Ease of Doing Business in


Nigeria Download Profile (2051.3KB, pdf)
Region Sub-Saharan Africa
Income Category Lower middle income
Population 182,201,962
GNI Per Capita (US$) 2,820
City covered Lagos, Kano



DB 2017 Rank



DB 2017 DTF (% points)

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Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 169 170 up
44.63 44.02 down
Starting a Business 138 137 down
78.62 77.19 up
Dealing with Construction Permits 174 173 down
49.63 49.61 up
Getting Electricity 180 182 up
29.43 29.38 up
Registering Property 182 182
31.44 31.43 up
Getting Credit 44 60 up
65.00 60.00 up
Protecting Minority Investors 32 30 down
65.00 65.00
Paying Taxes 182 182
28.09 28.43 down
Trading across Borders 181 181
19.93 19.93
Enforcing Contracts 139 139
48.59 48.59
Resolving Insolvency 140 139 down
30.60 30.68 down

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

Viewing the data for

DB 2017 DTF (% points):


DB 2016 DTF (% points):


Change in DTF (% points):


Legal form Private Limited Liability Company
Paid-in minimum capital requirement NGN 0
City Lagos
Indicator Lagos Sub-Saharan Africa OECD high income
Procedure – Men (number) info_outline 8 7.8 4.8
Time – Men (days) info_outline 24 27.3 8.3
Cost – Men (% of income per capita) info_outline 30.6 54.0 3.1
Procedure – Women (number) info_outline 8 7.9 4.8
Time – Women (days) info_outline 24 27.5 8.3
Cost – Women (% of income per capita) info_outline 30.6 54.1 3.1
Paid-in min. capital (% of income per capita) info_outline 0 33.1 9.2
  • No. Procedure Time to Complete Associated Costs

    Reserve a unique company name

    Agency: Corporate Affairs Commission

    The Corporate Affairs Commission (CAC) online system was launched on February 2nd, 2015. This platform enables online unique name reservation as well as enabling filing the incorporation forms for the entire registration process.

    Applicants can to go to the CAC branch office in Lagos (either in Yaba or Alausa) to complete this procedure with the CAC accredited professionals, where the business founders submit Form CAC 1: Availability Check and Reservation of Name. Alternatively, they can complete the process online at: http://services.cac.gov.ng/.

    2 days NGN 500 application form

    Prepare the requisite incorporation documents and pay the stamp duty

    Agency: Federal Inland Revenue Service

    To prepare the requisite incorporation documents, the business founders must complete the statutory forms, prepare and print the memorandum and articles of association, and have them stamped by the Federal Inland Revenue Service (FIRS).

    The stamp duty payable on share capital (ad valorem) is 0.75% and NGN 500 for each additional copy of Memorandum and Articles of Association stamped.

    7 days 0.75% stamp duty paid on share capital + NGN 500 for each additional copy of Memorandum and Articles of Association stamped (2 copies)

    Sign the declaration of compliance (Form CAC 4) before a Commissioner for Oaths or a Notary Public

    Agency: Notary Public

    The declaration by the barrister or solicitor engaged in the formation of the company may be sworn to before a Notary Public for a fee of NGN 4,000 - NGN 5,000 or at any of the recognized courts in the country (Magistrate Court, the State High Court, or the Federal High Court) before a Commissioner for Oaths for a small fee of NGN 500 usually chargeable by the respective courts.

    1 day NGN 500 at the court or NGN 4,000 - NGN 5,000 with a Notary Public

    Register the company and pay fees

    Agency: Corporate Affairs Commission

    To register the company with the Corporate Affairs Commission (CAC), the following incorporation documents are submitted:
    • Form CAC 1: Availability Check and Reservation of Name.
    • Memorandum and articles of association, stamped by the commissioner for stamp duties (2 copies).
    • Form CAC 3: Notice of registered address.
    • Form CAC 4: Declaration of compliance.
    • Form CAC 7: Particulars of directors.
    • Form CAC 2: Statement of share capital and return of allotment of shares.
    • Form CAC 2.1: Particulars of the company secretary.

    Incorporation fees are:
    • Incorporation fees for a company whose share capital exceeds NGN 1,000,000.00 are NGN 10,000.00 for the first NGN 1,000,000.00 and NGN 5,000.00 for every additional NGN 1,000,000.00 or any part thereof.
    • NGN 500 incorporation forms.
    • 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.
    • NGN 2,000 for certified true copy of particulars of the company secretary.

    The payment of registration fees can be made at the bank desk at the CAC. The payment of statutory filing fees can now be processed online through Remita, an electronic payment platform. Upon making relevant payments online, the applicant is still required to verify these payments at the CAC in person.

    10 days see procedure details

    Make a company seal

    Agency: Sealmaker

    Section 74 of the Companies and Allied Matters Act (CAMA) requires every company to have a common seal.

    1 day NGN 4,000 - NGN 6,000

    Register for income tax and VAT

    Agency: Federal Inland Revenue Service

    The Federal Inland Revenue Service (FIRS) requires the applicant to complete tax registration forms for corporate income tax registration as well as VAT.

    The registration process requires submitting a completed tax office–issued application (taxpayer registration input form, TRIF/2006/001 COYS) and the following documents:
    • Completed FIRS questionnaire.
    • Memorandum and articles of association (copy).
    • Certificate of incorporation (copy).
    • Directors’ names and addresses.
    • Tax advisor’s name and address.
    • Letter of appointment of a tax adviser and corresponding letter of acceptance.
    • The date the company commenced business;
    • Names, addresses and mobile numbers of major promoters and the chairman of the company, including their email addresses;
    • Other sources of income of the chairman and the promoters of the company;
    • Name and addresses of the principal officers of the company including the chairman, managing director, legal adviser and accountant;

    To register, the company must submit the taxpayer registration input form in duplicate, and the original certificate of incorporation must be presented for review by the controller. Upon the completed taxpayer registration input form and all other documents being received, a tax reference number is allocated.

    1 day no charge
    * 7

    Register for personal income tax PAYE at the State Tax Office

    Agency: State Tax Office

    All employers shall register with the relevant state tax authority for income tax withholding.

    The PAYE Regulations of 2003 made pursuant to the Personal Income Tax Act provides that all employers are to register with the Lagos State Board of Internal Revenue Tax Office nearest to the registered company address for the purpose of remitting income tax deducted from their employees. The employer must within 6 months of commencing a business deduct tax from emoluments of employees and remit the amount deducted to any of the designated collecting banks.

    The registration requirements are as follows:
    1. A copy of certificate of incorporation.
    2. List of staff and their annual salaries.
    3. Letter of application for registration.
    4. Corporate income tax and VAT tax reference number.

    Upon completion of registration, an Employer's Identification Number will be issued.

    An employer who fails or refuses to register commits an offence and is liable on conviction to pay a NGN 25,000 fine in addition to the payment of arrears of the tax due.

    2 days (simultaneous with previous procedure) no charge
    * 8

    Register business premises with the Lagos State Government and pay the business premises levy

    Agency: Bank

    To register the company premises with the Lagos State Government, the entrepreneur heads to any nationalized commercial bank with some evidence of the business premises (utility bills, etc.) and pays the business premise levy to the account of the Lagos Inland Revenue Services (LIRS). The bank then issues a receipt bearing the Lagos State Government logo.

    Business premises in an urban area of Nigeria are required to be registered on the payment of a NGN 10,000 registration fee in the first year of registration (NGN 5,000 per annum as renewal registration fees in the subsequent years).

    For rural areas, the business premises registration fees is NGN 2,000 for the first year of registration (NGN 1,000 per annum as registration renewal fees for the subsequently years).

    1 day (simultaneous with previous procedure) NGN 10,000

    * Takes place simultaneously with previous procedure.