There’s been growing interest among several Nigerians about the export business in Nigeria This is likely because it’s one of the businesses in Nigeria that have been considered as highly profitable over time.
Plus starting an export business is a kind of business that is not limited by the boundary. It cuts across many countries, therein providing a larger market for exports.
Exportation of products is a great opportunity for businesses to increase their sales potential. If you are a medium or large scale business owner who already has a wide reach within the local market, you may want to consider going into exportation.
Besides, the local markets are becoming saturated and thus may become restrictive and be limiting for your business.
Hence you may want to explore new opportunities in the international markets and expand your business by searching for new markets abroad that you can sell your products to.
However, for you to be able to legally participate in export transactions in Nigeria, you will be required to obtain an export license.
It is therefore important that you understand what an export license is and how you can get one.
Even if you do not consider it necessary to obtain one; with ample information about it, you may just decide to initiate the process of securing one for yourself or perhaps assist someone else who is looking to obtain one.
What is an Export License?
An export license is a certificate that gives you the authorization to embark on the certain type of export transaction.
This means that an exporter, looking forward to successfully carry out export transactions, will be required by law to have an export license.
Having this license will, therefore, grant you the permission to legally carry out a shipment of commodities which are approved by the government. The government agency in Nigeria responsible for granting and issuing this license is the Nigerian Export Promotion Council (NEPC).
This government agency has the responsibility of issuing out export licenses for the exportation of agricultural commodities and manufactured goods.
How can I get an Export License in Nigeria?
To obtain an export license, you should first ensure that have a legally registered limited liability company with a registered office in Nigeria.
This is because you will be required to provide details about your company when registering for your export license.
Once that is confirmed, then proceed to log on to the NEPC website: www.nepc.gov.ng or visit any of the NEPC offices to commence, your registration and application.
During your registration process online, kindly ensure that you have your company’s certification of Incorporation and Memorandum and Articles of Association as you may be required to upload them online.
You will also be charged a fee which will be confirmed once you commence the registration/application process.
As at the time of this writing, the cost of registration for a new export license is 13,500 Naira. However, if you will like your license sent via courier then an additional fee of 2,500 Naira will be charged.
On completion of your registration, the license is usually ready within 72 hours. However, if there are delays of any sort, it will likely take much longer.
You can also do a verification of your license at any of the NEPC or via their online platform.
The license issued to you by the NEPC gives permission for the exportation of products like cashew nuts, ginger roots, cocoa, charcoal, and others.
Nevertheless, if your interest is in the exportation of solid materials, you will be required to obtain a different license from the Federal Ministry of Solid Minerals Development. In this case, a fresh registration will be required at their office before you can be issued a license.
With this information on your fingertips, you are now a step ahead to initiate the process for obtaining your export license or better yet guiding someone who needs one but is clueless on how to begin.