In our previous post, we discussed extensively on the opportunities in exportation business and we even gave our free business plan/ feasibility report on it to get you started.
As a follow-up and in answer to some of your questions, we will be discussing the practical step by step guide to obtaining an export license easily.
Exportation business remains lucrative irrespective of the type of product you exports, whether an Agricultural product like better Leafs, better kola, soybeans, Crayfish, catfish, etc or you choose top export Mineral products, the earning potential is high. However, if you intend starting and export business on a large scale then the need to obtain an export license from the regulatory agencies becomes mandatory.
An Export License provides legal coverage for you and your exportation business and enables you to export governmentally approved export commodities.
In Nigeria, there are basically two approved government agencies commissioned to issue an export license and they are:-
Nigeria Export Council and
Federal Ministry of Solid Mineral Development.
For agricultural products and commodities, Nigerian export promotion council is the regulatory body commissioned to issue an export license. But if you intend exporting only mineral products then you need head over to Federal Ministry of Solid Minerals development as they are responsible for licensing.
The registration process takes a little longer time than registration with C.A.C but fairly easy when you have all the requirements which include:
- Certificate of Business- this is your certificate of business registration with Cooperate Affairs Commission. The company you intend to get a license for must be fully registered.
- Fully Filled Registration Form: - Have applied you will need to duly fill out the form given to you with you full credentials
- Processing Fee: - this is the fee required for first time registration.
With this above requirement, you can head to any office of the ministries mentioned above to start the process.
If you have any question please feel free to ask. West Entrepreneur is a forum thus your question or contribution are highly welcomed.
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