Last Updated on November 23, 2021 by Ope Quadri
There are in the export of products and goods from Nigeria, the way it is other countries, to another country.
One, the exported products must not be on the prohibited list; 2) they must comply with international standards; 3) they must also comply with the specifications of the buyer.
Having meant all the conditions above, the exporter must also have the NEPC certificate to even think of sourcing for foreign buyers.
Another hurdle the exporter must cross is the requirements by the Nigeria Customs Service (NCS) at the point of exit of the goods to the destination country.
The NCS plays a crucial role in the importation and exportation of goods in Nigeria, below are the necessary documents that the NCS expect you to arrange in readiness for the onward approval of your export:
- Export Documentation
- NEPC Certification
- Completion of Form NXP
- Proforma Invoice
- Sales Contract/ Agreement
- Certificate of Quality
- Shipping documents like Bill of Exit
One of the driving factors of a business deal is appropriate documentation like the price, the quantity of goods to be scheduled for export, packaging, the origin of the goods, and shipment among others.
Export documents aren’t only important for the exporter but also very crucial for the clearance of the products by the buyers in his country.
If you failed to abide by the prescribed documentation requirement, your export will be rejected by the Nigeria Customs Service.
Registration with the Nigerian Export Promotion Council (NEPC) is another requirement to get your products cleared at the port for export to their destination.
Completion of Form NXP
As digital as payment has become, you will still be required to complete and register Form NXP with an Authorized Dealer (any Commercial or Merchant Bank) of your choice.
Form NXP is a compulsory document an exporter is mandated to complete for the shipment of goods outside Nigeria. It is also known as Nigeria Export Proceeds
Some of the importance of form NXP include:
1) to certify that the goods to be exported meet the buyer’s expectation,
2) that the products have been certified by the relevant government agencies or ministry
3) that proceeds (payment) due to the exporter are duly repatriated within 90 days of shipment of goods and credited to his Domiciliary Account maintained with the Authorized Dealer that proceed or registered the Form NXP.
4) that only goods that have satisfied the buyer’s order have been shipped that proceeds (payment) due to the exporter are duly repatriated within 90 days of shipment of goods and credited to his Domiciliary Account maintained with the Authorized Dealer that proceed or registered the Form NXP.
The information you must provide in the e-form NXP are:
- Name and Address of Exporter
- NEPC Number
- Description of the goods to be exported
- Quantities and their measurements
- Unit cost of goods
- Total cost of goods
- Other charges, if any
- Mode of transportation
- Name and Address of buyer (consignee)
- Country of destination
- Other documents such as Phytosanitary Certificates, Certificate by SON, NAFDAC, etc.
Foreign Exchange Documentations
As the exporters, you will be allowed foreign exchange chargeable to your Domiciliary Accounts for the following export promotion activities:
1) Business travel allowance
2) Export-oriented business trips duly certified and approved by the bank where the Domiciliary Accounts are domiciled
3) export-related activities such as trade missions, trade fairs, export marketing, research etc.
4) You will be able to sell part or all of your export proceeds in this Domiciliary Account for Naira to any Authorized Dealer
5) You can also use the monies from your Domiciliary Accounts for imports provided it has been repatriated
Procedure and Documentation Requirements
The following is the basic documentary requirements for an export transaction:
- A duly completed Form NXP
- A Proforma Invoice
- A Sales Contract/ Agreement, where applicable
- NEPC Registration Certificate
- Relevant Certificate of Quality as issued by one or more of the agencies stated in 1(d)(1)
- Shipping documents e.g. Bill of Exit, Bill of Lading, etc.
- Other certificates, e.g. Form EUR-1
Before the introduction of the Nigeria Single Trade portal, exporters were put through the challenges of printing six copies of NXP, today, everything can be done online in a few minutes
So, you no longer need to complete the manual form, you only need to complete the form online
In getting clearance from the Nigeria Customs Service for your exported products, it’s important that you work with a bank that is responsive and process your Nigerian Export Proceed form as quickly as possible.
In the exportation business, you can’t skip one of the steps involved to proceed on another. The processes involved depend on one another.
Finally, you must make sure that the products to be exported aren’t on the export-prohibited list
Finally, you can not export all goods that are imported into Nigeria
Ope is the Head of Content at InfomediaNG. He’s a researcher whose interests cut across real estate investment, stocks, financial technology, and youth empowerment. He’s awesome in Content Marketing and SEO. Favourite Tools: Google Analytics, Canva, UberSuggest