The Business or individuals who wish to export from Nigeria is required to register with the Nigerian Export Promotion Council (NEPC). An exporter is required to complete and register Form NXP with an Authorized Dealer i.e., any Bank of his choice, in Nigeria.

The Nigerian Customs Service have prohibited some items for exports. This means you are not allowed to export these goods. Any attempt to smuggle them across the border will be deemed illegal. They include:

  1. Maize
  2. Timber (rough or sawn)
  3. Raw hides and skin (including
  4. Wet Blue and all unfinished leather) H.S. Codes 4101.2000.00 – 4108.9200.00
  5. Scrap Metals
  6. Unprocessed rubber latex and rubber lumps
  7. Artifacts and Antiquities
  8. Wildlife animals classified as endangered species and their products e.g. Crocodile; Elephant, Lizard, Eagle, Monkey, Zebra, Lion etc.

Lakinberg provides exporters with an international market of ready buyers.

Common Export Documents include:

  • Commercial Invoice;A commercial invoice is a bill for the goods from the seller to the buyer. …
  • Export Packing List.
  • Certificate of Origin
  • Pro Forma Invoice.
  • Airway Bill.
  • Generic Certificate of Origin.
  • Dangerous Goods Certificate.
  • Insurance Certificate.
  • Shipper’s Letter of Instruction.

However, each commodity might also require additional documentation.

Yes! Exporters can negotiate the most competitive rate with Importers on our trade platform.

Lakinberg has a legal framework that protects and binds all parties under the US laws. A trade contract is signed between Buyers and sellers on the platform, so we ensure peace of mind and see to the end to end of transactions along the value chain. 

A guide for your flawless export business

  1. Step 1: Register your export business with NEPC
  2. Step 2: Register with Eximtradeoptions and go to sleep!

Common Export Documents include:

  • Commercial Invoice. A commercial invoice is a bill for the goods from the seller to the buyer.
  • Export Packing List.
  • Pro Forma Invoice.
  • Airway Bill.
  • Generic Certificate of Origin.
  • Dangerous Goods Certificate.
  • Insurance Certificate.
  • Shipper’s Letter of Instruction.

There is a list of Commodities on our website that will help you but some are: Ginger, Cocoa butter, Rubber, Palm kernel oil, Textiles and garments, Gallstone, Sesame seed, Garlic, Yam tubers, Charcoal, Cotton, Cassava floor, Cashew Nuts, Honey, Shrimps, Snail, Chili pepper, Fruit Juice, Poultry, Cosmetics and Soap, wigs and hair attachments.

In general, an export procedure flows as stated below:

  • Receipt of an Order.
  • Obtaining License and Quota.
  • Letter of Credit.
  • Fixing the Exchange Rate.
  • Foreign Exchange Formalities.
  • Preparation for Executing the Order.
  • Formalities by a Forwarding Agent.
  • Bill of Lading.

There are still substandard products in the market due to activities of some dishonest individual who smuggle substandard product into and out of the country.

  • Some importers also deliberately request that foreign manufacturer manufacture products below standard specification for profit purpose.
  • Lakinberg is working in line with SON to bring the level of substandard products to manageable level with due diligence, quality assurance and standardization.

Incoterms are universal trade terms published by the International Chamber of Commerce (ICC.) They consist of three-letter codes that are intended to clearly communicate the tasks, costs and risks associated with the transportation and delivery of goods in an international transaction. They describe how responsibility is allocated between the seller and the buyer for different parts of the transaction.

Unfortunately, there is no universal answer for this. It is entirely dependent on the industry you are operating in. Each commodity being imported into United States, or exported out of Nigeria, must comply with a variety of product-related regulations, as well as customs regulations. It is important to understand the regulations in detail to minimize any potential liability and meet destination standards.

We receive this question a lot. Unfortunately, there is no easy answer! The first step for a trader looking to set up a new export business is to obtain market information. The commercial success of export ventures relies on insightful understanding of the commodity in the export market. This encompasses trends, local competition etc.

 

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