FAST TRACK CLEARANCE NIGERIA – HOW?
Fast track clearance Nigeria is the best cargo-clearing scheme ever. What really is fast track clearance Nigeria? How does it work? Who is qualified for fast track clearance? Or rather, how does one qualify for fast track cargo clearance? What are the benefits of clearing goods on fast track basis? Answers to these questions is […]
TRADE FINANCE NIGERIA
Trade finance terms inter-bank market and parallel market are of added meaning to every regular importer of goods and services. What really is parallel market? How does the parallel market work? How does the parallel market benefit your importation business? In this article, I will be discussing how the parallel market can help you speed […]
TEMPORARY IMPORTATION PERMIT
Temporary importation permit in Nigeria is a concession for duty and other taxes and importation procedure waiver, by Nigeria Customs on certain import equipment. In this piece of information, we shall tell our readers all things about temporary importation permit. Firstly, we will list goods and equipment that can apply for temporary import permit. Secondly, […]
IMPORTS TO NIGERIA: FREQUENTLY ASKED QUESTIONS
Imports to Nigeria and other countries come with so many questions. Especially so as the logistics industry is ever evolving. Many new importers and exporters are confused, not knowing where to begin. Some have abandoned noble ideas because of frustration. Still, others engage unqualified hands in cargo handling, and are frustrated down the line. Just […]
LPG IMPORTATION INTO NIGERIA AT ZERO DUTY?
LPG importation into Nigeria at zero duty? To import goods and equipment into Nigeria requires the payment of customs duty and VATS. Depending on the HS code, some goods pay import duty of 5%, 10%, 0r 20%. Ordinarily, importers of LPG pay 5% duty for propane base, and 0% duty for butane base. By duty […]
CBN 41 ITEMS LIST FREE TO ACCESS FOREX
CBN 41 items list were restricted from foreign exchange following the interbank market. Importers of items on the list were to seek approval from CBN, stating their source of funds. In our article for CBN 41 items not valid for forex, we gave a point-by-point guide on how to import listed commodities. The CBN at […]
PRICE VERIFICATION SYSTEM (PVS): HOW TO PROCESS IT
Price verification system (PVS) is a system created by the Central Bank of Nigeria (CBN) as a build-up to the controversial e-valuator. Like every new system, the introduction of price verification system has created a lot of confusion. Many importers and exporters are confused what exactly the PVS is. While some are wondering if PVS […]
NERC IMPORTATION PERMIT: HOW TO PROCESS IT
NERC importation permit is permit to import power-generating sets. The Nigeria Electricity Regulatory Commission (NERC) is responsible for issuance of NERC importation permit. What are the requirements to obtain NERC import Permit? What is the cost of NERC permit? This article will answer in a straight-to-the-point manner how to process NERC permit. In addition, you […]
DUTY EXEMPTION IN NIGERIA: HOW TO PROCESS IT
Duty exemption in Nigeria or import duty exemption in Nigeria is indeed a good incentive from the government. What really is import duty exemption in Nigeria? Are all imports qualified for duty exemption? If not all products are suitable for import duty exemption, what products are? How can you process duty waiver for suitable goods […]
BILL OF LADING NIGERIA: WHAT TO KNOW
Bill of lading Nigeria is a title we are using intentionally to indicate our focus on goods going into Nigeria. However, this information for bill of lading Nigeria is a comprehensive information about the bill of lading in general. The article is a sort of compendium of what the bill of lading is. Consequently, we […]