Construction Materials — Pay Nigerian Suppliers Faster, Cheaper
Project timelines don't pause while your bank clears international payments.. And your bank makes it worse — 3-day settlements, 2-4% hidden FX spreads, and zero visibility into what your payments actually cost.
We built payment infrastructure for construction materials businesses. 0.5% spreads. Same-day NGN settlement. Free container tracking.
Get a Quote for Your Next Nigerian PaymentConstruction Materials margins are too thin to donate 2-4% to your bank on every supplier payment.
Before we show you a single number, know this: we are regulated, audited, and transparent. Our pricing is published. Our client funds are segregated. These aren't marketing claims — they're regulatory requirements we meet daily.
These aren't marketing claims — they're regulatory requirements we meet daily.
Save £3,535 per £100k Payment
Typical savings for Construction Materials paying Nigeria suppliers
- ❌ 2-3 day settlement
- ❌ Hidden FX margins
- ❌ High correspondent bank fees
- ❌ Manual compliance checks
- ✓ Settles in seconds — 2.3 second average
- ✓ Transparent pricing
- ✓ NIBSS Instant Payment (NIP) available
- ✓ 0.14s automated compliance
At £400k-£3M monthly volume, save £42,420/year
What Challenges Do Construction Materials Businesses Face Paying Nigeria?
Industry Pain Points
- Project-based demand (lumpy)
- Heavy/bulky goods (freight intensive)
- Weather-dependent delivery
- Credit terms for contractors
Country-Specific Considerations
- Central Bank of Nigeria (CBN) foreign exchange regulations
- Form M (Import documentation) required for imports
- Treasury Single Account (TSA) compliance for government payments
- SWIFT code verification critical for international transfers
How Do Construction Materials Businesses Typically Pay Nigerian Suppliers?
Fast Settlement: Settles in seconds — 2.3 second average
Use NIBSS Instant Payment (NIP) for instant NGN settlement. Nigeria's instant inter-bank payment system, 24/7 availability
Real-Time FX Exposure Tracking
Upload supplier invoices as PDFs. Our AI OCR extracts amounts and currencies. See exactly what waiting costs you in real-time. Lock rates for 15 seconds when you see a good rate.
0.14s Compliance Screening
Automated compliance checks for Nigeria regulations. Central Bank of Nigeria (CBN) foreign exchange regulations handled automatically.
How Construction Materials Businesses Typically Pay Nigerian Suppliers
If you're importing in this sector, you're likely dealing with a mix of payment terms. Here's how they work — and why speed matters.
⏱ Payment Timing
Project milestone payments. Net 30-45 for materials suppliers. Payment on delivery for bulk materials (concrete, aggregates).
📄 Invoice Terms
Net 30-45 (established suppliers), COD for bulk deliveries. Project retentions (5%) held 6-12 months. Credit lines for large contractors.
Project-based and weather-dependent. Construction season (Mar-Oct in UK). Large projects: payments spread over months. Retentions delay final settlement.
📊 FX Risk Profile
MODERATE: EUR (European materials), CNY (fixtures/tiles), TRY (marble). Project budgets set in GBP, FX swings affect margins. Hedge at tender stage.
Mix of long-term (major suppliers) and project-specific (specialist materials). Builders merchants for convenience, direct-import for bulk savings.
Common Documentation for Construction Materials
- Delivery Note (site-specific)
- CE/UKCA Marking Certificate
- Declaration of Performance (DoP)
- Test Certificates (concrete/steel)
- Environmental Product Declaration (EPD)
Popular Nigeria Supplier Types for Construction Materials
Common Nigeria Suppliers
- Oil & gas service providers (Lagos, Port Harcourt)
- Agricultural exporters (Kano, Kaduna)
- Manufacturing (Lagos, Ogun State)
- Construction materials (Lagos, Abuja)
Payment Tips for Nigeria
- Use NIP for instant settlement - avoid SWIFT delays
- Nigeria = Africa's largest economy, growing trade hub
- Multiple exchange rates exist - ensure you get interbank rate
- Oil & gas payments require enhanced due diligence
Frequently Asked Questions: Construction Materials Payments to Nigeria
How do Construction Materials businesses pay suppliers in Nigeria?
Construction Materials businesses can pay Nigeria suppliers instantly using Unicorn Currencies. We offer a 0.5% FX spread with 2.3-second average settlement using local payment rails like NIBSS Instant Payment (NIP). This is significantly faster and cheaper than traditional SWIFT transfers which take 2-3 days.
What banking details do I need for Nigeria Construction Materials suppliers?
To pay Construction Materials suppliers in Nigeria, you need the recipient's NUBAN (10-digit Nigerian Uniform Bank Account Number), account number, and beneficiary name. Our platform validates these details automatically to ensure successful payment delivery.
How much can Construction Materials businesses save on Nigeria payments?
Construction Materials businesses typically save 87% compared to traditional banks when paying Nigeria suppliers. On a £100k transaction, that's £3,535 in savings. With Unicorn Currencies, you pay just 0.5% FX spread + £5 per payment vs banks charging 4% spread + £40 fees.
Is container tracking available for Construction Materials shipments from Nigeria?
Yes, Unicorn Currencies offers FREE container tracking for Construction Materials shipments from Nigeria. You receive real-time visibility into your cargo, including demurrage alerts to help avoid costly port storage fees. This feature is included at no extra cost with your payment account.
What currencies do Construction Materials businesses typically use with Nigeria?
Construction Materials businesses typically convert GBP to NGN when paying Nigeria suppliers. Unicorn Currencies provides live exchange rates with a transparent 0.5% spread, and you can lock rates for 15 seconds when you see a favorable rate. Our AI-powered invoice OCR can automatically extract amounts and currencies from supplier invoices.
Ready to Pay Nigeria Suppliers 87% Cheaper?
Join Construction Materials businesses saving £3,535 per £100k payment with t+0 (2.3s avg within unicorn network).
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