AGOA, African Growth and Opportunity Act is a window of opportunity for export that was signed into law by the former U.S President Bill Clinton on May 18, 2000 to provide preferential duty-free entry for over 6, 400 products from approximately 140 developing countries, aimed at building free markets and increase foreign investments that promote economic growth, create jobs, and raise the African standard of living.
Nigeria is among the eligible sub-sahara African countries that were granted duty-free entry for several categories of exports under the AGOA generalized system of preferences program of the United States of America. This window of opportunity for export is open until September 30, 2015. Each year the U.S Presidency evaluates the sub-sahara African countries and determines which countries should remain eligible.
But how can you take advantage of this opportunity and start a thriving export business with the help of AGOA? Read on to find out how.
The United States and Nigeria have a joint economic partnership committee for regular dialogue on trade liberalization, transparency and other important issues.
Exportable products under AGOA
Nigeria’s top exports to the U.S include cocoa beans, feed/fodder (i.e. bran, bird seed), spices, tree nuts, dried fish fingerlings, fish fillet shrimps, cassava starch, palm kernel oil, ginger, cashew nut, shea butter, garlic, snail, palm kernel cake, cocoa butter, sesame seed, groundnuts, chili pepper, honey, mushroom, gum Arabic, fruit juice, sea foods, yam, yam flour, agricultural and forestry products, foot wear, fat and oil and preparations, leather articles, solid minerals, tobacco, beverages, assorted handicrafts, and aluminum products.
All you need to do is to choose three perfect product under AGOA, discover the money making potential of each one and use them as your keys to success.
These products are in high demand in the U.S and most of the exporting countries lack the type of preferences which Nigeria enjoys.
AGOA will help you fill the necessary forms; they will also provide logistics and make sure your product arrives the U.S without any hitches.
You can start your export business with little capital. Source for these products locally and sell to major exporters and start making your money without going through the rigors of company registration or NEPC (Nigerian Export Promotion Council) registration. The profit from the first transaction can be ploughed back and an investor should be able to build up his capital base to start exporting directly to the U.S.
The export business is highly profitable. Because of the low overhead cost, most of the money you make on commission is yours. But building a truly profitable business requires dedication and a good knowledge of the business which the Nigeria Export Promotion Council provides.
Not only does this Export Business require little financial investment to start, but it offers the prestige of working with clients from all over the world.
You can locate AGOA at 30, Lugard Avenue, Ikoyi, Lagos to start your export business.
No related posts.
June 5th, 2010|
@John Lyons
The article was not meant to show how easy is export business to the USA but a window of opportunity by AGOA to help Nigerians start export business. Export business i agree is not a joy ride, thats why i’ll advise every one going into it to do their due dilligence and get more information about it.
I find this article a little misleading. Some of what has been written is incorrect.
I am a Nigerian and I live in the USA so I can verify that export to the USA is not that easy.
I have interest in this kind of business but how do we get buyer contact at the united state? It is very important to get the buyer first.
Thanks 4 d article.Pls is fresh kolanut one of d exportable products to USA Under AGOA ?.Secondly,how can I get big time exporters in Lagos that can buy kolanut from me locally b4 venturing into export.Pls my Email is(sonafrab@yahoo.Com),my phone number is 08029483869.I will appreciate ur prompt response.
The article is quite informative. How can someone start this business for the first time without falling into 419 hand. Becos this is nigeria. I need proper guidian. Buyer contact and all formal and informal procedure at least the first transaction.
how do i get started
Hi,we re into palm karnel oil business.larg quantity buyers can contact us on..+2347034500874
i have the capital to start export trade but don’t know how to go about it
Am interested in selling the exportable produce
i am into sourcing of cashewnuts within the farmers association but i will be needing a good capital partnership to enhance the business developments
Keep up the good work bro.Your article is really great and I truly enjoyed reading it.Waiting for some more great articles like this from you in the coming days.
Pls what is the range of capital for starting the business
It wont cost you much to begin your export business in Nigeria. Contact AGOA on how you can get started.
I am interested inn this business but will need futher clarifications. It there a number you can be reached on. I don’t live in Lagos, so it will be worthwhile to have a phone discussion before making up my mind on whether to travell to your office. Do you also source for buyers or I have to do that myself.
Thanks
We are not into the Export Business but we can guide you into what you want to do. Get Our contact details at About Us Page.
Am interest in export business.
Want to know if there is market for nigeria foodstuff such as melon (Egusi) Ogbono, dry fish, garlic and bitter leave.
Await your respond.
Gloria
Yes there is a large market for those Products especially garlic. Follow the Guide and with proper research you will get the list of products you can export to the USA.
[...] Nigeria Small Business Iԁеаѕ Portal » Blog Archive » Hοw tο … [...]