Exportation is the bedrock of a country’s revenue. With little or no exportation, a country is up for incurring more debts, especially when the ratio of imports is much greater. This means that the importance of exportation cannot be overlooked. Wondering what exportation is? It is the movement of commodities from one country to another, in exchange for payment.
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Over the years, Nigeria has been known as an importation freak. But isn’t it high time we turned the table around? One of the major commodities for export in Nigeria is agricultural products. Nigeria’s soil is rich and produces numerous cash crops like cocoa and oil palm, which are capable of enriching the country in monetary value. A report from the National Bureau of Statistics (NBS) has shown that agricultural export rose to N152.3 billion in the first 6 months of 2019. This spells hope for us; for you.
So, if you are thinking of venturing into agriculture, or are already active in it, there is a great possibility of exporting your products too and adding up to the numbers.
In this article, I will outline the steps you need to pass through to export your agricultural products. Let’s begin!
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At the base of your success in this venture is research. Perform your due diligence by researching the export market.
Find out the available export products. The knowledge you have of the export and international market will go a long way to helping you take calculated steps. Make contacts with foreign buyers and shipping companies. Determine the crops you will export and the logistics involved. All these will be based on proper research you will carry out on the market. In all you do, ensure you don’t get into it blindly.
If you haven’t registered your company before now, you will need to do that. In Nigeria, the recognized body for company registration is the Corporate Affairs Commission (CAC). You will also need to register with the Nigerian Export Promotion Council (NEPC) to obtain your export certificate.
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These registrations are necessary since you will be partnering with different foreigners. You wouldn’t want to be regarded as one that is doing shady business. So, you need to have your documentation handy.
Once the above points are settled, you can start shipping your goods. Inspecting authorities like customs will want to scrutinize you in this process. But as long as you have your paperwork in place, it will not be difficult for you. Just like you will have to investigate and follow the regulations for the registration of your business, you will be required to follow through with the custom and shipping regulations.
There will be taxes and duties to pay. Find out what they are, your part of the payment and that of the receiver of your products. You will then choose a shipping company. This will be determined based on the kind of products you are exporting – perishable or non-perishable goods.
Exporting your agricultural products shouldn’t be a herculean task. Once you have done your proper research and made your necessary documentation, you are good to go.
Featured Image Source: Global Financial Digest
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This article was first published on 6th June 2022