A vendor in Nigeria should possess the following credentials:
1. Tax Identification Number (TIN): A vendor needs a legitimate TIN that was given to them by the Federal Inland Revenue Service (FIRS). In Nigeria, this guarantees adherence to tax laws and regulations.
2. Registration of the Vendor's Business Name: The Nigerian Corporate Affairs Commission (CAC) requires that the Vendor register their business name. This displays credibility and legal recognition.
3. Registration with Government agency for Vendors: Depending on the nature of the vendor's business, registration with the appropriate government agency may be necessary. The Nigerian National Petroleum Corporation (NNPC) or the Department of Petroleum Resources (DPR), for instance, may require vendors that work in the oil and gas industry to register.
4.Vendors are required to abide by all health and safety rules established by the appropriate authorities. This can entail getting a fire safety certificate, upholding sanitary standards, and putting safety measures in place on their property.
5. Licences and Permits: In order to conduct business legally in Nigeria, some vendors may need particular licences or permits. For instance, the National Agency for Food and Drug Administration and Control (NAFDAC) may require food vendors to have a Food Handler's Permit.