How to Start Export Business in Nigeria

In Nigeria, there are importers and there are exporters, and they both make huge amount of money from their import and export businesses. Do you want to know how to start an export business in Nigeria?

Do you want to get involved in an industry that contributes than 23% to the country’s GDP according to the Nigeria export statistics. The import/export business is the key driver of growth or recession in any country. Depending on if there are more imports or exports than the other, the effects it has on every economy, including Nigeria’s, is always profound. Taking a closer look at “Export Business in Nigeria”, it has to be said that Export business is one of the most lucrative businesses you can embark on, as there are a lot of opportunities that abound in the export business. While this industry is largely run by the private sector, the government regulates all of the industries and still maintains some state-owned products like crude oil to be exported only by the country, with the help of brokers to facilitate a lot of the transactions. There are various opportunities, owing to the fact that just as some commodities sell cheap in other countries but costs more when imported into Nigeria is the same way some commodities sell cheap in Nigeria but costs more outside the country.

 

Start Export Business Nigeria

Making a decision to go into business is just as important as the kind of business to go into, if not even more important. No one can afford to spend so much time, resources and energy on a business and watch it not work out. So it can be established that the fear is justified. Export business is one of such businesses that would always come in handy when you are considering the kind of business to go into. One of the great things about the export

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business is that it is not limited by a boundary. The possibilities for exportation is vast, and in a country like Nigeria that’s rich in mineral resources and agricultural products into the import/export business is a great bet for any entrepreneur in any country around the world to take up. Truth be told, exporting business is quite challenging, even though it’s quite lucrative and you would be ‘flying a plane while reading the manual’ if you decide to dabble into export business without going through a post like this to enlighten you on what you need to do know to run a successful, legal and hitch-free export business in Nigeria.

Steps by Step Guide to Starting An Export Business

 

Register A Business Name

Registration of the business name,
Registration for Private Limited Company (LTD),
Public Limited Company (PLC),
Company Limited by Guarantee (LTD/GTE),
Unlimited Company (ULTD)
Incorporated Trustee.

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