New businesses registered — all countries

New businesses registered — Nigeria

New businesses registered in Nigeria in 2022 — 136,961 companies. Ranked 12 in the world out of 154. Since 2006, the indicator has risen by 296.6%.

2022 136,961 companies +5.37% vs 2021
World rank 12of 154
Period maximum 136,961 companies2022
Period minimum 34,531 companies2006

Trend over time

2006–2022 · companies

New businesses registered — Nigeria, 2006–2022050,000100,000150,0002006200820102012201420162018202020222006: 34,531 companies2007: 46,240 companies2008: 64,017 companies2009: 65,089 companies2010: 65,074 companies2011: 72,396 companies2012: 81,144 companies2013: 74,391 companies2014: 71,941 companies2015: 70,441 companies2016: 75,380 companies2017: 78,540 companies2018: 86,309 companies2019: 90,748 companies2020: 97,988 companies2021: 129,980 companies2022: 136,961 companies
Change over the period: +102,430 (+296.63%) Average annual rate: 8.99 %

Comparison, 2022

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

Nigeria 136,961 companies
World computed 6.87M companies
Sub-Saharan Africa computed 917,658 companies
Western Africa computed 235,192 companies
Lower-middle-income countries computed 927,740 companies
New businesses registered — Nigeria, by year Nigeria All countries CSV XLSX
Year companies Change Change, %
2022 136,961 +6,981 +5.37%
2021 129,980 +31,992 +32.65%
2020 97,988 +7,240 +7.98%
2019 90,748 +4,439 +5.14%
2018 86,309 +7,769 +9.89%
2017 78,540 +3,160 +4.19%
2016 75,380 +4,939 +7.01%
2015 70,441 −1,500 −2.09%
2014 71,941 −2,450 −3.29%
2013 74,391 −6,753 −8.32%
2012 81,144 +8,748 +12.08%
2011 72,396 +7,322 +11.25%
2010 65,074 −15 −0.02%
2009 65,089 +1,072 +1.67%
2008 64,017 +17,777 +38.45%
2007 46,240 +11,709 +33.91%
2006 34,531

About the indicator

The number of newly registered limited liability companies over a year. Only they are counted: sole proprietorships, partnerships and cooperatives do not enter, so in countries where small business prefers simpler legal forms the indicator understates entrepreneurial activity.

Important: Limited liability companies only. Registration is not the start of activity: some registered companies never begin to operate.

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