Interested in starting an export business right here from Nigeria?
By export business here I mean to send your products to other countries, places where they are mostly needed.
Nigeria is known for her natural resources, cocoa, oil products, plantations and different varieties of food stuffs.
Without putting some things check, exporting your products will be much difficult for you, even though with this international business is among the most profitable businesses one can engage.
If your exports are sound and legit, then you are sure of making faithful customers, money and peace of mind.
The key behind all successful exporters is good reputation, a thorough knowledge of how the exportation works and enough capital to start the business.
With all these, you are good to go!
Export Business in Nigeria
The first thing you should do is to know everything about the product you want to be exporting from Nigeria, register with the required bodies and start the business.
Steps to Take Before You Start Exporting
1.) Look for an Exporter that has recorded success, learn from him, the secrets of the business or because you wouldn’t want to record any loss as a beginner.
Remember, “Experience is the best teacher”.
Better still, register for an Expert business course in Nigeria, preferably, online because there is a whole lot of information, it could be in form of seminar, private tutorial and or Exportation business video recording tutorial.
2.) After you have gained prior knowledge of the Export business, now is the registration.
- You register with the Nigerian Export Promotion Council (NEPC)
- Register with Customs by completing the form NXP
- Obtain special license and permit for the goods you want to deal on
- Go for goods verification to check if your products are in the list of prohibited goods
- Register with an insurance company
- Having read my previous published post, decide on the logistic company you would partner with
- Register your business name
- With the seminars and training you have undergone, you should be able to decide what business you would export. Remember to trade on valid and legit goods.
- Find out what the foreign interest are i.e what the foreigners are willing to buy, because its them you are dealing with.
- Endeavor to have a good source of the products you want to export to avoid unnecessary scarcity.
- Open or own a valid bank account and make sure you obtain Permanent Account Number (PAN)
- Obtain Importer-Exporter Code number (IEC)
- Obtain Registration Cum Membership Certificate (RCMC)
When you have obtained all the obtainable and made good choice of products to export, nothing will stop you from expanding your coast.
List of 16 Exportable Goods or Products from Nigeria
Since Nigeria is richly blessed with natural resources and Agricultural products, exporters can make ends meet with the God’s given resources which are groundnut, cocoa, cotton, cocoyam, rubber, palm oil ginger, sesame seed, pure honey, yam, charcoal, cashew nut, snail.
The peanut or monkey nut, according to researchers are good source of fiber and good fats.
It can help with heart health, it gives protein, vitamins and minerals, it is found to have more protein 7g per serving more than any nut.
Groundnut is exported from Nigeria to international buyers in various parts of the world. It is exported semi-processed and is processed at the buyer’s facility for its intended uses.
The Industrial Uses of Groundnut
In most countries, the primary use of groundnut is strictly for oil production, which is used by cosmetics industries and local consumable oil producers.
In the United States, Argentina, Nigeria and several parts of the world, the crop is used as food.
Cocoa bean or cocoa, is the fermented and dried seed of the obroma cocoa. Mixture of non fat substances and fat substance (cocoa solids and cocoa butter) can be extracted.
The Mexicans use it to produce Tejate drink with maize. It is exported to Netherlands, United States and Belgium for processing.
The Industrial Use of Cocoa
- The economic importance of cocoa cannot be over emphasized because of its high demand.
- It is used in both developing and established markets; its main use is in the chocolate industry for culinary purposes.
- It is found to have some medicinal values when you eat or drink the cocoa beans, thus, it is one of the richest source of polyphenois.
- It reduces inflammation, lower blood pressure, better blood flow, improve cholesterol and blood sugar levels.
Ondo in Nigeria is the highest cocoa producing State rating 60% and other countries like Ogun, Akwa-Ibom, Edo and Ekiti
Cotton is a soft, fluffy stable fibre that grows in a protective case around the seeds of the cotton plants the fibre is spun into yarn or thread and it is used to make a soft, breathable textile.
It is the most widely used natural fiber cloth in clothing today. It can be processed into jackets or normal shirts, it is used as bed sheets and curtains.
Its seed oil is used in cosmetics and food. Also used in coffee filters, the seeds are further used in feeding cattle and crushed to get oil, plastics and rubber, it is a food and fiber crop.
It is researched to be the best alternative for making baby foods. The leaves are used for making soup.
It is blended and used for thickener in cooking oha soup, bitter leaf soup and baking. It can also be cooked as porridge.
Cocoyam is very high in zinc, potassium and nicotinic acid. It also has minerals, proteins and vitamins.
It is most importantly used in vehicle tires. It is found in their inner tubes and liners, wheels of cars, trucks and bicycles.
Rubber is an important product to come out of the rainforest and in a refined version, it is used for vulcanization.
Rubbers is used widely in production of belts, malting, flooring, medical gloves, hoses. It is also used as adhesives.
It is needful because it exhibits high resilience, tear resistance, good flexing qualities at low temperature. It also serves as great insulator and used in making shoes, bags etc.
6.) Palm Oil
Palm oil is used for cooking, frying and weight loss. Commercially, it is used by the cosmetic industries and also to produce soap, toothpaste, lubricants, ink and waxes.
It is widely used in food processing like cereal, peanut butter, bread, margarine, chocolate. Personal products like shampoo, cleaning products and biodiesel is inclusive in the use of palm oil.
It restores hydration of skin, it nourishes stretch mark, eczema and psoriasis affected skin areas.
It is one of the most valuable spices in our world today and Nigeria is one of the most producing countries.
It’s disheartening to know that Nigeria as one of the most producing countries doesn’t take interest in exporting it.
You can start a trans-Atlantic trade with one of the good products and make cool cash.
8.) Sesame Seed
This is familiar with the people of Jigawa and Benue State in Nigeria.
After cocoa, it is the second product that generates fund for Nigeria and she is the 5th largest country to produce it.
9.) Pure Honey
It contains enzymes like vitamins, sugar minerals and amino acids. A kilogram cost $450 in the international market.
As there is high demand of it in Spain, USA, France, Belgium and Portugal, you are sure of making foreign currencies.
Charcoal market has been established in EU, Asia and USA. You can even own a Charcoal Industry based on my previous article and have exporters to buy from you, stress free.
12.) Cashew Nuts
Since it is grown in every part of the country, it is exported to Brazil, India and Vietnam who process them into kernels and later move them to North America and Europe.
13.) Grounded Pepper (Chilli)
Due to our good weather, Nigerians grow and produce chilli pepper which other countries of the world crave for. Going into the business can change your world.
Americans and Europe desire to eat snail daily and rearing it is stress free and cheap.
15.) Cassava Flour
The way you as a Nigerian value Eba, Tapioca and the various types of processed cassava, is the way Europe, America and other countries of the world loves the flour.
They love it even more than you have ever imagine. if you decide to go into cassava flour exportation, believe me, you will be making a very wise choice.
Nigeria is among the highest producers of yam, she was able to make US$450 million exchange in 2009.
Why should you start the business? That’s because people have low interest in exporting yam. You can seize this opportunity to venture fully into it.
Yam is very rich in potassium, copper, fiber, manganese and antioxidants. It boosts brain health, improve blood sugar control and reduce inflammation.
Another good thing about yam is that it is easy to prepare and with some vegetables, you won’t say no to the sweet and savage taste.
Challenges of Export Business
Every business has its own challenges. Nothing good comes easily. However, if you persevere, you will see yourself making it to the top.
The various challenges you might encounter are:
- Customs and taxes
- Getting export license/documentation
- Logistics cost
- high and unstable product price
- Natural factors like agricultural produce pest and disease
- Loans and finance
- Getting reliable products and suppliers e.t.c.
Having discussed everything involved in this business in Nigeria i hope this post actually guides you on the choice of goods to export.