What does export mean to my business?

Exporting will provide your company with prospects for growth in profits and competitiveness. The Australian market is open to international forces so if you are successful in Exporting will provide your company with prospects for growth in profits and competitiveness. The Nigerian market is open to international forces so if you are successful in Nigeria there is a good chance your product or service will meet international competition. Developing a new market anywhere (interstate or overseas) requires an investment of time and resources. You need to be sure at the start that export will benefit your company. Any new business strategy requires commitment – and none more so than exporting. You need to have all your staff signed on to the company's export success.

Exporting can be a profitable way of expanding your business, spreading your risks and reducing your dependence on the local market. Nigeria research shows that, on average, exporting companies are more profitable than their non-exporting counterparts.By exporting it exposes you to new ideas, management practices, marketing techniques, and ways of competing that you wouldn’t have experienced by staying at home. All this considerably improves your ability to compete in the domestic market as well, by going overseas, you can become more efficient and increase your productivity. Exporting companies have better growth prospects, highly skilled, highly productive staff and tend to adapt tecchnology and best practice techniques faster. Even if you have a limited domestic market, you should think about exporting - around a quarter of new exporters are born globals & find exporting natural. I guarantee you that by reading blog post from the previous to date you get to no how easy  it is to start your your business. 

Responsibilities of the Importer

Responsibilities of the Importer

1. It shall be the duty of the importer to ensure that the supplier makes available the pro-forma invoice in accordance with the imports procedure of the country. As a result, there must be no ambiguity in the description of the goods

2. The importer shall also ensure that all the documents to be forwarded to the Authorized Dealer Bank are genuine and verifiable


3. All the requirements listed under the imports procedure must be complied with before documents are forwarded to the Authorized Dealer Bank.

4. The importer shall also advise the Supplier on the status of the relevant Form M before shipment takes place.

Documentation Requirement for Import Payments under the DI Scheme

Documentation Requirement for Import Payments under the DI Scheme

1. Confirmed letters of credit

Original copies of:
1. Approved Form ‘M’
2. CCVO
3. Manufacturer’s Certificate with standards adopted stated thereon
4. Clean/Shipped on Board Bill of Lading/Airway bill/ road Way bill
5. Packing list
6. Letter of credit instrument (tested)

2. Documents to be submitted after clearance of goods:
1. Risk Assessment Report (RAR) with the Form ‘M’ no.
2. Single Goods Declaration (SGD) Form duly completed and signed by either the importer or his appointed Agent.
3. CCVO
4. Copy of the packing list
5. Import Duty Payment receipt with the SGD number clearly stated thereon
6. Copy of the attested Manufacturer’s Certificate with Standards adopted stated thereon
7. Copy of the Carrier Certificate
8. Laboratory test certificate for chemicals, food, beverages, etc.

3. Bills for Collection Transactions
1. Approved Form ‘M’
2. SGD Form
3. CCVO
4. Attested Manufacturer’s Certificate;
5. Shipped / Clean on Board Bill of Lading/Airways Bill/ road waybill,
6. Certificate of Insurance
7. Import duty Payment receipt with SGD No. stated thereon
8. Bill history/bill of exchange
9. Tally Sheet/Gate Pass
10. Packing List









It should be noted that these documentation requirements for imports under Destination Inspection Scheme are part of the provisions of the Foreign Exchange Manual. Consequently, the relevant provisions on imports as they relate to the Comprehensive Import Supervision Scheme (CISS) are hereby amended by the provisions of this circular.