Nigeria: Cost of starting a business

* indicates monthly or quarterly data series
 Nigeria

Cost of starting a business, % of income per capita

 Latest value 26.10
 Year 2019
 Measure percent of per capita GNI
 Data availability 2013 - 2019
 Average 33.93
 Min - Max 26.10 - 58.70
 Source The World Bank
The latest value from 2019 is 26.1 percent of per capita GNI, a decline from 27.6 percent of per capita GNI in 2018. In comparison, the world average is 19.87 percent of per capita GNI, based on data from 185 countries. Historically, the average for Nigeria from 2013 to 2019 is 33.93 percent of per capita GNI. The minimum value, 26.1 percent of per capita GNI, was reached in 2019 while the maximum of 58.7 percent of per capita GNI was recorded in 2013. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Nigeria - Cost of starting a business - Recent values chart




Definition: The indicator includes all official fees and fees for legal or professional services if such services are required by law. The company law, the commercial code, and specific regulations and fee schedules are used as sources for calculating costs. The indicator excludes bribes.

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 Related indicators Latest Reference Measure
 Rule of law -0.91 2022 points
 Government effectiveness -1.04 2022 points
 Control of corruption -1.10 2022 points
 Regulatory quality -1.16 2022 points
 Voice and accountability -0.60 2022 points
 Political stability -1.80 2022 points
 Corruption perceptions - Transparency International 25 2023 points
 Political rights 4 2024 points
 Civil liberties 5 2024 points
 Competitiveness 47.50 2018 points
 Cost of starting a business 26.10 2019 percent of per capita GNI
 Shadow economy 52.49 2015 percent
 Informal economy, MIMIC method 56.90 2020 percent
 Informal economy, DGE method 54.90 2020 percent
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