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. Costs include item cost, freight cost, duty and taxes payable. Also check to know cost of local haulages Customs Brokerage services.
- Declare your imports to customs in Nigeria. Form M document helps you to achieve just that.
- Choose best shipping method that guarantees less cost and is efficient to your timing. Lighter goods are best shipped by air if needed urgently.
Starting to Import to Nigeria: import declarations to Nigeria customs
Form M serves as the first initial declaration of goods to the Customs and the Central Bank. Most businesses use the bank or Clearing Agents to make customs declarations for them.
You can make your own Form M document by yourself. However, the process could be a bit tedious for first time importers. Contact us to make Form M and all other documentation for you at the best price.
Read more about how to get Form M here: FORM M NIGERIA: HOW TO PROCESS AND OBTAIN IT
Starting to import to Nigeria: paying duty on imports to Nigeria
You are required to pay duty on goods imported from any country to Nigeria.
The amount of duty you pay depends on how the goods are classified under the Nigeria Trade Tariff. Other factors considered include goods usage. Personal effects and charitable goods are duty free. Also certain production equipment may be duty exempted.
Your goods will not be released by customs until you’ve paid all duty, levy and taxes applicable.
Read more about Import duty in Nigeria here: CALCULATING CUSTOMS DUTY; NIGERIA AS EXAMPLE
Getting to know overall importation cost
Besides importation duty, levy and taxes payable to the government coffers, there are other expenses. Seek to know how much the shipping company local charge is for instance. Also find out the in advance the terminal handling costs for your goods or container. Would you engage the services of a Customs Broker like me? Surely, you like to know the cost well in time.
Read more about what a Customs Broker will do for you here: CLEARING AGENT NIGERIA: ROLE IN IMPORTS