Setting foot into Nigeria's export/import market can be quite challenging, especially for beginners. There are certain regulations and rules you must be aware of to avoid future conflicts. Here are some tips to guide you:

Know the Market

The Nigerian market and trade industry mainly depends on importation, which means manufacturers must develop a deep understanding of the market dynamics, rising demands, and customer demographics. They should also seek expert advice to ensure they are properly following all regulations.

Be Aware of Trade Laws and Policies

In 2019, Nigeria decided to close its border because ECOWAS member states were negating the country's trade laws. Thus, manufacturers need to be aware of all regional, domestic, and international trade laws to avoid similar situations.

It is critical to know that Nigeria has stringent restrictive policies on certain imports and exports. Therefore, businesses interested in the Nigerian market must know which items or products are prohibited by the government. Moreover, in 2016, the Central Bank of Nigeria (CBN) imposed foreign exchange (forex) restrictions on 41 items and has even extended this list to include corn and maize last July.

Know the Regulatory Agencies in Charge of Export/Import Activities

Government agencies like Standards Organisation of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC), the Nigeria Customs Service (NCS), Nigerian Shippers Council (NSC), Nigerian Ports Authority (NPA), Corporate Affairs Commission (CAC), and more are in charge of regulating trade in Nigeria. Thus, to access the import/export market, companies must know each of the agency's functions and make sure they are following all the guidelines.

Bureaucratic and Technical Issues

Companies must also know the bureaucratic, technical, and infrastructure issues that can make or break their businesses. There is a NAFDAC 90-day turnaround for product registration, which may take longer because of bureaucratic bottlenecks. You may need to obtain a SONCAP Certificate (SC) as well, which is a mandatory document used by the Nigerian Customs Services for clearance of goods traveling to Nigeria.

You will need to find a shipping company that will bring in your products as well. Obtain a customs manifest or bill of lading from the NPA or private terminals and make a payment for import or excise duties and customs clearance.

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