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Nigeria, often referred to as the giant of Africa, is a country teeming with potential and burgeoning business opportunities. With its vast resources, youthful population, and strategic location, Nigeria presents a fertile ground for entrepreneurs and investors looking to carve out a niche in various sectors. This article delves into some of the most promising business opportunities in Nigeria.

 1. Agriculture

Agriculture remains one of the most significant sectors in Nigeria and very much underdeveloped , offering immense opportunities for innovation and investment. With a population exceeding 200 million, the demand for food is insatiable. Businesses focusing on crop production, livestock rearing, and agro-processing have a strong chance of success. Moreover, the Nigerian government is actively promoting initiatives to enhance food security and reduce import dependency, making this sector even more attractive. Entrepreneurs can explore organic farming, export of agricultural products, and the development of agro-technologies to create sustainable business models.

 2. Information Technology

The tech ecosystem in Nigeria is rapidly evolving with serious innovations in the FINTECh sector, thanks to a growing number of tech hubs and a vibrant startup culture. With a significant percentage of the Nigerian population now connected to the internet, there is an increasing demand for digital services. Opportunities abound in areas such as software development, mobile applications, e-commerce, and cybersecurity. In particular, fintech has gained substantial traction as many Nigerians seek efficient banking solutions. The rise of digital currencies and payment systems presents lucrative ventures within this space with leaders like Paystack, flutterwave and so on.

 3. Renewable Energy

As Nigeria grapples with inadequate electricity supply, renewable energy presents an exciting business opportunity. The country is blessed with abundant solar, wind, and hydroelectric resources, making it an ideal candidate for renewable energy solutions. Companies that can provide affordable and sustainable energy solutions, such as solar panels or mini-grids for rural communities, are likely to thrive. The Nigerian government has shown interest in diversifying energy sources, thereby creating a conducive environment for investment in this sector. In fact, most Nigerians believe that once the energy needs of Nigeria has been sorted, there would be a great leap in economic developement

The relationship in trade  between the UK and Nigeria has seen significant growth in recent years, driven by Nigeria’s large population and expanding economy. As international markets evolve, the demand for various goods continues to increase. If you’re considering exporting from the UK to Nigeria, here are the top ten products that hold considerable potential. Thorough research on each one need to be undertaken before full engagement.

1. Pharmaceuticals
Nigeria's healthcare sector is in urgent need of high-quality medicines and healthcare products. UK pharmaceutical companies are well-regarded for their rigorous safety standards and innovative drugs. Exporting prescription medications, vaccines, and medical equipment can cater to growing health demands. Top grade refurbished medical equipments can come cheaper and profitable for any business, John Pye auctions is a good place to get some .

2. Fashion and Textiles 
UK fashion brands are recognized for their quality and design. As the Nigerian middle class grows, so does demand for stylish, durable clothing. From tailored suits to everyday wear, exporting fashion items, particularly those that emphasize sustainability, can meet emerging market trends. If you click here and scroll below this page , we have made some list for you .

This article is centered around startups operating within the UK and EU zones. This is more of a general guide on how to start exporting goods on behalf of customers to African countries.

OVERVIEW

Most African countries are serious importers of goods from the Western countries, be it personal or commercial in nature and this needs to be recognized by anyone thinking about being a freight forwarder and specialising in African freight. This means that you would need to put up a very good business structure to handle the customers and beat the competition. It is worth noting that some of the export routes are  already saturated with freight forwarders that are highly experienced and professional. Take Nigeria, Kenya and South Africa for instance , these routes are well established export routes and heavily operated by loads of experienced forwaders. That said it is also a viable export route for any forwarder to come into taking  consideration of  the volume of shipping jobs happening on these routes. Meanwhile countries like Zimbabwe , Tanzania,  and Cameroun may have the export demand from UK and Europe but not enough forwarders serving them. This is why it is important to do research on this and make the necessary contacts to put your business in the right position.

It is true that the larger the economy the more business opportunities available but the job of a professional forwarder is to explore where the best profit can be made . I will strongly advice that you start with the routes you know best or where you have a reliable contact.

THE BASICS NEEDED

Company Registration: Is your company registered in the country  you want to start the business from? Have you fulfilled all the requirements needed to start a freight forwarding business? Have you chosen the best name for your brand? If you haven't done the aforementioned items then you are not ready yet.

Freight forwarding companies are becoming increasingly popular. Many shippers hire a freight forwarder to act as their delivery partner in full compliance with shipping documents and delivery prerequisites.

However, if you’re in the freight forwarding industry, you would know that finding clients that need your services can be difficult. Many go for reputable transporters because logistics is a complex process, and not everyone is equipped to handle it. Trust issues also keep new clients on the edge as they are afraid of being scammed. Fortunately, registering your freight forwarding business can help you deal with these issues and land clients.

How Do You Identify a Fake Freight Forwarder?

A freight forwarder is an effective service supplier for businesses exporting or importing commodities and for people who want to relocate their complete family or merely ship certain goods to another nation.

Although there are many legitimate companies, the sector has sadly been tainted by dishonest freight forwarders.

We have deemed it appropraite to explain to our customers how the issue of Proof of export and VAT(Value Added Tax) refund works here for goods bought and exported outside the UK. Usually  most goods purchased in the UK and scheduled for export is entitled for a VAT refund as long as the Proof of export can be sent back to the supplier . We will take a little time to explain different scenarios that a customer may face.

What is proof of export ? Proof of export(PoE) is a document showing that the goods in question has been exported out of the country, this document is usually in the form customs entry done by your freight forwarder or the supplier that sold you the goods if they have the capacity to ship and declare the goods in the customs system as exported. Proof of export is usually required due the following transactions;

A business’s services as an international trader, importer, or exporter depend on the medium of transportation it chooses for smooth, quick, efficient, and profitable operations. However, businesses new to the idea of interstate or intercity transport often struggle to choose between air and sea freight for their companies.

Today we have several ways to transport goods from wherever we are to different corners of the world. From the north pole to the south pole, it only takes a few days, thanks to advancements in technology.

Our Air freight customers usually go mad when they are charged by volume as against the dead weight of an item. Unfortunately most freight forwarders cannot help with this and why is this? This is because the airline will charge the dead weight or volume weight , whichever is higher.

Take for instance , you have a little van that makes a journey of 20 miles and fits 40 boxes weighing 300kg in total, then you have a van that makes the same journey with 20 boxes that filled the van and weighing 150kg. Assume your billing is in kg and billed at £1/kg x 300kg, you will be looking at £300 for the trip and the other van will be looking at £150 for the same trip. If the cost of running the service will cost about £200 to execute and the profit is £100 at 300kg, then obviously the other van with £150 bill wont be able to make the trip or would be at serious loss. This system also applies to airline billing .

The airline will calculate the length as L X W x H / 6000 = Volumetric weight.  Let us  examine the following ;

Well here we are again, it has been a while since we penned something on MDS Cargo but we promise to be consistent these days. Over the years we have seen how handling have become a serious hassle with the increment of customers and which also comes with increment in the amount of goods to be handled. Most cargo businesses operate a storage and handling department which will oversee the correct and appropraite handling of customers goods. The problem here is the extra burden given to handlers by customers by being careless with their own goods, by having no clue on how to put their goods together for shipment. These problems cuts accross all types of customers male, female, old and young. With this in mind we have come up with the following advice for customers.

1. Treat your goods as if you are the shipping agent yourself - Ask yourself one question? How would you like your receiver to receive the goods? Your answer should be 'Well packed and intact'.