New businesses registered in Nigeria
Nigeria: New businesses registered was 136,961 number in 2022. ▲ Rising
New businesses registered in Nigeria, 2006–2022
Source: Entrepreneurship Database, World Bank (WB). Measured in number.
Analysis
In 2022, new businesses registered in Nigeria stood at 136,961 number. That is the highest value across all 17 years on record.
Compared with earlier readings it is up 5.4% on the previous year and up 68.8% over ten years.
Over the whole period, new businesses registered in Nigeria peaked at 136,961 number in 2022 and was at its lowest, 34,531 number, in 2006.
That places Nigeria 12th out of 177 countries with data for 2022, putting it in the top 10%.
The long-run direction has been consistently rising across the 17 years of available data.
New businesses registered in Nigeria, year by year
| Year | number | Change |
|---|---|---|
| 2006 | 34,531 number | — |
| 2007 | 46,240 number | +33.9% |
| 2008 | 64,017 number | +38.4% |
| 2009 | 65,089 number | +1.7% |
| 2010 | 65,074 number | -0.0% |
| 2011 | 72,396 number | +11.3% |
| 2012 | 81,144 number | +12.1% |
| 2013 | 74,391 number | -8.3% |
| 2014 | 71,941 number | -3.3% |
| 2015 | 70,441 number | -2.1% |
| 2016 | 75,380 number | +7.0% |
| 2017 | 78,540 number | +4.2% |
| 2018 | 86,309 number | +9.9% |
| 2019 | 90,748 number | +5.1% |
| 2020 | 97,988 number | +8.0% |
| 2021 | 129,980 number | +32.6% |
| 2022 | 136,961 number | +5.4% |
Nigeria compared with similar countries
- Nigeria's 136,961 number is above the median for lower middle income countries, which is 5,646 number, 24.3× the median. (42 countries reporting)
- Nigeria's 136,961 number is above the median for Sub-Saharan Africa, which is 5,522 number, 24.8× the median. (43 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 52,469 number | 34,531 number | 65,089 number | 4 |
| 2010s | 76,636 number | 65,074 number | 90,748 number | 10 |
| 2020s | 121,643 number | 97,988 number | 136,961 number | 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 new businesses registered in Nigeria?
- New businesses registered in Nigeria was 136,961 number in 2022, according to Entrepreneurship Database, World Bank (WB).
- What is the highest new businesses registered recorded in Nigeria?
- The highest recorded value was 136,961 number in 2022.
- What is the lowest new businesses registered recorded in Nigeria?
- The lowest recorded value was 34,531 number in 2006.
- How does Nigeria rank for new businesses registered?
- Nigeria ranks 12th out of 177 countries with data for 2022.
- Is new businesses registered rising or falling in Nigeria?
- Over the last ten years it is up 68.8%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Entrepreneurship Database, World Bank (WB), published as part of New businesses registered (number). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 17 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.