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NAFDAC E-LICENSE: DIGITIZE PERMIT/CERTIFICATE
What is NAFDAC e-license digitization? On a circular – TED/PFO/BNK/CON/01/053 dated 30 august 2019, the CBN announced NAFDAC e-permit on the Form M system. The circular is addressed to all authorised dealers, the Nigeria Customs and the public. The commencement of the NAFDAC’s e-permit is on the 9th September 2019. Thus, this means that NAFDAC Permit for import of commodities is now to be…
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COST OF CLEARING LEXUS CARS NIGERIA 2019
COST OF CLEARING LEXUS CARS NIGERIA 2019
Cost of Clearing Lexus Cars Nigeria you mean? This is exactly what this article seeks to address. First and foremost, all quotations in this article are based on full customs duty for each vehicle. What this means is that your sales invoice expires at the point of sale. Thus, Customs ex-factory price is used to determine duty.
What is included in the cost of clearing Lexus cars in Nigeria? The…
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BEST SEAPORTS NIGERIA: HOW TO SELECT SEAPORT
BEST SEAPORTS NIGERIA: HOW TO SELECT SEAPORT
Best seaports in Nigeria? Have you tried asking the question before? Do you plan importing goods to Nigeria and you are confused which seaport to use? Look no further. This article for best seaports Nigeria is written primarily to help importers and exporters with specifics. Today we will focus on each of the seaports and what is unique about them.
Read Also: FORM M NIGERIA: HOW TO PROCESS AND…
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COST OF CLEARING TOYOTA CARS IN NIGERIA
COST OF CLEARING TOYOTA CARS IN NIGERIA
What is the Cost of clearing Toyota cars in Nigeria? Do you want to know how much it will take you to clear Toyota cars before buying one? Definitely! Almost every rational consumer would like to know the overall cost of clearance before buying cars abroad. Be that as it may, prospective buyers have found answer the question of clearing cost too hard to get. Some have resorted to blind buying.…
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SONCAP NIGERIA: COMMODITIES IN SENSITIVE LIST
SONCAP NIGERIA: COMMODITIES IN SENSITIVE LIST
SONCAP is an acronym for Standard Organisation of Nigeria Conformity Assessment Program. SON Product Certificate is a prerequisite to obtaining SONCAP. Therefore, you must first of all obtain a SON Product Certification before seeking a SONCAP. Usually, the Product Certificate is used with some other documents to process Form M. Form M is an estimated but official declaration to government of…
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MILK IMPORTATION INTO NIGERIA: NO FOREX?
MILK IMPORTATION INTO NIGERIA: NO FOREX?
Milk importation into Nigeria will no longer be a free-for-all ride. The reason is because milk importation into Nigeria will be added to items restricted for foreign exchange. Governor of the Central Bank of Nigeria, Godwin Emefiele gave this hint on Tuesday 23 July, 2019. The Governor made this known while addressing journalists at the end of the two-day meeting of the monetary policy committee…
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CTN: NIGERIA CUSTOMS TO RETURN CTN IN 2019?
CTN: NIGERIA CUSTOMS TO RETURN CTN IN 2019?
CTN – Cargo Tracking Note may seem a rather strange term to most importers. Especially so, if you were not around the logistics industry in the year 2009 when CTN was first introduced into Nigeria. At seeing the abbreviation – CTN, some would think it’s a short form of container. Others may look at it as representing carton. Yet a few, with medical background could have perceived it as Clinical…
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STARTING TO IMPORT TO NIGERIA: HOW?
STARTING TO IMPORT TO NIGERIA: HOW?
Starting to import to Nigeria requires some knowledge for success. When importing goods from any country to Nigeria, you’ll need to:
Check which government agency regulates the commodity. Most commodities are regulated by the Standard Organisation of Nigeria.
Find out the Customs tariff code to classify your goods for duty, levy, and tax.
Get rough estimate of overall cost of importing the goods.…
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VAT INCREASE IN NIGERIA: MORE IMPORTATION DUTY
VAT INCREASE IN NIGERIA: MORE IMPORTATION DUTY
VALUE ADDED TAX red Rubber Stamp over a white background.
VAT increase in Nigeria appears to be long overdue, especially considering the argument that Nigerian VAT is the least. What is VAT? How does VAT connect the importation duty? What is the federal government plan for 2020? This article will show what the federal government of Nigeria have in store for VAT in 2020. We will also see what…
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NIGERIA NEWS: CENTRAL BANK SET POLICY ROADMAP
NIGERIA NEWS: CENTRAL BANK SET POLICY ROADMAP
Nigeria news is constantly being updated. Today, the Governor of Central Bank, Godwin Emefiele, has presented the Monetary Policy roadmap for his 2019-2024 stay in office. This policy document is all-embracing, and is a must read by all. This article kind of captures achievement in the first lap of the governor’s tenure and the future 5 years. Read the full report of the bank’s achievements in…
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CUSTOMS REQUIREMENT: OVERTIME CARGO
CUSTOMS REQUIREMENT: OVERTIME CARGO
What is Customs requirement on overtime cargo? Or rather, what is overtime cargo? What informed my decision to write this article? Let me begin by addressing the last of these 3 questions. Put shortly, this article is written for enlightenment purposes. I meant to say that this article is put together for the purpose of information. Many people have bumped into my office or website homepage to…
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NIGERIA IMPORTS: IMPORTERS WILL PAY MORE DUTY
NIGERIA IMPORTS: IMPORTERS WILL PAY MORE DUTY
NIGERIA IMPORTS
Nigeria imports duty payable by importers have remind stable for some years. The reason is because the central bank of Nigeria has maintained a stable local-currency-to-foreign-currency rate for importation. Exchange rate between the Nigerian legal tender and the dollar was left at N306 to one dollar. This kind gesture has greatly benefited importers of commodities into Nigeria.…
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CUSTOMS CLEARANCE AGENT: CARGO NIGERIA
CUSTOMS CLEARANCE AGENT: CARGO NIGERIA
Customs Clearance Agent is a company with technical know-how to interface with Customs, other governmental agencies, and importers of commodities. The services rendered by customs clearance agent is usually seen as first-line to importers of goods. Without the customs clearance agent, importer of goods could make mistakes that lead to very high overall process cost.
Read Also: CUSTOMS CLEARING…
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IMPORT DUTY NIGERIA: GOVERNMENT's NEW LEVY
IMPORT DUTY NIGERIA: GOVERNMENT’s NEW LEVY
CUSTOMS DUTY
Import duty Nigeria could mean different thing to different people. Used in a loosed sense of a novice, import duty could embrace a whole lot. The lay man or fresh importer thinks import duty covers all charges payable upon importation. Conversely, import duty is not the only duty or money payable on importation to Nigeria. Other duties come in the form of import levy and value added…
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EXPORTATION LICENSE: GOODS FOR EXPORT
EXPORTATION LICENSE: GOODS FOR EXPORT
Exportation license is a legal document issued by the state or its agency, which shows permission to export goods. The term export license is often used interchangeably with the term export document. In this article, we shall see slight difference between both terms. However, the article is not all about the definition of terms. The article will show that export from Nigeria has a well-defined…
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NIGERIA ECONOMY: A COUNTRY MOVING FORWARD?
NIGERIA ECONOMY: A COUNTRY MOVING FORWARD?
Nigeria is made up of not less than 250 ethnic groups, each with her unique language. A recent survey puts the population of Nigeriaat 203,442,505. Although the country is multi-ethnic, economic factors seem to be most talked about line of division in recent times. Nigeria plays a pivotal role in the economy of West Africa, Africa, and the world at large. The purpose of this article is not to…
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CLEARING GOODS THROUGH CUSTOMS: Inspection
CLEARING GOODS THROUGH CUSTOMS: Inspection
Clearing goods through Customs? What is cargo examination? The term cargo examination or simply examination is used to refer to physical inspection of cargo. What really is the purpose of cargo examination? Who does cargo examination? What is new in the Nigeria Customs with respect to cargo examination?
Read Also: FORM M NIGERIA: HOW TO PROCESS AND OBTAIN IT
This article is written to indicate…
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