Nigeria

Ease of Doing Business in

Nigeria

This page shows summary Doing Business 2012 data for Nigeria. The first table lists the overall "Ease of Doing Business" rank (out of 183 economies) and the rankings by each topic. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Sub-Saharan Africa
Income Category Lower middle income
Population 158,258,917
GNI Per Capita (US$) 1,180.00
Doing Business 2012 Rank Doing Business 2011 Rank Change in Rank
133 133 0
Topic Rankings DB 2012 Rank DB 2011 Rank Change in Rank
Starting a Business 116 108 up -8
Dealing with Construction Permits 84 83 up -1
Getting Electricity 176 176 No change
Registering Property 180 180 No change
Getting Credit 78 75 up -3
Protecting Investors 65 60 up -5
Paying Taxes 138 109 up -29
Trading Across Borders 149 149 No change
Enforcing Contracts 97 98 up 1
Resolving Insolvency 99 105 up 6

Economy Profile

2215.2 KB pdf file

Download Now

Subnational Data


Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2012 Rank 116 DB 2011 Rank 108 Change in Rank down-8
Indicator Nigeria Sub-Saharan Africa OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology
Procedures (number)
8 8 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

View methodology
Time (days)
34 37 12

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

View methodology
Cost (% of income per capita)
70.6 81.2 4.7

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology
Paid-in Min. Capital (% of income per capita)
0.0 129.8 14.1
No. Procedure Time to Complete Associated Costs
1 check the availability of company name with the Corporate Affairs Commission 5 days NGN 200 application form
2 Prepare the requisite incorporation documents and pay the stamp duty 7 days 0.75% stamp duty paid on capital
3 Notarize the declaration of compliance (CAC 4) 1 day NGN 500
4 Register the company with the Corporate Affairs Commission & pay fees at the bank desk at CAC 11 days NGN 59,592 legal fees +NGN 500 incorporation forms + NGN 20,000 Incorporation fees (an extra NGN 50,000 for same-day processing) + NGN 500 for each additional copy of Memorandum and NGN 500 for additional copy of the Articles of Association stamped + NGN 3,000 for certified true copy of memorandum and articles of association + NGN 2,000 for certified true copy of particulars of directors +NGN 2,000 for certified true copy of particulars of shareholders.
5 Register with the Federal Board of Inland Revenue Department of the Ministry of Finance for income tax and VAT 4 days no charge
* 6 Register for personal income tax PAYE at the State Tax Office 2 days, (simultaneous with previous procedure) no charge
* 7 Receive inspection from local government 7 days, (simultaneous with previous procedure) no charge
8 Pay fees at a designated bank 1 day NGN 18,500
* Takes place simultaneously with another procedure.

Explore Economy Data


- OR -

Close