In 2020, the majority of micro enterprises (MEs) in the agricultural sector in Nigeria - over 7.9 million - each received an initial startup funding that was less than 50,000 Nigerian naira (NGN), equivalent to roughly 120 U.S. dollars. In contrast, 39,785 MEs in the same sector each secured an initial startup capital between 901,000 NGN and one million NGN (roughly 2,167 to 2,405 U.S. dollars).
Initial startup capital received by micro enterprises (MEs) in the agricultural sector in Nigeria in 2020
(in 1,000 Nigerian naira)
Value of capital in thousand Nigerian naira
Number of funded micro enterprises
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Exclusive Premium Statistic
To access all Premium Statistics, you need a paid Statista Account
The currency conversion rate was as of March 30, 2022.
According to the source, the survey was conducted across 36 states of the Nigerian Federation and the Federal Capital Territory, Abuja. It adds that, 400 households with micro-enterprises per state were surveyed, alongside nationwide SMEs which cut across 16 economic sectors.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Small and Medium Enterprise Development Agency of Nigeria. (August 13, 2021). Initial startup capital received by micro enterprises (MEs) in the agricultural sector in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1299594/number-of-agricultural-micro-enterprises-in-nigeria-by-initial-startup-capital-received/
Small and Medium Enterprise Development Agency of Nigeria. "Initial startup capital received by micro enterprises (MEs) in the agricultural sector in Nigeria in 2020 (in 1,000 Nigerian naira)." Chart. August 13, 2021. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1299594/number-of-agricultural-micro-enterprises-in-nigeria-by-initial-startup-capital-received/
Small and Medium Enterprise Development Agency of Nigeria. (2021). Initial startup capital received by micro enterprises (MEs) in the agricultural sector in Nigeria in 2020 (in 1,000 Nigerian naira). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1299594/number-of-agricultural-micro-enterprises-in-nigeria-by-initial-startup-capital-received/
Small and Medium Enterprise Development Agency of Nigeria. "Initial Startup Capital Received by Micro Enterprises (Mes) in The Agricultural Sector in Nigeria in 2020 (in 1,000 Nigerian Naira)." Statista, Statista Inc., 13 Aug 2021, https://www.statista.com/statistics/1299594/number-of-agricultural-micro-enterprises-in-nigeria-by-initial-startup-capital-received/
Small and Medium Enterprise Development Agency of Nigeria, Initial startup capital received by micro enterprises (MEs) in the agricultural sector in Nigeria in 2020 (in 1,000 Nigerian naira) Statista, https://www.statista.com/statistics/1299594/number-of-agricultural-micro-enterprises-in-nigeria-by-initial-startup-capital-received/ (last visited July 22, 2024)
Initial startup capital received by micro enterprises (MEs) in the agricultural sector in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph], Small and Medium Enterprise Development Agency of Nigeria, August 13, 2021. [Online]. Available: https://www.statista.com/statistics/1299594/number-of-agricultural-micro-enterprises-in-nigeria-by-initial-startup-capital-received/
