The agricultural and wholesale or retail sectors accounted for the largest proportions of informal micro enterprises (MEs) operating in Nigeria in 2020. In that year, the number of wholesale MEs reached approximately 12.8 million, while for the agricultural sector the count reached around 14.8 million. Compared to 2017, MEs in the country reduced in number. Most micro businesses in Nigeria received an initial startup funding of less than 50,000 Nigerian naira (corresponding to 120 U.S. dollars) as of 2020.
Number of informal micro enterprises (MEs) in Nigeria in 2017 and 2020, by sector
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.
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Small and Medium Enterprise Development Agency of Nigeria. (August 13, 2021). Number of informal micro enterprises (MEs) in Nigeria in 2017 and 2020, by sector [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1299780/number-of-informal-micro-enterprises-in-nigeria-by-sector/
Small and Medium Enterprise Development Agency of Nigeria. "Number of informal micro enterprises (MEs) in Nigeria in 2017 and 2020, by sector." Chart. August 13, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1299780/number-of-informal-micro-enterprises-in-nigeria-by-sector/
Small and Medium Enterprise Development Agency of Nigeria. (2021). Number of informal micro enterprises (MEs) in Nigeria in 2017 and 2020, by sector. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1299780/number-of-informal-micro-enterprises-in-nigeria-by-sector/
Small and Medium Enterprise Development Agency of Nigeria. "Number of Informal Micro Enterprises (Mes) in Nigeria in 2017 and 2020, by Sector." Statista, Statista Inc., 13 Aug 2021, https://www.statista.com/statistics/1299780/number-of-informal-micro-enterprises-in-nigeria-by-sector/
Small and Medium Enterprise Development Agency of Nigeria, Number of informal micro enterprises (MEs) in Nigeria in 2017 and 2020, by sector Statista, https://www.statista.com/statistics/1299780/number-of-informal-micro-enterprises-in-nigeria-by-sector/ (last visited November 21, 2024)
Number of informal micro enterprises (MEs) in Nigeria in 2017 and 2020, by sector [Graph], Small and Medium Enterprise Development Agency of Nigeria, August 13, 2021. [Online]. Available: https://www.statista.com/statistics/1299780/number-of-informal-micro-enterprises-in-nigeria-by-sector/
