20 things to consider when importing a foreign product into Nigeria

Importing foreign products into Nigeria is not an easy task but it is profitable and worthwhile if those product are in high demand and relevant among potential buyers in the marketplace.
These are the things you need to put into  consideration when importing goods from overseas into Nigeria

  1. Can you afford to do it?this the point you need to raise some money for the importation of foreign product because it can sometimes be capital intensive.
  2. Find a genuine supplier to avoid falling into hands of those that sales fake or contraband products
  3. Consider asking needful and necessary question among those merchant who are into importation line of business
  4. Will the product you are about to import be of high demand by your prospective customers
  5. How does the product you intend to import change people’s life positively.
  6. Get to know if the product is trusted and reliable from pre-existing merchant.
  7. Write down the total budget you have in mind,this can be achieved if you have ask for the amount of the product from your supplier.
  8. Compare the currency rate exchange to Nigeria currency rate, to avoid running out of some funds
  9. Consider the quality of the product,it matters alot.
  10. How much it will cost you to import those goods into Nigeria?in terms of conveyance of the product into Nigeria
  11. Nigeria custom levy fees,this levy are sometimes heavily imposed on foreign product mostly car importation it will be on the high side.
  12. Consider the risks of importing foreign products.We have heard the sad story about some missing imported goods,either the ship sunk or went missing.
  13. Choose the country you want to import from depending on the type of business you manage.China,Germany,Italy and Cotonou(Benin Republic)these are mostly where oversea products are purchased

Author: admin
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