Closing a business, cost in Nigeria
Nigeria: Closing a business, cost was 22.0% in 2012. ▬ Flat
Closing a business, cost in Nigeria, 2003–2012
Source: World Bank, Doing Business project (http://www.doingbusiness.org/). Measured in % of estate.
Analysis
Nigeria recorded 22.0% for closing a business, cost in 2012. That is the highest value across all 10 years on record.
Compared with earlier readings it is unchanged over ten years.
Over the whole period, closing a business, cost in Nigeria peaked at 22.0% in 2003 and was at its lowest, 22.0%, in 2003.
Nigeria ranks 13th of 46 countries on this measure, in the middle of the range.
Closing a business, cost in Nigeria, year by year
| Year | % of estate | Change |
|---|---|---|
| 2003 | 22.0% | — |
| 2004 | 22.0% | +0.0% |
| 2005 | 22.0% | +0.0% |
| 2006 | 22.0% | +0.0% |
| 2007 | 22.0% | +0.0% |
| 2008 | 22.0% | +0.0% |
| 2009 | 22.0% | +0.0% |
| 2010 | 22.0% | +0.0% |
| 2011 | 22.0% | +0.0% |
| 2012 | 22.0% | +0.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 22.0% | 22.0% | 22.0% | 7 |
| 2010s | 22.0% | 22.0% | 22.0% | 3 |
Countries ranked near Nigeria
- 10 Congo, Democratic Republic of the 29.0% compare
- 11 Congo 25.0% compare
- 11 Malawi 25.0% compare
- 13 Angola 22.0% compare
- 13 Benin 22.0% compare
- 13 Egypt 22.0% compare
- 13 Ghana 22.0% compare
- 13 Kenya 22.0% compare
- 13 Sao Tome and Principe 22.0% compare
- 13 Tanzania, United Republic of 22.0% compare
- 13 Zimbabwe 22.0% compare
More private sector data for Nigeria
- Merchandise trade 33.3% (2025)
- Food imports 11.0% (2024)
- Manufactures imports 46.0% (2024)
- Merchandise imports 41.45 billion current US$ (2025)
- Food exports 6.0% (2024)
- Manufactures exports 3.5% (2024)
- Merchandise exports 55.47 billion current US$ (2025)
- Merchandise exports (current US$), per capita 233.52 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1907 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 4.03 % change on previous year (2025)
Frequently asked questions
- What is closing a business, cost in Nigeria?
- Closing a business, cost in Nigeria was 22.0% in 2012, according to World Bank, Doing Business project (http://www.doingbusiness.org/).
- What is the highest closing a business, cost recorded in Nigeria?
- The highest recorded value was 22.0% in 2003.
- What is the lowest closing a business, cost recorded in Nigeria?
- The lowest recorded value was 22.0% in 2003.
- How does Nigeria rank for closing a business, cost?
- Nigeria ranks 13th out of 46 countries with data for 2012.
- Is closing a business, cost rising or falling in Nigeria?
- Over the last ten years it is unchanged. The long-run trend across the full record is flat.
- Where does this Nigeria data come from?
- The figures come from World Bank, Doing Business project (http://www.doingbusiness.org/), published as part of Closing a business, cost (% of estate). Statizoid updates them automatically from the source API.
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About this data
The cost of the proceedings is recorded as a percentage of the estate’s value. The cost is calculated on the basis of survey responses by insolvency practitioners and includes court fees as well as fees of insolvency practitioners, independent assessors, lawyers and accountants. Respondents provide cost estimates from among the following options: less than 2%, 2–5%, 5–8%, 8–11%, 11–18%, 18–25%, 25–33%, 33–50%, 50–75% and more than 75% of the value of the business estate. This is the cost of the bankruptcy proceedings. For more information, visit http://www.doingbusiness.org/MethodologySurveys/.