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Nigeria is a country naturally blessed and endowed with items that are in serious demand in the export market around the world. We are not only blessed with solid minerals (besides crude oil), we are also blessed with good climate and weather condition to support the growth of commodities that are industrially useful in the developed nations. No wonder an Asian will come into the country with a briefcase and 2-5 years down the line, he would have become an employer of labour by harnessing our resources to build wealth for himself via export business opportunities in Nigeria.
This seminaris aimed at awakening Nigerian business men, graduates, employees, fund managers professionals students and young entrepreneurs to consider the possibilities of exporting while they are still very active on their job. This business is not only very profitable about 25-100% ROI (return on investment), it also has a short transaction cycle of about 6-8 week. It is a very good plan B, and it could therefore constitute very good option in your exit strategy as an employee and also serve a source of information to those undergraduates and graduates interested in entrepreneurial business development.
IMPORTANT OF EXPORT FOR AGRO/FOOD.
* Export trade provides one of the most vital links with the outside world. The exportation of goods and services for most nations take place through the nation’s sea and airports and some by road.
* Export business facilitates foreign exchange earnings and gives access to capital, intermediate inputs and even raw materials that cannot be obtained locally.
* Exports could be defined as those goods, services and securities that a country sells abroad and receive income in return.
* Exports are credit inflow or injection while imports are leakages in a country’s economy.
According to Oxford Dictionary [2003], export is defined as a process of earning profit by selling products or services in foreign markets. It is a legitimate transfer of goods and services across political boundaries, for reasons of profit.
EXPORT PROCESS IN NIGERIA (EXPORT PROCEDURES)
The following are step-by-step process of starting up an export business in Nigeria;
* Register a limited liability company through your lawyer, and obtain your certificate of incorporation from CAC (Corporate affairs commission).
* Obtain your export license from NEPC (Nigeria export promotion council).
* Prepare and plan your export
Secure an export contract
Source for your products and transporting them to the port areas.
* Process NXP ( Nigeria export proceed) form and NESS (Nigeria export supervision scheme) fees through your bank.
* Arrange for ware-housing and inspection services
Engage a freight forwarder
Book a truck and a container.
* Loading and sealing of container.
* Transportation and GIT (Good in transit) insurance to port
Customs inspection at port.
* Delivery to shipping line.
* Obtaining transport document from the shipping line.
* Obtaining inspection report from the inspection company.
* Obtaining customs documents.
* Forwarding document to supplier (directly or via bank).
* Submission of post export documents to the bank.
* Payment of export proceeds.