Post by Trade facilitator on Oct 22, 2022 18:46:37 GMT 1
Export is regulated by government regulatory agencies, saddled with the responsibility of ensuring that standards of operations are met. For example, the International Organization of Standardization(ISO). It is an international standard development organization composed of representatives from the national standards organizations of member countries.
They also monitor the supply chain of various member states, improve product quality, ensure interoperability of competitors' products, and provide a technological baseline for future research and product development.
Nigeria's primary regulatory export agency is the Nigerian promotion council. They ensure the promotion, development and diversification of member states. It does so by promoting the development of export-related industries through active support of favourable policies and programmes at the federal level and training and technical assistance to developing businesses.
This notice is issued for the consumption of Exporters, agencies and institutions involved in various exporting businesses and promotions.
1. Keep proper documentation: In a bid to adhere to stipulated procedures, more emphasis is laid on documents relating to price, quality, shipment and movement origin. On the other hand, the buyer required documents for clearing the goods.
2. Every export business is required to be registered under the Nigeria export promotion council (NEPC)
3. Every Export business must complete Form NXP with an authorized dealer. Authorized dealers, in this case, include the Exporter's bank, Nigeria Customs Services, Pre-shipment Inspection Agents, etc. This is a mandatory form that all exporters must complete to ship goods outside Nigeria.
4. Exporters are allowed foreign exchange chargeable to their domiciliary account. The Exporter could also use export proceeds from the domiciliary account for imports, provided the proceeds have been fully repatriated in the first instance.
Documentation requirements
The following documentary requirement is needed for an export business
✓A duty completed form NXP: The Exporter shall complete a Form NXP to include the following details: Name and Address of Exporter, NEPC Number, Description of the goods to be exported, Quantities and their measurements o Unit cost of good, Total cost of goods, Other charges, if any, mode of transportation, Name and Address of buyer (consignee), Country of destination, other documents such as Phytosanitary Certificates, Certificate by SON, NAFDAC,
✓A proforma invoice: a quotation prepared in an invoice format; it is the preferred method in the exporting business. A quotation that describes the product, states a price for it, sets the time of shipment and specifies the terms of sale and terms of payment
✓Sales contract agreement: A Sales Agreement is a legally binding contract used between a buyer and a seller to outline the terms of a transaction. The buyer or Seller can create a Sales Agreement to document the transaction. A Sales Agreement outlines: Details about each party. The exchange of goods or services.
✓NEPC registration certificate: this is issued within one working day of payment confirmation. Please note that your certificate could be delayed by non-confirmation of payment, irregular documentation or insufficient information.
NEPC-issued certificates are valid for an initial two years (24 months ), after which it becomes renewable every year
In addition to obtaining an exporter's certificate, you can also access the following trade support services:
Export incentives
Export capacity-building programmes
Trade linkages (C2C,B2B, B2C)
✓Relevant certificate of quality/ Inspection.: the document issued by the Seller in respect of the Goods confirming the quality of the Goods under the Contract. At the same time, a certificate of inspection is a document which certifies the condition of a commodity (especially perishable goods) at the point of analysis or examination or before shipment. Inspection of goods is generally carried out when cargo is to be shipped or transported to different countries, especially developing ones.
They also monitor the supply chain of various member states, improve product quality, ensure interoperability of competitors' products, and provide a technological baseline for future research and product development.
Nigeria's primary regulatory export agency is the Nigerian promotion council. They ensure the promotion, development and diversification of member states. It does so by promoting the development of export-related industries through active support of favourable policies and programmes at the federal level and training and technical assistance to developing businesses.
This notice is issued for the consumption of Exporters, agencies and institutions involved in various exporting businesses and promotions.
1. Keep proper documentation: In a bid to adhere to stipulated procedures, more emphasis is laid on documents relating to price, quality, shipment and movement origin. On the other hand, the buyer required documents for clearing the goods.
2. Every export business is required to be registered under the Nigeria export promotion council (NEPC)
3. Every Export business must complete Form NXP with an authorized dealer. Authorized dealers, in this case, include the Exporter's bank, Nigeria Customs Services, Pre-shipment Inspection Agents, etc. This is a mandatory form that all exporters must complete to ship goods outside Nigeria.
4. Exporters are allowed foreign exchange chargeable to their domiciliary account. The Exporter could also use export proceeds from the domiciliary account for imports, provided the proceeds have been fully repatriated in the first instance.
Documentation requirements
The following documentary requirement is needed for an export business
✓A duty completed form NXP: The Exporter shall complete a Form NXP to include the following details: Name and Address of Exporter, NEPC Number, Description of the goods to be exported, Quantities and their measurements o Unit cost of good, Total cost of goods, Other charges, if any, mode of transportation, Name and Address of buyer (consignee), Country of destination, other documents such as Phytosanitary Certificates, Certificate by SON, NAFDAC,
✓A proforma invoice: a quotation prepared in an invoice format; it is the preferred method in the exporting business. A quotation that describes the product, states a price for it, sets the time of shipment and specifies the terms of sale and terms of payment
✓Sales contract agreement: A Sales Agreement is a legally binding contract used between a buyer and a seller to outline the terms of a transaction. The buyer or Seller can create a Sales Agreement to document the transaction. A Sales Agreement outlines: Details about each party. The exchange of goods or services.
✓NEPC registration certificate: this is issued within one working day of payment confirmation. Please note that your certificate could be delayed by non-confirmation of payment, irregular documentation or insufficient information.
NEPC-issued certificates are valid for an initial two years (24 months ), after which it becomes renewable every year
In addition to obtaining an exporter's certificate, you can also access the following trade support services:
Export incentives
Export capacity-building programmes
Trade linkages (C2C,B2B, B2C)
✓Relevant certificate of quality/ Inspection.: the document issued by the Seller in respect of the Goods confirming the quality of the Goods under the Contract. At the same time, a certificate of inspection is a document which certifies the condition of a commodity (especially perishable goods) at the point of analysis or examination or before shipment. Inspection of goods is generally carried out when cargo is to be shipped or transported to different countries, especially developing ones.
