How to export products from Nigeria to other countries around the world. We are basically tapping into opportunities in the non-oil products in Nigeria like Cashew nuts, ginger, and sesame seed among others
The military regime of Gen Olusegun Obasanjo in 1976 approved the establishment of the Nigerian Export Promotion Council (NEPC) through Decree No. 26 of 1976 which has now become an Act.
Dr Ezra Yakusak will replace Mr Segun Awolowo as the Chief Executive Officer (CEO) of the Nigerian Export Promotion Council (NEPC).
Segun Awolowo, whis the grandson of the late sage Chief Obafemi Awolowo, was first appointed by the administration of former President Goodluck Jonathan in November 2013.
Since the Federal government through the Nigeria Export Promotion Council (NEPC) announced its determination to scale up revenue from non-oil exports, the number of exporters in Nigeria has dramatically increased.
In 2020, Nigeria spent around $56.61 billion USD on imports while in the same year under review, products exported from Nigeria to international markets were around $34.54 billion USD. In economics and trade, that’s a trade imbalance or trade deficit of around $22.07USD, the data obtained from the National Bureau of Statistics (NBS) put the Naira value at N7.37trn.
There are more than 20 Nigerian products foreign buyers are searching for in the international market, you can tap from this goldmine if only you can find the right channel and know which products sell most in your target market.
Somalia, Eritrea, Libya, South Sudan, and Central African Republic are the top five worst African countries to do business. And those who have been following political development in these countries may not be surprised considering the fact that crisis is peculiar to at least four of them.
With 1,380,614,641 people, making it the second most populated continent, Africa remains an investment destination for foreign investors who want to tap into the market strength of the continent.
A favourable business environment is one of the key factors that drive foreign investors to a country. Government policies, security, infrastructural development are some of the things investor put into consideration, and some African countries are more serious and committed to ease the way business is done in their country.
Summary: Located in the Horn of Africa, Ethiopia is the second largest market in Africa and has enough resources to drive Foreign Direct Investment (FDI). The country’s huge investment in infrastructural development in the last 10 years is showing positive result while its rich soil is favourable to agriculture produce. As juicy as the country’s resources are, Ethiopia is still faced with some challenges.
Summary: A Federal lawmaker is proposing a bill to force the CBN to close all domiciliary accounts in Nigeria as one of the measures to make the Naira regain its value. Can the implementation of such economic advice make $1 to N1? We examine some of the implications of stopping Nigerians from operating dom accounts
Any investor in the United States, Germany, and Italy among other advanced economies who wishes to their business to Africa, will most likely put Nigeria on their list despite many challenges confronting the country.
One of the major non-oil exports that contributed largely to Nigeria’s GDP in the last 10 years is sesame seeds. Its cultivation is popular among Northern farmers in Jigawa, Benue, and more than 20 other growing states.
Clearing and forwarding companies can’t be neglected in the supply chain of goods across the border. As such exporters and importers can’t do without them.
A few weeks ago, specifically May 06, 2021, the Central Bank of Nigeria (CBN) insisted that it will continue to block the importation of maize into the country by denying importers access to foreign exchange.
Export prohibition items are products and goods that are legally banned from being transported outside the country of jurisdiction.
In international trade, a supplier or seller must be guided by trade and export laws in their country of residence and the destination country of goods.
The Godwin Emefiele-led apex bank announced Tuesday, September 14, 2021, that Nigerian International Financial Centre (NIFC) will be established as a measure to boost Foreign Direct Investments (FDI)
In international trade, some items cannot be imported from the producing country to another, Nigeria is no exception. There are some goods that are on the list of the Nigeria Customs Service, a security agency of the government that monitors the movement of goods into and out of the country, which is popularly called contraband.
The movement of products across the border isn’t the same as inter-state trade. The seller can personally deliver an order from Ibadan to Lagos where his customers are based, it isn’t like that in international trade. Because of this, an exporter has to understand the export market before diving in.
Logistics is key to a successful export business that’s why it’s very important to understand the delivery process.
You may have great orders from prospective buyers coming in every week from around the world, a poor delivery could hinder your effort.
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.