Export business in Nigeria has grown considerably over the years. This is because one of the many ways by which a country boosts its economy and grows its GDP is by the exportation of goods and services to other countries. Nigeria is a country that is blessed and rich in natural resources and these resources help provide revenue. These resources include Natural Gas, Tin, Coal, Limestone, and many more.
Also, Nigeria is a land which is very fertile therefore many species of agricultural produce which cannot be easily obtained in other countries are found to be growing here. These agricultural produce are essential foods which people eat or convert into other products which are then sold to consumers for consumption.
If you are looking at starting export business or foodstuff export business in 2023, this article will help you. Also, there is no better time to start export business in Nigeria than now. Covid-19 pandemic has even brought more opportunities for the demand of African products, making it easier for smart exporters to make money exporting. The recent signing of the African Continental Free Trade Area (AFCTA) by the African Union has even made it easier to export within Africa without much hassle.
The demand for African foodstuffs in Europe, America and Canada (Diaspora) is fast rising due to the increasing population of Africans in this country, especially Nigerians who immigrate for work and for the purpose of schooling. These people crave and want the undiluted taste of their home food after all there is the saying that goes “ There is no place like home” . These people miss their culture and so, therefore, find means of being familiar with that which is by eating the Nigerian food they can find in the diaspora. This is where food exporters come in.
Food exporters export Food Produce to retailers running ethnic shops and consumers in countries such as the US, Europe and Canada. Food export business is infact very profitable because of the demand for African food abroad. The volume of Nigerian export of foodstuffs to these countries is still on a very small scale considering the estimation of well over 20 million Nigerians who reside outside the country, with the majority, living in the UK, the US and Canada. This is an excellent chance to sell to this category of people. You can also tap into this money market by going into the export business as it helps generates huge amounts of income.
Steps to Begin Food Export Business
There are lots of money making opportunities in the export industry, you can tap into that by starting your own food export business. Here’s some steps to follow to begin:-
Step 1- Register Your Business:
Register your business name or private limited company with the Corporate Affairs Commission in Nigeria and with the National Export Promotion Council for an export license. This is done to legalize your business and avoid any legal issues that might pop up. It provides a platform for potential buyers to source for information on reliable exporters. Also, it acknowledges the exporter’s license and also portrays the interest of Nigerian sellers before buyers in diaspora.
Step 2 – Choose the Products to Export:
After registering your business, the next thing to do is to decide the products to be exported. There are a lot of agricultural produce that can be exported. It is more reasonable to make this decision before starting up. To determine this, you can examine the market trends and know what people are interested in buying or selling. Also, Research unique products to reduce huge competition and also create market space for your business. (At the end of this post, there is a link where you can download those unique products that you can start exporting)
Step 3 – Source for Direct Producers and Suppliers
This is an important step because it is where your produce will come from. Search for the producers or suppliers of the goods you intend to export. If you can meet the demand rate of your customers, then you can produce and supply items by yourself. But if not, Establishing a link with other producers and signing a deal with them will work. You can begin by visiting the production site of these goods you want to export or find a way to discuss with the farmers of products to be exported. Verify that all products are of high quality. The better the quality, the more consumers will patronize you. Luckily enough, you can get access to thousands of exporters and importers in Nigeria from ABENCONNECT.com, an African b2b platform to connect suppliers of African products to local and global buyers
Step 4 – Pricing your Product
To put the right price on your product, you must calculate all expenses, do a market research and analysis on how much the product is being sold, how much consumers and retailers are willing to pay and the rate of demand of the product. These details will help you determine how to price your product.
Step 5 – Deal with Logistics to Export Your Products
An exporter is expected to package and label products correctly, document them and insure against losses. Many exporters make use of the services of freight forwarders to take care of all of this. Also, there are other basic documents required for exporting goods. They are; Certificate of Origin, Insurance certificate, Shipping bill, Certificate of Inspection, Export License, Commercial Receipt, Packing list e.t.c Freight forwarders can help in handling all these protocols.
What Food to Export Out Of Nigeria
There are several agricultural produce in Nigeria which are in high demand in other countries. Here are some which you can start importing:
- Honey
- Ginger
- Cassava Flour
- Sesame Seeds
- Garlic
- Palm Kernel Oil
- Cashew Nuts
- Snail and many more.
Conclusion
Starting an export business in Nigeria has its own challenges however with this guide, you can decide to start your journey as a food exporter. You can always start small and scale up your business from there. Food export is very lucrative and you can generate income for yourself by starting your own food export business.
However, If you want to start your own export business in Nigeria successfully and you would like to discover the no-fail formula for starting and growing it into a 7 figure exportation business in 7-27 days or less from today like our successful students, our Export Business Bootcamp, a 4-part video series, will be very helpful for you. Click here to pre-register and get a free guide on“100+ Hot-Selling Exportable Products“ .
Actual a full time novice and would
Really love to be a part
Good information for people who are ready to export food from Nigeria.