Tyre And Rim Importation Business In Nigeria: What You Must Know
If you are planning to invest in importation of new tyres and alloy rims on a large scale, you need to make findings on government policies as regards this business. The last research I made showed me that only importation of 'used tires' is under ban. Another thing I discovered is that Michelin, Dunlop and some other major tyre companies are no longer operating in the country. Major tyre distributors now import these brands from the production plants of the tyre company located abroad.
Recent findings showed that re-threaded tyres are also prohibited for importation. The policy reads, "Rethreaded and used Pneumatic tyres but excluding used trucks tyres for rethreading of sized 11.00 x 20 and above 4012.2010.00."
Go over to the official website of Nigerian Customs to check the prohibition list.
Also note that you need approval from Standard Organization Of Nigeria SON before importing tires. If you fail to acquire a SONCAP license/certificate, you will be fined heavily.
For the importation of new tires, there is no restrictions. China and Dubai are popular places where you can get tyres to import into Nigeria. The only downside about Dubai is the import is more expensive and trippling the tyres (rolling three or more into one) is against SON regulations.
Before you start investing in tyre import business, it is important that you carry out extensive market survey. You need to build a network of tyre dealers, suppliers, buyers and sellers.