Investor Presentaiton
The Country and its
institutions
Business Organisation Labour and Social
and Regulation
Security Regulations
The Nigerian Financial Tax System
Services Industry
Foreign Exchange
Transactions
Investment in Nigeria
Accounting and
Auditing Requirements
Importation of Goods Exportation of Goods
COVID-19 Economic
and Fiscal Measures
Generally, all goods (raw material or finished) are exportable from Nigeria except the
following:
• raw hides and skin (including Wet Blue and all unfinished leather);
. timber (rough or sawn)
• unprocessed rubber latex and rubber lumps;
•
artefacts and antiquities;
wildlife animals classified as endangered species and their products e.g. crocodile,
elephant, lizard, eagle, monkey, zebra, lion, etc.;
•
maize;
•
scrap metals
•
all goods imported.
10.1 Registration of Exporters
Any individual or company doing business in Nigeria may export goods from
Nigeria if duly registered with the NEPC. After registration, the exporter is issued
a certificate which is valid for an initial period of two years and subject to annual
renewal. NEPC is, among other things, responsible for the development of
traditional exports, promotion of export markets, provision of advice to government
on export financing and incentives, provision of trade information services,
facilitation of existing export procedures and documentation, the organisation
of training programmes in export management and international marketing, and
assistance in securing prompt payment for exports. NEPC is the sole agency
responsible for administration of export incentives in Nigeria.
10.2 Export Procedures and Documentation
All goods (oil and non-oil inclusive) exported from Nigeria are subject to inspection
by Government-appointed pre-shipment inspection agents (PIAs) with respect
to the quality, quantity and price-competitiveness of such goods. The goods are
typically inspected at seaports, airports, terminals or other points of dispatch
subject to the PIAs' right to request inspection at production or storage points.
Expenses incurred in the course of inspection, sampling and testing are borne by
the exporter, including provision of necessary facilities for inspection.
Below is a summary of export procedures contained in the guideline issued by
the Honourable Minister of Finance, Budget & National Planning and public notice
issued by the Central Bank of Nigeria on e-Form NXP:
i.
ii.
Completion by the exporter (at least 10 days before shipment) of e-Form NXP
(Nigerian Export Proceeds) on the Trade Monitoring System. The exporter pays
a charge of #5,000 per declaration of the e-Form NXP in addition to Nigerian
Export Supervision Scheme (NESS) charge of 0.5% and 0.12% of FOB value of
the intended non-oil and oil/gas exports, respectively. The designated bank shall
remit this to the NESS fee account in the CBN;
Collection of RFI Form (Request for Information) by the exporter from the
inspection agent with a view to arranging a suitable time and place for the
physical inspection of the consignments;
iii. Pre-shipment inspection of all exports by inspection agents who shall issue a
Clean Certificate of Inspection (CCI) certifying the quality, quantity and value
of the goods to the consignee, within 72 hours after the inspection of the
goods. The pre-shipment agent shall collaborate with other relevant regulatory
agencies for the inspection and certification of regulated products;
iv. Submission of the Bill of Lading Declaration Form by the exporter to the
inspection agent after loading;
V.
Commencement of loading to sea-going vessel, aircraft, or border crossing
vessel. Where discrepancies are noted, the PIA will issue a non-negotiable
Certificate of Inspection which will remain valid until a CCI is issued after the
discrepancies are resolved;
vi. Delivery of the original CCI by the inspection agent to the exporter.
vii. Once goods have been inspected and CCI issued, any variation will render the
exporter liable to penalties, and any cargo without a duly issued CCI will not be
granted access by the NCS.
81 Investment in Nigeria Guide - 8th Edition
KPMGView entire presentation