Brand new information on how to start an import business in nigeria irrespective of your start up capital. I started mini importation around 20 and its been awesome. Market access improved and in september 25, 2008, the government of nigeria released to the public the new 20082012 tariff book, almost two years after the last one expired. Cash foreign capital can be imported into nigeria through domicilliary accounts operated with any of the licensed banks in nigeria and may be repatriated through the same channels importation evidenced by cci issued by the bank. Import documentations in nigeria nigeria trade info center. Please note that importation can also take place on large scale but i will be focusing mainly on small scale because that is my area of interest. Becoming an importer of goods or products in nigeria involves a lot of tasks. Pdf manufacturing sector and import penetration in nigeria. Why i say fastmoving goods is because these items are the most soughtafter products in nigeria. The major findings of this study include the following. Business description of importation business plan in nigeria business. A pdf reader is available from adobe systems incorporated. Importation business is one of the most lucrative businesses you can venture into in nigeria, this is due of the huge turnover which this business promises. Failure to export or destroy the articles in accordance.
How to start importation business in nigeria with only n. Of course, you dont need to travel to china to import goods from the country, and this importing business is not reserved for the nigerias rich only. Now pay attention as i take you on a journey of how to start importation business in nigeria. We import and supply brand new cars as well as used, regular and classic cars to individuals and corporate bodies. Sep 20, 2018 a temporary importation under bond tib is a temporary importation of goods under bond, not imported for sale or sale on approval, without payment of duty with the intent to export or destroy the goods within a certain period of time not to exceed three years from the date of importation. Meantime, acquisitions of agricultural products rose only 1. I started my first business before i was a boy of 15. How to start importation business in nigeria home facebook. Restricted wttprs356 9 may 2017 world trade organization. Since then, ive made china and its culture not only a key part of my business but also of my personal life. Nairaland forum nairaland general business importation from china guide 2967 views az mini importationfrom beginning to the end importation from china to lagos made so easy. Exportation business in nigeria or elsewhere is capital intensive. How to start a successful importation business in nigeria becoming an importer of goods or products in nigeria involves a lot of tasks. Key challenges for solar companies during importation and potential solutions.
Do you think of importing from somewhere to nigeria. Documents in respect of each import transaction shall carry he name of the product. I have decided to share my experiences to show people for free how to. The importers must get ready those documents in order to avoid demurrage at nigeria ports. Have an area of interest and create a market for it. Temporary importation ti concessionary logistics limited. Imported manufactured goods and factors inputs, 19852011 data source.
When you are done doing this, move to the next step. With the increasing demand for cement in nigeria, lord lugard, the governor. There is hardly another business requiring a negligible startup cost that can put you into a six figure bracket so quickly than onlinebased export business. Nigeria commercial guide international trade administration. Funded by understanding natural gas and lng options.
Most successful companies in nigeria strive mainly on importation of. Whatever the reason, there are same laws and principles that must be followed to get things right. Best profitable products to import from china to nigeria. Pdf highlights import bans reduce the amount and increase the price of the controlled goods. Another basic objective of this thesis is to provide conceptual and practical knowledge of import export business along with the possibility of creating new market opportunity for finnish businessmen. Pdf the role of international trade is very significant in a developing country like nigeria. Companies report that high tariffs, nontransparent valuation procedures, frequent policy changes. At the international level, nigeria is networking with the international community to control ewaste, e. Pdf import bans in nigeria increase poverty researchgate. Examples of trade and investment promotion activity in nigeria pwc. Form m is available online in the national trade portal called the single trade window.
The possibilities for exportation is vast, and in a country like nigeria thats rich in mineral resources and agricultural products as mentioned in another article, venturing into the import export business is a great bet for any entrepreneur in any country around the world to take up see also. Nigeria business travel nigeria agriculture nigeria agriculture this is a best prospect industry sector for this country. Autojosh is an authoritative automobile dealer in nigeria. Importing is not just for those lone footloose adventurer types who survive by their wits and the skin of their teeth. How to import goods from china to nigeria wealth result. Best profitable products to import from china to nigeria and. The importation business is a goldmine that most nigerians are yet to take advantage of. Nigeria customs service and all the members of the national toxic waste dump watch committee on the illegal shipment of weee. August 29, 2016 december 3, 2016 onuohaadanma 0 comment business, business ideas, importation.
Nigerians love to start importing goods either for personal or commercial purpose. Imported manufactured goods and factors inputs, 1985 2011 data source. Nigerias list of prohibited or restricted imports is as follows. However, you can overcome this challenge by reading our tutorial on how to get investors for your business or discover powerful secrets in this book about how to get capital finding importers from the country you wish to export your goods to. Academic research in business and social sciences november 20, vol. With its network of 108 offices across the united states and in more than 75 countries, the u. Since i was a 22yearold undergraduate in university, ive run a homebased business importing products from china and generating millions of naira on a yearly basis. Import documentations in nigeria import of physical goods into nigeria must be initiated by import declaration using a document called form m irrespective of whether payment is involved or not. In this article, we will inform you about the most profitable products to import from china to nigeria and rake in millions of naira. Mini importation is one business that is providing for the needs of many unemployed young nigerians today. Therefore, as a beginner who is interested in how to start importation business in nigeria, you must have a functional bank account linked to the internet. The export business planner is a robust pdf portable document format that is. Where there is no direct contract between the nigerian company holding the main contract with.
Nairaland forum nairaland general business importation from china guide 2967 views az mini importation from beginning to the end importation from china to lagos made so easy. The nigeria customs service ncs is currently in the initial stages of procuring scanning equipment which is expected to scan containers in a more accurate and timely manner. But, due to several standard procedures to be undertaken before goods are successfully and lawfully shipped into the country, most people tend to see importation as a difficult endeavour. Importation business plan is a lucrative business that needs a lot of strategic planning to start and a business coach like dayo adetiloye to help you start the implementation. The importation of goods is regulated by custom, excise tariff etc consolidation act no 4 of 1995 which was enacted as custom, excise tariff etc consolidation decree no 4 of 1995. These are portable devices that can be used in lieu of laptops as well as desktop computers ear piece. Apart from the fact that it requires a huge amount of money, there are also some legal process involved. With a few exemptions, valueadded tax vat is applied to the goods and services that enter the nigerian market for free circulation, either by way of imports or local production. Businessplan, author at business plan in nigeria page 3. Importation business is described as a business niche that involves movement of goods or commodities from one country to another. With over 180 million people in the country there is no way starting a mini importation business cant be one of the most successful business opportunities in. The document aims to reduce drilling contractors risk of committing customs violations or delaying rig entry due to improper rig importation. If the nigeria customs service has accepted it, it will register your eform m on its system.
How to start a profitable importation business in nigeria plus hot selling products 2019. List of best import and export agents in nigeria, top import and export agents in nigeria, import and export agents near me, best import and export agents. How to start an importation business in nigeria idonsabi. Are you interested in knowing how to start your own importation business in nigeria.
Today i run my company in lagos and operate in different states of nigeria. Nigeria is currently the 43rd largest export market for u. The main emphasis in the research of this thesis is to create the business plan for a new import export company. It is very crucial to learn the most important documents needed for both air and sea freight. Why we import cheap goods from china igbo traders 1. The harsh economic reality of the day which has resulted in the loss of jobs and unemployment of many young nigerians means that such business if wellhandled is a. How to start a profitable importation business in nigeria. Import and export agents in nigeria list of import and. Make sure you read every word of this post and come back to download my 2 free business books here. I am equally making lots of cash doing this business. Such concession is normally granted for oil rigs, ships, barges and other special equipment of high value in practice usd 100,000 has been considered as a minimum by customs, provided that such equipment is not available for purchaserent in nigeria and will be exported back out.
How to start a successful importation business in nigeria. This document also covers the process to exit rigs from nigeria in a timely and compliant manner. Mini importation as it is popularly called in nigeria is the modern means of importing goods from abroad especially from china to nigeria. These phone accessories are for listening to music and messages privately with high sound quality memory cards. Documentation matters in every international business. Customs and border protection, or cbp, was born as an agency of the department of homeland security, merging functions of the former customs service, immigration and naturalization service, border patrol, and animal and plant health inspection service. This page provides nigeria imports actual values, historical data, forecast, chart, statistics, economic calendar and news. Temporary importation under bond duty free entry of goods. This sample importation business plan in nigeria can be used for grant applications, bank loans, proposal writing, business concept note, competitions etc. How to start importation business in nigeria with only n,5000. Alaba boys, ikeja guys, konga and jumia are all into the game.
The import business is one of the most profitable businesses in nigeria to invest in. Starting from a little or no capital, an export broker could earn large finders fee with absolutely unlimited income. Discover over 50 hot and best selling products you can import and make profits in nigeria. Apart from domiciliary account, some banks such as zenith bank and gtbank do give mastercard. May 25, 2017 processing by the nigeria customs service. Export business planner small business administration. The comptroller sends the file to the bond value department for. The justification for such policies is usually that. Temporary importation ti the nigeria customs service may provide the concession to import on a temporary basis. Follow these steps to start importation business in nigeria 1. How to start an importation business in nigeria with only n.
Any person intending to import physical goods into nigeria shall in the first instance process. The shipment company issues the shipping manifest sm and sends a copy to the. How to start an importation business in nigeria with only. This import business article is different from the mini importation business report being paraded on the internet by every dick, tom and harry. Apr 02, 2018 please note that importation can also take place on large scale but i will be focusing mainly on small scale because that is my area of interest. But i will share with you just ten popular, fastmoving goods that you can import into nigeria within your budget. Temporary importation under bond duty free entry of. Nigeria business travel nigeria import requirements and documentation nigeria import requirements includes import documentation and other requirements for both the u. Marketing company limited, and took control of the cement importation business in west africa. Department of commerce utilizes its global presence and international marketing expertise to help u.
Mini importation business in n igeria is the most lucrative business for any startup individual. The development of nigeria s bitumen poses two important questions for resource governance 1 is it truly in the best future interests of nigeria to exploit bitumen. Capital importation investment capital can be in cash or kind i. The tariff which is a schedule to the act is a massive document.
Businessplan, author at business plan in nigeria page 3 of 11. Dear friend, youre welcome to the africa business classroom abc. An analysis of nigerias food import structure and bills throws light on the trend in the importation of food in the period that marks about a decade before the current political dispensation to. Here is how to start a profitable and lucrative importexport business in nigeria in 5 simple steps without any connection or an import licence. As an intended importer there must be an area of business that interests you. A guide for commercial importers a notice to our readers on march 1, 2003, u.
More information on nigerias destination inspection policy. Importation business is obviously one of the most lucrative business in the world. I have decided to share my experiences to show people for free how to make money importing goods from china to nigeria. A temporary importation under bond tib is a temporary importation of goods under bond, not imported for sale or sale on approval, without payment of duty with the intent to export or destroy the goods within a certain period of time not to exceed three years from the date of importation. How to start an importation business in nigeria august 29, 2016 december 3, 2016 onuohaadanma 0 comment business, business ideas, importation importation business is one of the most lucrative businesses you can venture into in nigeria, this is due of the huge turnover which this business promises. Jun 06, 2019 are you ready to start a profitable mini importation business in nigeria and make massive profit irrespective of your start up capital, this feasibility study mini importation business plan in nigeria pdf will give you all the hidden importations of mini importation and secrets to starting a profitable mini importation business in nigeria with limited capital read more. Importation business is a very lucrative business and it has the ability to make you very rich quickly. Are you ready to start a profitable mini importation business in nigeria and make massive profit irrespective of your start up capital, this feasibility study mini importation business plan in nigeria pdf will give you all the hidden importations of mini importation and secrets to starting a profitable mini importation business in nigeria with limited capital read more. Apr 24, 2016 dear friend, youre welcome to the africa business classroom abc. Within one business day, it will either accept or reject your eform m. Either you are a student, civil servant, employ, selfemployed or nonemployed, mini importation is still a business anyone in nigeria can venture into and end a living with parttime or lucrative income. Apart from the fact that it requires a huge amount of money, there are also some legal process involved nigeria is an import dependent country and depends widely on importation of some certain goods to fill up the daily needs of its population. Importation services patiladwonder importation service company is a network of strong and strategically positioned importation logistics company with focus on importing wide array of highly demanded goods to nigeria.
Import guidelines, procedures and documentation requirements. Nigeria is a blessed country with so much mouth watering natural wealth forging resources in the world. May be for resale, consumption or for manufacturing. Business visa obtainable at nigerian missions, except for special cases where visa is issued on arrival in nigeria see voa business visa is available to citizens of all countries except ecowas nationals who do not require visa to visit nigeria and other countries which nigeria has entered into visa abolition agreements. Nigeria aborted its preshipment inspection policy in favor of a destination inspection policy for imports. The nigeria trade hub serves as an information portal for traders. In addition, the authorised dealer citibank shall issue a certific ate of capital importation cci to the investor within 24 hours of the receipt of the ca pital.729 622 797 290 601 39 791 299 256 926 770 1344 955 1410 208 836 475 650 435 1161 1176 1192 395 549 1252 906 119 513 104 738 558 1414 1273 133