For those who like to have there own export company or obtain an export license; this post is for you. As I will be teaching you how to register an export company in Nigeria in this post.
For example, Mr. Jay, a successful manufacturer has been in business for about fifteen years. He is turning out a good product; it is selling well in Nigeria; and he would like to extend his plant and increase his production. But to do this, he needs more customers. He has an idea.
So, why not look for those new customers in foreign markets as well as at home. This will not only help him, but will bring into his country more of the foreign exchange that it needs. But before all these he needs an export license.
There are two government agencies vested with the power to grant export licenses in Nigeria. They are: The Nigeria Export promotion council (NPEC) and Federal Ministry of Solid minerals development.
NEPC is saddled with the responsibility of issuing out export licenses for agricultural commodities and manufactured goods while the Federal Ministry of Solid Minerals Development is responsible for granting licenses for extraction and exportation in Nigeria.
Why The Need For Export License
The export license is required if you:
- At the Customs, you wish to send shipments
- Want to use any bank to send money to a foreign country
- Obtain funds in your bank account (for the products exported)
The Advantages of an Export License
You will be able to access any new markets you wish to investigate once you have obtained an export license. It would typically result in an increase in income. Additionally, you can easily expand your customer base abroad by asking those who purchase from you to spread the word.
No Filing of Returns
The fact that you are exempt from filing returns is one of the main advantages of having an export license. The license does not require the usual maintenance procedures that many other licenses do after you obtain it.
Take Advantage of Government Programs
In accordance with the Foreign Trade Policy, which encourages imports and exports within Nigeria. If you regularly export and have an export license, you may be eligible for a number of government programs, including the Duty Exemption and Remission Scheme, the Duty-free Import Authorization Scheme (DFIA), the Duty Drawback of Customs/Central Excise Duty/Service Tax, and many others.
REGISTRATION WITH NIGERIAN EXPORT PROMOTION COUNCIL(NEPC):
ORGANIZATIONS ELIGIBLE FOR REGISTRATION AS EXPORTERS ARE:
Not all companies can registered as an export company in Nigeria. That is why it is important you know thy types of company allowed to obtain export license in Nigeria.
- Limited Liability Company
- Co-operative Societies registered by State Ministry of Commerce and FCDA and Government and Non-Government Organizations duly registered by Corporate Affairs Commission (CAC)
STEP BY STEP NEPC REGISTRATION REQUIREMENTS
Getting an Export license from NEPC means that you are interested in exporting agricultural products. Here are the procedures to follow in other to obtain an export license from NEPC for the export of agricultural commodities.
1. Your business must be duly registered as a limited liability company (LTD) with the Corporate Affairs commission (CAC) and you must tender a copy of your company’s certificate of incorporation as evidence.
2. You will have to purchase an application form for registration form NEPC at the cost of just N1, 000 only.
3.The completed application form must be submitted to their office with the sum of N10, 000 as processing fees with the following documents:
- Photocopy of Company’s Certificate of Incorporation;
- Certifies True Copy of Memorandum and Articles of Association
- Certified True Copy of Form CO7, in case of Limited Liability Company or a copy of the Law establishing the agency in case of Government Organization.
Please note that the schedule officer is expected to sight the original copies of the above documents.
4. After your registration is approved, a license issued to you. This normally takes at least one week.
You can register online at www.nepc.gov.ng
REQUIREMENTS FOR GRANTING SOLID MINERALS EXPORT LICENSE
Go to https://www.nipc.gov.ng/solidminerals.html to get information on solid minerals export license, by visiting the website of the Federal Ministry of Solid Minerals Development.
When you are through with your registration and have obtained the export license then, you are free to do business legitimately within and outside the country.