Without correct knowledge of what the Nigeria Export Promotion Council (NEPC) stands for, and its function, going into exportation business would be as good as impossible, a venture to attempt.
We deem it appropriate to begin from the most important part in order to determine for you how best to go about your importation business. Or at least, you’ll have little or no difficulty taking care of your exportation business, yourself.
So, therefore, we would like you to read this post to the end and bear in mind, all adequate information about the Nigerian Export Promotion Council (NEPC).
In this post, we put together some key functions of NEPC, a governmental body for exportation business. There might be more, please use the comment box to express your opinion on the subject matter. And if you need help with other information about our services, we are more than ready to work with you.
What NEPC Stands For in Exportation Business
The Nigerian Export Promotion Council (NEPC) is the government agency responsible for regulation, promotion, recording and monitoring of export trade in the country. It is the organ which the government uses to implement its export policies and strategies. NEPC is usually in charge of distribution and redistributing incentives when new exportation policies and incentives for exportation are given out by the government.
The NEPC was established in and has its offices across Nigeria. Established as a service unit to offer funding and support to indigenous manufacturing companies and other companies. Most especially the companies that produce exportable products so that they can get their products into the export market easily.
They make it easier for exporters to access the foreign market, identify products that can be exported, understand standardization, specifications and packaging requirements.
Related: Essential Tips on Exportation
The governmental body became even more active under the democratic dispensation. As an exporter, there are several ways through which the NEPC can help and protect your export business.
Some of this include-:
1. Provide a list of Exportable Products: If you are just considering going into export business but you are unsure of what to export; you can visit the NEPC’s website. There, you would find a long list of products that you can export and the countries you can export to.
You may also check out these lists of items that are exportable from Nigeria to other parts of the world. However, if you need to see an export business expert, get in touch with Bowa Gate Global Limited. If you have an existing business, you can also find out where you can start exporting your products through the NEPC.
2. They Provide Technical Support to Exporters in the following areas:
- Ensure proper documentation of export transactions: Proper documentation is very important in exportation because it shows proof and provides a legal basis for transactions. The NEPC would let you know which documents you need, how to get them, the need for those documents as well as the places to send the documents to.
- Business Registration: Before you can carry out exportation business; you have to register with the NEPC. This registration is beneficial for you because the NEPC maintains a database of all Nigerian exporters that overseas buyers can use to find legitimate suppliers. That opens ups another avenue for buyers to reach you and buy products from you.
- Quality and Standards: The NEPC also monitors the quality and standards of products goings out to ensure that they are of high quality. Payment -: The agency also helps you suggest the best and most secure payment methods.
3. Bring Exporters together: The NEPC also creates an avenue for exporters to come together under one umbrella to relate and discuss issues related to export promotion and development. It makes it easier for exporters to network with one another.
4. Provides information on product sourcing: If you are unsure of where to get particular products for export, you can ask the NEPC for help. They would be able to give you information on where to find the products you are looking for in Nigeria.
5. They Administer Grants and Incentives: If you are registered with the NEPC, then you can easily access some of the grants and incentives that the government doles out regularly to help exporters in the country. Exporters of agricultural products receive a lot of incentives from the government regularly.
6. They also help to simplify the export procedure: If you are new into exportation, it’s easy to get confused and misunderstand the procedure; a visit to the office of the Nigeria Export Promotion Council would help to enlighten you and put things in perspective. The NEPC can assist you such that you don’t have to go through some so-called ‘export gurus’ who charge you thousands just to train you on how to start an exportation business.
7. They Organize Trade Fairs and Exhibitions: The NEPC also helps to organize and facilitate the participation of Nigerians in international trade fairs and exhibition events. If you are registered with the Nigeria Export Promotion Council and have a solid or innovative product; the NEPC can facilitate your participation in trade fairs and exhibition programs.
8. They Carry out research and studies: The NEPC also carries out regular studies and research into matters concerning exporters and factors that may affect/influence exportation in Nigeria. As an exporter, you can benefit greatly from such research and studies.
9. They Create Awareness and Publicity: The NEPC also does a lot of local and international advertisements and promotions which is also directly beneficial to you as an exporter.
10. Help to Solve Problems: If at any point in your export business you encounter some challenges or problems; the NEPC is your go-to agency for complaints and solutions to your challenges. If you want to find out if a company/overseas buyer is legitimate or not; you can contact the Nigeria Export Promotion Council who would help you investigate through the buying country’s embassy.
11. They Provide Financial Support: Lastly, you can get financial support through the NEPC; although the NEPC might not be able to give you direct loans, they can provide useful information on where to get loans easily for your export business. They may also be able to guarantee a loan for you.
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The roles exportation plays in boosting a nation’s economy and its importance cannot be over-emphasized. The functions of the Nigeria Exportation Promotion Council (NEPC) are great values to exporters. There is a great need to be acquainted with its functions. These functions apply to both new and experienced exporters in Nigeria.
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