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|Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 4:35am On Mar 25|
Dear prospective Exporters and value chain players in Nigeria, let's highlight the opportunities, guides and challenges in Agricultural Export business. What are the processes, documentations and opportunities it presents and how can technology improve agro Export business? How can you trade internationally and earn foreign exchange without hiccups? How can you tap from the CBN and FG intervention and empowerment programs to support the non oil export sector? What are other incentives available international to enable free export trade? How can you meet or exceed commodity quality standards for our agro products? Insightful knowledge and right information is key to success in Agro Export trade.
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|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 4:55am On Mar 25|
Relax and let's educate comprehensively on Agro export business in Nigeria.
Before starting your export venture, it's necessary to register your business preferably a limited liability and with its certificate, proceed to Nigeria Export Promotion Council (NEPC) to register and obtain your Export certificate.
When you want to export from Nigeria you are obliged to register at NEPC. You can only register as an exporter via the e-registration platform. This page presents all the information you need to know about obtaining an Exporter’s Certificate from NEPC.
Besides the fact that you need an exporters certificate for exports, registering at NEPC gives you a lot of additional advantages:
You have the availability to trade promotion support services from NEPC
You are able to request NEPC administered (pre- and post-)export incentives
You can register for numerous trainings, clinics, seminars, and more
You can collaborate and exchange ideas through a network of exporters
Guidelines & Procedures
Before you can proceed and register as an exporter you have to take some preparations. There are documents required for completing the full registration process. The required documents depend on your type of company:
When you have all the documents at hand you can start the registration procedure on the e-registration portal (link at bottom of page). Register at the portal, log in and start the e-registration for exporters. Include all requested documents in your registration.
Fees & charges
Obtaining an exporters certificate involves some costs. Different charges apply for different situations:
New certificate registration – N13,500
Expired certificate renewal – N7,500
Late certificate renewal – N12,500
Lost / mutilated certificate – N12,500
Note: The E-registration platform was launched on the 3rd of April, 2017 and only companies registered after this date will be eligible for renewals. All companies registered before this date with expired certificates will need to migrate to the new platform by registering afresh for a new certificate.
After you filled out all the requested information you have to pay for your registration. There are several payment methods available, including:
Nigerian local cards
International credit / debit cards
Commercial bank branch in Nigeria
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 5:05am On Mar 25|
Understanding the Market
In order to develop your export business into a success, you should make sure that you understand your target market(s). This means you have to do some research about your export destination(s). It allows you to access market opportunities and the cost of capturing them.
Good market research should not be an academic way of only embedding assembled facts and figures. It rather has to focus on what drives your target market(s) and how to get the best out of it.
Top tips to understand the market
Gather basic market information, from import regulations to trade statistics. You can make use of several freely available Market Analysis tools.
Narrow the focus of your research to your product or service. This will make the whole process more specific.
Research competitor markets.
Find out what they are doing right and how they are doing it.
Attend market-specific seminars.
Seek out practical advice for experienced businessmen.
Develop direct contacts with potential buyers.
You can make use of several freely available online directories.
Try to understand the market environment.
Relevant trade fairs and embassies are good sources of information.
The first step of market research includes gathering basic information, ranging from import regulations to trade statistics. You should include several areas in the first phase of your market research. The most important aspects are:
Trade statistics and trends
Product specific market research
After you have gathered and analysed basic information, you should narrow down the research to your specific product or service. This also involves presenting your product or service to buyers overseas. Gather feedback on your offer by sending data or samples to buyers. Also pay attention to analysing the competitors of your target market(s) in this stage.
International buyer directories
You want to send out your product samples to get feedback from buyers. But how can you then find your buyers? Fortunately there are plenty of international buyer directories available (some free of charge, others with paid subscriptions).
While it will take some time, good market research gives you several great advantages in your further export process. The main benefits for you:
It helps you to identify your most promising market
It will include rich inputs for your export plan
It will give you full understanding of the competitive landscape of your target market
It will support you in minimising risks and maximising prospects.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 5:12am On Mar 25|
Export Documents and Procedures
To export from Nigeria you should follow the appropriate export procedure. This is a formal process in conducting international trade in Nigeria. Certain export documents are attached to this procedure. Export documentation is necessary to facilitate exports of goods and services.
Importance and advantages
Following the structured export procedure will give you a better understanding of the full export process. Hence, your company will benefit from the right and up-to-date knowledge you receive by following the right procedure. Besides, it leads to:
Minimising your export risks ensuring that exported goods conform to importing country specifications.
Meeting buyer requirements for export by providing evidence of origin and delivery.
Supporting you to formalise your export business
Supporting you in qualifying for export incentives
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 5:20am On Mar 25|
After you have researched your market opportunities, selected your target market(s) and gathered information with respect to these market(s) it is time to develop an export plan.
Five export plan tips
Keep your plan simple and to the point
Always include your unique value proposition. Describe what differentiates you from your competitors
Always develop a very concrete budget plan
Keep your target market in mind when defining your export plan
A good export plan guides you seamlessly through different export processes. It helps hugely when you are in touch with (financial) advisers, brokers and governmental bodies
A well-written export plan will assist you in defining export goals and match your resources to those goals. Focusing your resources allows you to provide excellent service delivery to your clients (importers). It makes your company stand out, projecting it as one that has realistic goals with outlined plans on how to achieve them. Last but not least, it will guide management on long-term commitment for exports.
A good export plan consists of certain key elements. NEPC developed a guideline on export plan development for exporters. This includes the following key topics:
Company profile (about us)
Key features of target market(s)
Market entry strategy
Unique selling points
Branding (if relevant)
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 9:16am On Mar 25|
A feasibility study examines the practicability of a proposal, business venture or idea. The principal function of this is to determine if the project will continue or not. Another important purpose is that it helps planners focus on the project and narrow down the possibilities.
Nigeria is a country naturally blessed and endowed with item of huge demand in the export markets around the world. We are not only blessed with solid minerals (besides crude oil) we are also blessed with good climate and weather conditions to support the growth of commodities that are industrially useful in the developed nations. Majority of our agro products are exportable and are easily available to source. We can support you to start your agro export venture today.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 3:05pm On Mar 26|
What is the business potential of agro-export trade? With cashew nut and in specific, the kernel in introspects, cashew kernel export is a promising market. According to recent statistics from NEPC, Germany, Netherlands, United Kingdom, Poland, France, Japan, United Arab Emirates, Canada, Lithuania and Ireland are the top ten markets with the largest untapped potential for Nigeria cashew kernel export. Vietnam is currently the largest export destination for Nigeria cashew kernels with average yearly exports of 3.4milliona dollars. It is also Nigeria’s largest competitor on a global scale. Poland is a small market for Nigeria but France is a new market.
For ginger, untapped markets exist in Netherland, United Kingdom, Pakistan, Japan, Bangladesh, Canada, Malaysia, Germany, UAE and Italy. Estimated untapped potential is largest in the Dutch market with 4.5 million dollars of additional export to be reached up till 2021. The Netherland and UK are very interesting. There is a lot of additional export potential there. Try to access new markets like Pakistan, Japan and Bangladesh. Also, keep trying to expand export in Germany and the UAE.
Sesame seeds also offer promising markets with Asian countries leading the pack. China, Japan, Korea Republic, Mexico, Poland, France, Lebanon, USA, Canada, and the United Kingdom are the real markets. A real market is a positive market with China, the largest estimated untapped potential for Nigeria with over 110 million dollars in value. Sesame seed exports from Nigeria offers plenty of room for growth with over 170 million dollars untapped potential for the ten interesting destinations. Finally, try to increase focus on emerging markets of South Korea, Mexico and Poland.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 2:00pm On Mar 27|
Logistics & Freight
If you want to export, make sure you understand the basic terms of shipping (including pricing and documentation). You must also understand the responsibilities of the major players for safe delivery of your products to buyers. Details such as duration of shipment, types of transport modes, conditions required for different products and the agreed terms for the export must be well understood.
Understand the importance of freight forwarding for a seamless export process
Know the available range of logistics options
Conduct due diligence in engaging a freight forwarder
Know how to apply INCOTERMS (2010) in order to quote your price for delivery correctly
Familiarise yourself with export documents and documentation process for logistics
Freight forwarders & custom brokers
It is extremely important that you identify experienced custom brokers and freight forwarders. This would ensure that your products get to the buyer via the most appropriate conditions, costs and routes. Familiarise yourself with different transport modes required to deliver the goods to the buyer.
In order to be well prepared please:
conduct research on at least three freight forwarders / custom brokers
visit the online database of freight forwarders, custom brokers and cargo agents in Nigeria
INCOTERMS is an acronym for International Commercial Terms. These are internationally recognised terms in international transactions. It provides details on the responsibilities of buyers and exporters. The terms are important for the processing of shipping and payment documents during exports. Basically, INCOTERMS defines all obligations of buyers and sellers within the logistics chain.
After delivering the specified product to your buyer, you should make sure you will receive the payment. Take into account the following tips with respect to getting paid:
Familiarise yourself with the different modes of payments
Letter of Credit (LC) is a more secured mode of payment
To receive payment all delivery conditions mentioned on the LC must be satisfied
Be sure that you can adhere to all the requirements and requested documents listed in the LC
Discuss suitability of different options with your bankers / financial advisers
Always undertake due diligence on your buyers before exporting!
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 4:14pm On Mar 28|
To become a successful export venture you need to have the right knowledge about export pricing methods. This always includes all items meant for costing and the way your products are provided. As (prospective or performing) exporter, always ensure basic knowledge regarding all activities constituting export pricing.
Top tips for export pricing
Ensure your prices are competitive
Ensure all export-related and -associated costs are covered
Know your break-even points
Set realistic profit margins
Know the INCOTERMS for pricing purposes
Try to negotiate best rates from service providers
Keep abreast of exchange rates
Review all of your cost elements periodically
Include appropriate currencies and HS code(s)
Include minimum order quantities
Be very clear about the obligations for seller and buyer. This includes spelling out where ownership is transferred between you as exporter and the importing party. Basically, knowing the INCOTERMS in detail is indispensable. Check our detailed explanation about INCOTERMS on the logistics & freights page.
Cost categories for export pricing
Make sure to cover all export costs when setting your export pricing. These include local export costs, international export costs and other associated export costs.
The most common methods for price calculation are the ‘cost plus’- and ‘top down’-method. In order to achieve best results in setting your export price we recommend to use both methods together. This means that you calculate:
Outwards your ex-factory price to the end consumer (cost plus)
From the ideal end consumer price backwards (top down)
As both methods have is strengths and weaknesses, you should calculate both and combine these to find the optimum export pricing balance. Please note that this could be different per export destination!
Roles of NEPC
We offer numerous services to Nigerian exporters with respect to export pricing. To summarise we:
Provide regular capacity building programmes on costing and pricing for export
Offers tailor-made assistance to exporters (office, online media, etc.)
Provide top-down export market information (international commodity price)
Provide bottom-up export market information (local commodity market report)
Provide end-market information to exporter to aid export pricing
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 11:47am On Mar 29|
Local Export Cost
All local export costs you should take into account are:
Packaging and labelling
Product liability insurance or other insurances
Cost of funds
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 6:05pm On Mar 29|
As an exporter you have to make sure you get your export financing right. Keep in mind that you must be able to fund your export contract, make sure you get paid, and more.
Five tips for financing
Seek help from bankers, financial and export experts
Explore available government grants and loans
Know the grants and loans available from local government areas and private parties
Factoring is a funding facility to consider for increasing your cash flow
Protect your export proceeds against non-payment risk through Export Credit Insurance
Export business requires sustainable funding over a period of time. The amount of money needed for export is largely dependent on your product and export destination(s). It includes components like marketing and market access, as well as (direct and indirect) working capital.
Marketing & market entry costs
Your export budget should cover all costs of marketing your products or services abroad, including the costs of market entry. The product components, requirements of the target market segment and different engagement / publicity needed to draw attention form the basis for marketing and market entry cost.
Specific costs involve:
Hire dedicated staff member(s) for the export business
Regular visits to your targeted export destination(s)
Provision of samples to bring to target market
Working capital costs
Additional working capital costs are always involved during the export process. This means the amount of money needed to be available to effectively run your business. In practice, payment for the contract is received mostly after delivering all of the goods / service. Thus keep in mind you have to make additional direct costs like: raw material purchases, packaging, transportation, laboratory services, certification(s). Extra indirect costs should also be taken into account: overheads, personnel, plants and equipment, building.
There are different payment methods possible between you and your buyers. The main options are:
Documentary credit (e.g. Letter of Credit)
Open account (e.g. advanced payment, cash against document, deferred payment)
It is advised to always check and discuss your options for payment with a financial adviser. This ensures you to have the right agreements on payment in your eventual export contract.
There are numerous funding options available to help you in funding your export costs:
Governmental export incentives
Loanings (commercial banks / family and friends)
Support of financial institutions
One of these include governmental export incentives. Nigerian exporters could get access to multiple different incentives. NEPC is administrating two of these incentives: Export Development Fund and Export Expansion Grant. Find out all about these incentives including guidelines & procedures, service timelines, fees & charges and other requirements in the export incentives pages.
Factoring might be an attractive way to help your cash flow. Factoring is a financial transaction where the receivables (such as the invoice) is given to a third party, called a factor for a fee.
Other ways of funding include loaning of friends and family and a wide range of loaning options at commercial banks. If you want to request loaning at commercial banks you would have to write a bankable proposal.
When writing a bankable proposal take into account the following steps:
Familiarise yourself with the responsibilities of each financial organization
Prepare funding request based on their priorities
Get a copy of their template and use it to develop your proposal
Formally submit your proposal
Financial institutions offer a lot of interesting funding options and are therefore a very important source of export financing. Find the main institutions for financial support to maximise and expand your export potential below.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 11:52am On Mar 30|
Nigerian Export Import Bank
The Nigerian Export Import (NEXIM) bank offers a wide range of funding options for your export business. Among these:
Direct Lending Facility (DLF)
Export Credit Insurance Facility
Stocking Facility (for manufacturing exporters)
ECOWAS Interstate Road Transit Scheme
Foreign Input Facility (for manufacturing exporters)
Local Input Facility
Central Bank of Nigeria
In addition to the NEPC administered export incentives, the CBN offers two interesting incentives as well:
Export Stimulation Fund (access through your bank)
Rediscounting Refinancing Facility (access through NEXIM)
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 9:06pm On Mar 30|
When you export it is important to be aware of legal requirements of exports in Nigeria. This is to serve as a guide when planning for export as well as enhance smooth export transactions.
Five tips for exporters
It is wise to engage an experienced trade lawyer or expert in complex situations
Understand the market access conditions for your products
Protect your intellectual property (IP) rights, if you have one
Avoid trading on sanctioned / prohibited products
Check out information on frauds, scams and corrupt practices regularly
An export contract is the agreement between an international buyer and seller.The exporter should be aware and attentive to details of the export contract documents agreed by both parties. International contracts can be complex. It is advised that you ask for advice on the legal implications by a professional.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 2:08pm On Mar 31|
Why buy from Nigeria
There are very good reasons to source your products from Nigeria. Our country has well developed export logistics, diverse and consistent production, international standard quality assurance. In addition we are an award-winning export country!
1. Award-winning sourcing country
We are developing and expanding fast in our product offer for international markets. Our trade performance is constantly increasing and improving through several projects. Investments in local capacity building enhances sustainable and high-quality Nigerian exports.
The Nigerian Export Promotion Council (NEPC) were the winners of the World Trade Promotion Organization (WTPO) Award 2018 (International Trade Centre, ITC): “Best initiative to ensure that trade is inclusive and sustainable”.
2. Quality is assured
There are three Nigerian competent authorities that ensures quality assurance:
NAQS (Nigeria Agricultural Quarantine Services) – issues the phyto-sanitary certificate for export after inspection for agricultural commodities
NAFDAC (National Agency for Food and Drug Administration and Control) – issues health certificate (sanitary) for export of processed and semi-processed food items
DVPCS (Department of Veterinary and Pest Control Services) – issues the international veterinary export document for products of animal and animal origin.
These authorities together ensure that products exported from Nigeria adhere to international standards. Besides the availability of these quality competent authorities, UNIDO has supported developments of quality products through the creation and implemention of:
National accreditation system
Training institutes for quality assurance
An integrated export control plan (food safety standards, documentation, …)
Above all, the Nigerian environment guarantees an international recognised quality standard and it is only improving!
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 6:36pm On Apr 01|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 7:17pm On Apr 02|
3. Diverse and Consistent Production
Nigeria’s large geographical size translates to a diverse range of climates across the country. These diverse agro ecological zones provide conducive conditions for the production of a wide variety of agricultural products in the country, while also ensuring consistent supply.
4. Well developed export logistics
Nigeria is amongst the top African countries in sea freight and cargo handling. Apapa port is the largest in West Africa. Tin Can port was among the top 5 largest ports of West Africa in 2017 as well, based on total cargo volume. Total cargo throughput at Nigerian ports reached over 70,000 kilotons in 2017, according to the Nigerian Bureau of Statistics (NBS).
Also other ports like Onne, Rivers, Calabar and Delta handle significant cargo volumes on an annual basis. The availability of several ports combined with government’s commitment to having dedicated terminals for agricultural products makes exports seamless. All major shipping companies are present at our ports.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 3:52pm On Apr 05|
Nigeria Business Culture
Nigeria, with over 180 million inhabitants is the most populous African country and 8th largest in the world. It has the strongest economy in Africa. The country operates a democratic government which has remained uninterrupted in the last 20 years. As a founding member of several economic blocs and international organizations, Nigeria is therefore a regional power house.
Do’s and Don’ts
A hand shake is the acceptable form of greeting. However, you may find people bowing to their superiors and the elderly as a sign of respect. Do not be surprised when a Nigerian exporter takes a bow during the greeting.
Greetings should always include some interest in your acquaintances, family and health. A common conversation opener: “how was your night”? It is just a polite sign of interest in your well being.
You may be treated to the Nigerian hospitality with your host paying the bill. Do not feel uncomfortable, but remember to appreciate the gesture.
The left hand rules apply here. Do not take or give anything with the left hand, because it might be perceived as disrespectful.
In timing, Nigerians are flexible due to its peculiar environment. Stay relaxed, be prepared and do not feel frustrated if appointments are delayed.
Complimentary remarks are appreciated, but be cautious and moderate.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 4:52pm On Apr 06|
Italy and Spain are the largest destinations of Nigerian leather in total, covering over 71% of total Nigerian exports. This mainly consists of goat leather, while sheep and lamb leather reached larger export values in Asian countries.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 11:04am On Apr 07|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 12:26pm On Apr 08|
Do you know, out of the 800,000 tonnes of shea nuts produced in Nigeria, only 20,000 tonnes is processed into butter, while the rest is exported to neighboring West African countries.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 6:09pm On Apr 08|
The federal government on Monday launched the Export Expansion Facility Programme, an online grant portal, and flagged off the Export Development Fund.
The EEFP aims to protect export businesses from the effects of the COVID-19 pandemic, safeguard jobs and de-risk the economy from shocks like COVID in the non-oil sector.
According to the Minister of Industry, Trade, and Investment, Niyi Adebayo, who was at the event, the goal of the expanded facility is to increase Nigeria’s export capacity in the near term and its export volumes in the medium term.
“It will also provide economic incentives to ease the economic effect of the COVID-19 on players in the export sector, fast track the zero oil plan to create jobs, and further expand other avenues to earn foreign exchange in Nigeria other than crude oil. Essentially, the EEEP will save jobs & create jobs,” he said.
He said the EEFP triggered the launch of the Export Development Fund which will mostly support Medium, Small& Micro Enterprises (MSMEs) who operate as players in the export sector.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 3:08pm On Apr 09|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 6:22pm On Apr 09|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 9:48am On Apr 10|
Is Export business profitable?
It is a good idea, the world is more open than ever before, trading or export business is booming. Small export business can be very lucrative if you are executing a great export business idea. Each of this could be your starting point for your own export business.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 7:59pm On Apr 10|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 12:14pm On Apr 11|
Export Support Programmes
COMMON FACILITY CENTRE (CFC) FOR LEATHER & LEATHER PRODUCTS, ABA, ABIA STATE
NEPC established a Common Facility Centre in Aba to ensure that made in Nigeria leather and leather products meet international standards. The project is a joint programme of NEPC and United Nations Industrial Development Organisation (UNIDO), Federal Ministry of Trade and Investment (FMITI) and the Abia State Government.
Skills acquisition on leather and garment enterprise
Provides modern technology to enhance competitiveness
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 10:17am On Apr 12|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 9:33pm On Apr 12|
SUPPORT FOR WOMEN IN EXPORTS
NEPC provides support to women in export.
The Council has supported over 2000 women
all NEPC Regional/State offices have a desk officer for women in export support
ITC and UKAid offer technical assistance in collaboration with NEPC to build capacity for Nigerian women exporters
The targeted estimate of 100,000 Nigerian women entrepreneurs into SheTrades initiative (ITC)
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 12:30pm On Apr 13|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 10:58am On Apr 15|
Melon as an Exportable Commodity
Melon Seeds (Egusi) has many uses; in addition, it has lots of nutritional values such as low calories, magnesium and protein. For this reason, melon seeds are high demand all over the world.
Despite the fact that Nigeria farmers face different obstacles; such as lack of finance, poor agricultural infrastructure and others, Nigeria is still ranked as one of the global leading country for melon exportation in the world. As a matter fact, melons remain top Export Products in the country.
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 3:19pm On Apr 16|
|Re: Guide And Opportunities In Agro Export Business In Nigeria by Ltrust1(m): 8:17pm On Apr 17|
Doussie square logs
FOB or CIF
Export to Haiphong port, Vietnam
DP/TT (within 1-2 working days)
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