New business density — all countries

New business density — Nigeria

New business density in Nigeria in 2022 — 1.12 per 1,000. Ranked 108 in the world out of 154. Since 2006, the indicator has risen by 154.7%.

2022 1.12 per 1,000 +2.39% vs 2021
World rank 108of 154
Period maximum 1.12 per 1,0002022
Period minimum 0.44 per 1,0002006

Trend over time

2006–2022 · per 1,000 people aged 15–64

New business density — Nigeria, 2006–20220.40.60.811.22006200820102012201420162018202020222006: 0.44 per 1,0002007: 0.57 per 1,0002008: 0.77 per 1,0002009: 0.76 per 1,0002010: 0.74 per 1,0002011: 0.8 per 1,0002012: 0.88 per 1,0002013: 0.78 per 1,0002014: 0.74 per 1,0002015: 0.7 per 1,0002016: 0.73 per 1,0002017: 0.74 per 1,0002018: 0.79 per 1,0002019: 0.81 per 1,0002020: 0.84 per 1,0002021: 1.09 per 1,0002022: 1.12 per 1,000
Change over the period: +0.68 (+154.67%) Average annual rate: 6.02 %

Comparison, 2022

How the value compares with the world and the groups this territory belongs to: Nigeria

Nigeria 1.12 per 1,000
World 4.89 per 1,000
Sub-Saharan Africa 1.86 per 1,000
Western Africa computed 1.53 per 1,000
Lower-middle-income countries computed 0.57 per 1,000
New business density — Nigeria, by year Nigeria All countries CSV XLSX
Year per 1,000 Change Change, %
2022 1.12 +0.03 +2.39%
2021 1.09 +0.24 +28.89%
2020 0.84 +0.04 +4.93%
2019 0.81 +0.02 +2.21%
2018 0.79 +0.05 +6.77%
2017 0.74 +0.01 +1.19%
2016 0.73 +0.03 +4.04%
2015 0.7 −0.03 −4.72%
2014 0.74 −0.05 −5.92%
2013 0.78 −0.09 −10.82%
2012 0.88 +0.07 +9.03%
2011 0.8 +0.06 +8.24%
2010 0.74 −0.02 −2.67%
2009 0.76 −0.01 −0.96%
2008 0.77 +0.2 +34.88%
2007 0.57 +0.13 +30.48%
2006 0.44

About the indicator

The number of newly registered limited liability companies per 1,000 people of working age (15–64) over a year. It is an indicator of entrepreneurial activity and of the ease of entering a market. Only limited liability companies are counted, so in countries where sole proprietorships dominate the figure is understated.

Important: The aggregate is weighted by the population aged 15–64 — the same denominator that stands in the indicator. Only new limited liability companies are counted, so where other legal forms are common the value is understated.

Source: World Development Indicators (World Bank), license CC BY 4.0.