Closing a business, recovery rate in Nigeria
Nigeria: Closing a business, recovery rate was 28.2 cents on the dollar in 2012. ▲ Rising
Closing a business, recovery rate in Nigeria, 2003–2012
Source: World Bank, Doing Business project (http://www.doingbusiness.org/). Measured in cents on the dollar.
Analysis
In 2012, closing a business, recovery rate in Nigeria stood at 28.2 cents on the dollar. That is the highest value across all 10 years on record.
That represents a change of up 10.2% over ten years.
Over the whole period, closing a business, recovery rate in Nigeria peaked at 28.2 cents on the dollar in 2011 and was at its lowest, 25.6 cents on the dollar, in 2003.
That places Nigeria 18th out of 46 countries with data for 2012, putting it in the middle of the range.
Closing a business, recovery rate in Nigeria, year by year
| Year | cents on the dollar | Change |
|---|---|---|
| 2003 | 25.6 cents on the dollar | — |
| 2004 | 26.1 cents on the dollar | +2.0% |
| 2005 | 26.8 cents on the dollar | +2.7% |
| 2006 | 27.9 cents on the dollar | +4.1% |
| 2007 | 27.5 cents on the dollar | -1.4% |
| 2008 | 28 cents on the dollar | +1.8% |
| 2009 | 28 cents on the dollar | +0.0% |
| 2010 | 26.8 cents on the dollar | -4.3% |
| 2011 | 28.2 cents on the dollar | +5.2% |
| 2012 | 28.2 cents on the dollar | +0.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 27.13 cents on the dollar | 25.6 cents on the dollar | 28 cents on the dollar | 7 |
| 2010s | 27.73 cents on the dollar | 26.8 cents on the dollar | 28.2 cents on the dollar | 3 |
Countries ranked near Nigeria
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, recovery rate in Nigeria?
- Closing a business, recovery rate in Nigeria was 28.2 cents on the dollar in 2012, according to World Bank, Doing Business project (http://www.doingbusiness.org/).
- What is the highest closing a business, recovery rate recorded in Nigeria?
- The highest recorded value was 28.2 cents on the dollar in 2011.
- What is the lowest closing a business, recovery rate recorded in Nigeria?
- The lowest recorded value was 25.6 cents on the dollar in 2003.
- How does Nigeria rank for closing a business, recovery rate?
- Nigeria ranks 18th out of 46 countries with data for 2012.
- Is closing a business, recovery rate rising or falling in Nigeria?
- Over the last ten years it is up 10.2%. The long-run trend across the full record is rising.
- 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, recovery rate (cents on the dollar). Statizoid updates them automatically from the source API.
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About this data
The recovery rate is recorded as cents on the dollar recouped by creditors through the bankruptcy or insolvency proceedings. The calculation takes into account whether the business emerges from the proceedings as a going concern as well as costs and the loss in value due to the time spent closing down. If the business keeps operating, no value is lost on the initial claim, set at 100 cents on the dollar. If it does not, the initial 100 cents on the dollar are reduced to 70 cents on the dollar. Then the official costs of the insolvency procedure are deducted (1 cent for each percentage of the initial value). Finally, the value lost as a result of the time the money remains tied up in insolvency proceedings is taken into account, including the loss of value due to depreciation of the hotel furniture. Consistent with international accounting practice, the depreciation rate for furniture is taken to be 20%. The furniture is assumed to account for a quarter of the total value of assets. The recovery rate is the present value of the remaining proceeds, based on end-2006 lending rates from the International Monetary Fund’s International Financial Statistics, supplemented with data from central banks. For more information, visit http://www.doingbusiness.org/MethodologySurveys/.