Nigeria: Business freedom index (0-100): For that indicator, The Heritage Foundation provides data for Nigeria from 1995 to 2017. The average value for Nigeria during that period was 54 points with a minumum of 48 points in 2014 and a maximum of 59 points in 2007. See the global rankings for that indicator or use the country comparator to compare trends over time.
The Business Freedom index for Nigeria from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Nigeria in the regulatory process.
Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).