How to Start Import and Export Business in Nigeria | Full Guide 2025

 
How to Start Import and Export Business in Nigeria | Full Guide 2025

One of the most lucrative business endeavors for entrepreneurs hoping to capitalize on Nigeria's growing trade market is the import and export industry. Opportunities for importers and exporters abound in Nigeria, the largest economy in Africa, which is also home to a sizable customer base and abundant natural resources.

Understanding the procedures, prerequisites, and tactics is essential for success whether you intend to export agricultural items like cocoa, sesame seeds, and palm oil or import things like electronics, automobiles, and machinery.

The legal requirements, registration, market research, funding, logistics, and growth plans will all be covered in this comprehensive book that will help you launch an import and export company in Nigeria.

Why Start an Import and Export Business in Nigeria?

 How to Start Import and Export Business in Nigeria | Full Guide 2025

It is appealing to launch an import and export company in Nigeria for several reasons:

Large Market Size: The demand for imported goods is enormous due to the population of over 200 million.

Plenty of Resources: Nigeria has a wealth of export-ready mineral and agricultural resources.

Trade Agreements: Nigeria has access to bigger markets thanks to its participation in regional and global trade agreements like the ECOWAS and AfCFTA.

Profit Potential: Purchasing items at reduced prices from other nations and reselling them locally or internationally might result in large profit margins.

Types of Import and Export Businesses in Nigeria

 How to Start Import and Export Business in Nigeria | Full Guide 2025

1. Import Business

Mobile phones and electronics

Vehicles and replacement parts

Clothes and fashion

Industrial machinery

Health & beauty products

2. Export Business

Products from agriculture (cocoa, cashew nuts, ginger, sesame seeds, and palm oil)

Solid minerals (zinc, lead, and limestone)

Leather items and textiles

Foods and drinks that have been processed

Step-by-Step Guide on How to Start Import and Export Business in Nigeria

Conduct Market Research

Researching what Nigerians are purchasing that is not produced locally is important for imports, and researching what foreign markets require that Nigeria produces in large quantities for exports is essential for exports. 

Some tips for conducting market research include examining trade reports from the Nigerian Export Promotion Council (NEPC), monitoring import/export data from the Nigerian Customs Service, and scrutinizing the pricing and supply chains of competitors.

Choose Your Niche

Instead of attempting to trade every commodity at once, concentrate on low-risk, high-demand items; stay away from products with stringent import prohibitions (refer to the Central Bank of Nigeria's import restriction list); and, when exporting, aim for goods with little competition but strong demand abroad.

Register Your Business

Choosing a business name and registering as a Limited Liability Company or Business Name with the Corporate Affairs Commission (CAC) will give your company legal credibility. Obtain an Exporter's Certificate by registering with the Nigerian Export Promotion Council (NEPC) for Exporters. Obtain a Tax Identification Number (TIN), which is necessary for all trade transactions.

Open a Corporate Bank Account

Access to trade finance, international payments, and currency conversion for overseas transactions will all require a corporate account.

Get Import/Export Licenses and Permits

Depending on your products, you may need an import permit from the Nigerian Customs Service, a phytosanitary certificate for agricultural exports, a NAFDAC approval for food, drinks, cosmetics, and pharmaceuticals, or a SONCAP certificate from the Standards Organization of Nigeria for product quality.

Understand Trade Regulations

You must obey these rules when you import and export goods from Nigeria:

Dues and tariffs

List of goods that are not allowed or restricted

Paperwork needed to clear customs

Important papers to bring in or take out:

Airway Bill or Bill of Lading

Bill for business

What to Pack

Authorization to Grow

Certificate of Insurance

Source Your Products

To bring in:

In China, the US, the UK, India, or other trade hubs, look for sources you can trust.

Use sites like Global Sources, Alibaba, and Made-in-China. 

As an export:

Work with farms, manufacturers, and producers in Nigeria.

Keep an eye on quality to make sure you meet international standards.

Arrange Shipping and Logistics

Partner with freight forwarders and transportation companies to:

Take care of customs paperwork

Handle freight by sea or air

Be sure to deliver on time.

Secure Financing

Businesses that import and sell need a lot of money. Some options are:

Banks that finance trade

Grants from the government for trade

Non-public investors

This is the Export Expansion Grant (EEG) from NEPC.

Market Your Business

To make your business successful, you should market it both locally and abroad. 

Create a professional website, attend trade shows and exhibitions, make connections with buyers and sellers, and use social media marketing.

Cost of Starting an Import and Export Business in Nigeria

It costs between ₦500,000 and ₦2 million for a small business, between ₦2 million and ₦10 million for a medium business, and over ₦10 million for a large business. The costs cover things like business registration, licensing and permits, product sourcing, shipping and customs clearing, marketing and promotion, and more.

Profitable Products to Export from Nigeria

Some Profitable Products to Export from Nigeria are Ginger, sesame seeds, cocoa beans, cashew nuts, palm oil, shea butter, leather goods,

Profitable Products to Import into Nigeria

Tech and electronics

A car and extra parts

Business tools

Clothing and other things

Products for health and beauty

Gistblog9ja's conclusion on How to Start Import and Export Business in Nigeria If you plan ahead, starting an import and export business in Nigeria can be a fantastic way to make money. You can make your business successful by researching the market well, following the law, and making trade networks you can rely on.

 Your business can then sell goods to both local and international customers. With Nigeria's economy growing and trade opportunities growing, now is the best time to invest in import and export. Remember that patience, following the law, and networking are the keys to long-term profits.