pals,pls importing of any sort or exporting ,which is more profitable and also which one is more easier to start?

Taking a long guess, I'll say Importing, because it's easier to import goods than to export goods out of this country. The reason is because Nigeria is very porous and every Good is a welcome idea to prospective consumers amongst us, and so you will make more money importing than exporting. Exporting will do us more good than importing, but the issue is what do you have that is exportable?

@blogexp,i think nigeria has somethings to export.things like agro/food stuffs like honey,bitterkola,charcoal,ginger,etc. Okay,what and what items can one import that sells very fast in nigeria here and what's the capital involvement?

look, i say it all depends on your market. If you can export something like say Honey to a place where you have very little competition, you'll make a killing. Also if you import something with little competition, you'll also make a killing.

Figure out the product you want to deal with first, then decide whether you are going to import or export.

Exporting depends on from and to tho

exportation is more profitable because by that u earn forex while u get to spend forex in imports.

It is a lucrative bizness nw owing to d growing demand of nigerian products e.g. Agro allied,solid minerals,finished goods like milo,bournvita for west african markets.

I will enjoin u to go for exports, its d way forward

op
be more specific

Exporting is more profitable because that will increase the valuation of Naira. If only the government will spend wisely on the manufacturing sector and increase productivity. This will thereby attract foreign investors to business in Nigeria. I bet u it will definately create a positive result in our economy.

Don't even think of exporting at all because the conditions you have to meet to be able to export from Nigeria is almost impossible.
I tried to export some locally manufactured goods to Africa but it was impossible,part of the requirement was that I must get a letter from the manufacturer stating that he is authorising me to export the products.This is just one of the numerous conditions,it's very sad because Nigeria industries should have been able to expand their capacities through exports to other African Countries

chyket:

Don't even think of exporting at all because the conditions you have to meet to be able to export from Nigeria is almost impossible.
I tried to export some locally manufactured goods to Africa but it was impossible,part of the requirement was that I must get a letter from the manufacturer stating that he is authorising me to export the products.This is just one of the numerous conditions,it's very sad because Nigeria industries should have been able to expand their capacities through exports to other African Countries

so why didnt you just meet the manufacturer and get the letter?

Good tread,please we need more educating contribution from experience people.Thanks

walcolm:

so why didnt you just meet the manufacturer and get the letter?

I was wondering the same thing.

pls fellow forumites,i need more contributions plssssss.lets keep this thread alive

It either way. Try to scrutinize the nigeria Customs service ( federal government gazette which shows all prohibeted items on it and items that are not prohibited. To reall make moneyb name is better u import a machinery which can have a multiplier effect in the economy. Machinery attracts 5% duty and 0% on VAT meaning . Initially , it was 0% duty on machinery. Next year tarrif could be beneficial for us all because the one in use now is 2008-2012 , so a new comes out next year depending on motions in the house to banned certain products. When certain good are banned u profit from it by producing locally. This could be achieved thru a vigorous research and travels. For further info conatct jOBASKY VENTURE , 07042357890,08082915084

For me what stops you from doing both if you can? There are people I know who import electrical items,phone accessories from china and also export solid minerals to asia -Honkong in particular. At a point, d elder brother went to stay in china permanently to coordinate d biz. They have bought a factory in amuwo odofin where they store and label d products in their brand name. My attempt to learn from them has been difficult. But it is do-able especially if you have someone reliable at d other end

Exporting is better for the economy and can make you more money because people will buy it bulk. But it also depends on the infrastructure. The more forex we get, the better.

A multi-national finance house is ready to assist willing exporters and manufacturers, Speak to us at mkmyers45@fwdeverglobal.com

Read more about exporting @ http://exportfromnigeria.proboards.com/index.cgi

I tend to agree with lagcity's response here. It depends on the market. Evaluating a business should be based on the expected return on investment, payout, operating margin etc. These are the indicators you need to consider. It is not whether u import or export but what you get in return for your investment. Those indicators depend on the cost of the product, the price, the sales, time and risk. So think market, think margin. Cheers

As things stand now it seems the economy favours importation more than exportation but that depends anyway on what your are dealing in.

I think there are great potentials both ways but Nigeria is a consumer based economy plus the harsh economic environment makes it hard to really do business locally and then export to other countries.

The good thing about exporting is that most of the materials are easy to source and are available almost everywhere like charcoal.The good thing about importing is that our population makes a very good market for almost all goods.It all boils down to what you want to do and the financial outlay.Starting an export will require less finances than import but still you can make money from both

Put your money where your mouth is,

Importation may be your best bet for a start, when your startup health check have been guaranteed you can expand into exportation but from xperience you are better-off with importation.

I may sound somewhat pessimistic but you can never be too careful.

considering how you raised your money, will you want to loose it cheap with pain?

A word is enough for the wise.

All the best.

See: http://exportfromnigeria.proboards.com/index.cgi