At the backdrop of rising export value in Nigeria’s foreign trade statistics a leading expert export consultancy, Mr Godwin Oyefeso, has advised Nigerian entrepreneurs who want to go into export to have documentation first, to legitimise the transactions.
He stated: “Anybody going into export must be fully registered, they must have export license, they must have a domiciliary account in the name of their company, and they should be able to have an effective email and an internet connection.
“Secondly, they should know the kind of product they want to do; they must get a buyer for the product, know the specification, the market is wide and a lot of people are looking for the products. So, basically you have to know what you need to do, and once you know what to do getting buyers will not be difficult.”
Oyefeso who is the Chief Executive of Success Edge International, organises training to support exporters regularly, harped on mitigation of risks associated with export business. According to him “fear of loss of money comes when you don’t do the right thing, when you do the right thing at the right time you don’t need to fear. We have a lot of government policies that backs the issue of export, there is what we call Cargo Defence Council, if you have a business and they don’t pay you they just go to Cargo Defence Council, once you have your documentation anywhere in the world they will sort it out for you.”
On the role consultants in enhancing Nigeria’s exports, Oyefeso stated: “We advice people when you are going into export business, don’t do it alone, have a mentor and a consultant that is important, so when there are issues, they will guide you on step-by-step on what to do, don’t just rush into the sector, though there are a lot of money in the business.
“Nigeria has a lot of products that are exportable. Nigeria is regarded as the 38 biggest exporter in the world with a lot of commodities, over 117 items, to 95 countries all over the world.
So the market is big, the market is there, the thing that we need to do is to put the right things in the right direction, so there will be no issues.
“Once that is done, there is no fear in export, once you do what is right you get the right result. Patience is also very important, you need to be patience, export is not MMM. And from what you hear people talked about while they go into export, you will know the sector is very okay.”