Guidelines for imports into Nigeria have been modified. To implement this policy, the Nigerian government recently reviewed its contracts with preshipment inspection agents. Two of the former agents, Cotecna International Limited and SGS Ltd., were dropped and three retained. The IDR stipulates the required amount of duty, based upon the CIF value of the imported goods. This increases the price paid by the consignee and ultimately the consumer.
Advertising plays a significant role in marketing products and services in the Nigerian market.
Agents and distributors of foreign suppliers and manufacturers usually expect promotional support such as subsidies and brochures to participate in trade shows. Although a visit by a non-exhibiting U.S. exporter to an international Nigerian trade fair can help identify a potential agent or distributor, it is not required to penetrate the Nigerian market. Additionally, it is an important source of information on the Nigerian market, and a useful medium in which to advertise products and services to the trade. African Technical Review of Business and Technology is another publication to consult or to consider as an advertising medium. This monthly magazine, with a circulation of 25,000, is an excellent source of information regarding technological development in African markets, and has a representative in the U.S. to help with inquiries from American businesses.