Nigeria - Ease of doing business

New business density (new registrations per 1,000 people ages 15-64)

New business density (new registrations per 1,000 people ages 15-64) in Nigeria was 0.884 as of 2020. Its highest value over the past 14 years was 0.915 in 2012, while its lowest value was 0.453 in 2006.

Definition: New businesses registered are the number of new limited liability corporations registered in the calendar year.

Source: World Bank's Entrepreneurship Survey and database (http://www.doingbusiness.org/data/exploretopics/entrepreneurship).

See also:

Year Value
2006 0.453
2007 0.592
2008 0.799
2009 0.792
2010 0.771
2011 0.837
2012 0.915
2013 0.817
2014 0.769
2015 0.732
2016 0.763
2017 0.773
2018 0.825
2019 0.843
2020 0.884

Time to obtain an electrical connection (days)

Definition: The average wait, in days, experienced to obtain an electrical connection from the day an establishment applies for it to the day it receives the service.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2007 7.50
2014 9.40

Power outages in firms in a typical month (number)

Definition: Power outages are the average number of power outages that establishments experience in a typical month.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2007 25.20
2014 32.80

Firms experiencing electrical outages (% of firms)

Definition: Percent of firms experiencing electrical outages during the previous fiscal year.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2007 95.60
2014 77.60

Time required to get electricity (days)

The value for Time required to get electricity (days) in Nigeria was 109.80 as of 2019. As the graph below shows, over the past 6 years this indicator reached a maximum value of 149.44 in 2017 and a minimum value of 109.80 in 2019.

Definition: Time required to get electricity is the number of days to obtain a permanent electricity connection. The measure captures the median duration that the electricity utility and experts indicate is necessary in practice, rather than required by law, to complete a procedure.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

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Year Value
2013 149.44
2014 149.44
2015 149.44
2016 149.44
2017 149.44
2018 115.33
2019 109.80

Firms that do not report all sales for tax purposes (% of firms)

Definition: Firms that do not report all sales for tax purposes are the percentage of firms that expressed that a typical firm reports less than 100 percent of sales for tax purposes; such firms are termed "informal firms."

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2007 68.00

Firms visited or required meetings with tax officials (% of firms)

Definition: Percent of firms that were visited or required to meet with tax officials.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2007 81.70
2014 68.80

Firms that spend on R&D (% of firms)

Definition: Percent of firms that spend on research and development.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2014 13.80

Firms experiencing losses due to theft and vandalism (% of firms)

Definition: Percent of firms experiencing losses due to theft, robbery, vandalism or arson that occurred on the establishment's premises.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2014 14.00

Firms expected to give gifts in meetings with tax officials (% of firms)

Definition: Firms expected to give gifts in meetings with tax officials is the percentage of firms that answered positively to the question "was a gift or informal payment expected or requested during a meeting with tax officials?"

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2007 22.90
2014 25.90

Labor tax and contributions (% of commercial profits)

Labor tax and contributions (% of commercial profits) in Nigeria was 13.50 as of 2019. Its highest value over the past 6 years was 13.50 in 2019, while its lowest value was 10.70 in 2013.

Definition: Labor tax and contributions is the amount of taxes and mandatory contributions on labor paid by the business.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

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Year Value
2013 10.70
2014 10.70
2015 12.10
2016 13.50
2017 13.50
2018 13.50
2019 13.50

Other taxes payable by businesses (% of commercial profits)

Other taxes payable by businesses (% of commercial profits) in Nigeria was 0.300 as of 2019. Its highest value over the past 6 years was 0.400 in 2016, while its lowest value was 0.300 in 2017.

Definition: Other taxes payable by businesses include the amounts paid for property taxes, turnover taxes, and other small taxes such as municipal fees and vehicle and fuel taxes.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

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Year Value
2013 0.400
2014 0.400
2015 0.400
2016 0.400
2017 0.300
2018 0.300
2019 0.300

Profit tax (% of commercial profits)

Profit tax (% of commercial profits) in Nigeria was 21.00 as of 2019. Its highest value over the past 6 years was 21.80 in 2014, while its lowest value was 20.90 in 2016.

Definition: Profit tax is the amount of taxes on profits paid by the business.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

See also:

Year Value
2013 21.80
2014 21.80
2015 21.40
2016 20.90
2017 21.00
2018 21.00
2019 21.00

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Business environment