Construction Materials: Pay Nigeria Suppliers Fast
Import building materials, construction supplies, and infrastructure products Send NGN payments to Nigeria suppliers with t+0 (2.3s avg within unicorn network). Save 87% vs traditional banks.
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
- ✓ T+0 (2.3s avg within Unicorn network)
- ✓ Transparent pricing
- ✓ NIBSS Instant Payment (NIP) available
- ✓ 0.14s automated compliance
At £400k-£3M monthly volume, save £42,420/year
Common Challenges: Construction Materials in 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 Unicorn Solves Construction Materials Payment Challenges in Nigeria
Fast Settlement: T+0 (2.3s avg within Unicorn network)
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.
Construction Materials Payment Profile
Understanding the payment dynamics of Construction Materials when paying Nigeria suppliers
⏱ 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
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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