Small and medium-sized enterprises (SMEs) in Nigeria 2017, by source of capital

Personal savings represented the highest source of capital among small and medium-sized enterprises (SMEs) in Nigeria in 2017. In that year, 55.6 percent of SMEs in the country obtained funding from this source. Moreover, 17.5 percent and 11.7 percent of them obtained capital from loans and families, respectively. The source defines small enterprises as those employing between 10 and 49 people, and medium enterprises as those with an employment size from 50 to 199 employees.