Who regulates the export/import industry in Nigeria
following is a list of organizations that regulates the import and export of goods in Nigeria. As far as the export/import industry is concerned, you will necessarily have to deal with these agencies, amongst others, depending on the goods you are importing.
List of Major government agencies that regulate import and exp\ort:
Nigeria Customs Service (NCS)
This independent customs agency, which is supervised by the Nigerian Ministry of Finance, is in charge of collecting customs revenues, facilitating both domestic and foreign trade, and conducting anti-smuggling operations.
Central Bank of Nigeria
Regulates the maximum amount that firms can pay to foreign suppliers, and keeps track of the commodities that enter and leave the federation using the rules that have been set with the banks.
To keep track of the commodities entering and leaving the nation, the CBN collaborates closely with other regulatory organizations including the Nigerian Customs Service (NCS), Federal Airport Authority of Nigeria (FAAN), and Nigerian Port Authority (NPA), among others. This not only regulates but also enables them to monitor the trade industry’s entire economic effects.
Nigerian Ports Authority (NPA)
The Nigerian ports are governed and run by this federal government organization. Tin Can Island Port Complex and Lagos Port Complex, both in Lagos State, are significant ports. the Calabar port complex in Cross River state.
Rivers State is home to the Delta Ports at Warri, Onne Port Complex, Rivers Port Complex, and Delta State. The Federal Ministry of Transportation is in charge of overseeing its operations.
Additionally, they work along with other governmental organizations. The main office of the Nigerian Ports Authority is situated at 26/28 Marina in Lagos, Nigeria.
Federal Airport Authority of Nigeria (FAAN)
This agency is tasked by law with managing all of Nigeria’s commercial airports and serving both passenger and freight aircraft. In Ikeja, Lagos State, the agency’s main office is situated on the grounds of Murtala Muhammed International Airport.
The main procedures for importing goods into Nigeria from China can be compared to those in other nations virtually exactly. Despite the fact that some of its processes are overseen by different organizations.