product.
• honey – the average price for a kilogram of Nigerian honey is $150
• cotton
• cashew nuts – highly needed in India, Brazil and Vietnam. These countries process raw nuts and sell them to the USA and countries in Europe.
• snails – very popular product in Europe.
• chili pepper – this product likes Nigerian climate and grows in large amounts.
• fresh juice concentrates
• cosmetic soap
As you can see in this article, export business is not that scary or demanding. There are many products and resources that can be exported from Nigeria to foreign countries. Remember, there is always a big demand for Nigerian resources in other countries.
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