Starting An Exportation Business In Nigeria

We are all very familiar with importation of goods and services into Nigeria from countries around the world e.g China. Importation is the most common business model practiced by a lot of indigenous companies in Nigeria.

For example, a Nigerian businessman that want to start and electronics or household appliances business, would love to import in large quantities at a cheaper price from China and sell at a slightly higher price to customers in Nigeria thus making profit.

export from nigeria

Now how do you start an exportation business in Nigeria to other countries that need these goods or services. Believe it or not, Nigeria is blessed with natural resources that are in high demand in countries around the world.

We will look at the requirements needed to get your exportation business up and running and in no time, you will find it easy running this business.

Initial Capital

Every business needs a startup capital no matter how small or big the business is or will be. There would be setup cost needed to have a firm footing or foundation for your export business. You may need to pay for the registration of your export business name, procuring and packaging your goods and services.

Product Availability

The first and very important requirement, is the availability of the product you want to export. You can start an exportation business without deciding on what good to export. Is the product available in large quantities? This is important in the event that large orders are placed on your product. There’re lots of scam out there where fake business man claim to have and deliver products that don’t exist. Examples of goods to export are: cocoa, palm oil, cassava, rubber, wool, cotton, wood logs (Iroko and Mahogany) groundnut oil, cashew, garlic, etc.

Setup An eCommerce Website

It is crucial to setup an eCommerce website similar to Jumia or Konga for instance, if you don’t know what I’m talking about. You may consider hiring a Web developer to set this up for you. You will also need to promote this website using advertising on social media platforms.

This website most have payment gateways integrated to it. These are convenient ways to make payment for any product or service. You may consider opening a domiciliary account for international wire transfer payments for USD Payment routing.

What Delivery Service To Use

After an order has been placed on your good, how do you deliver it overseas. To do this, you might consider using a parcel service. You can use NIPOST (Nigeria Postalal Service).  Delivery of parcel using NIPOST may take up to 72 hours for International or Overseas parcels. You can check out their website: http://www.nipost.gov.ng/Parcel_Post.aspx  for more information.

Further Reading

Business template for starting an export company

 

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