Range of initial startup capital received by micro enterprises in Nigeria 2020
In 2020, the majority of micro-enterprises (MEs) in Nigeria - over 17.7 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, around 740,000 micro-enterprises in the country each secured an initial startup capital of one million NGN (roughly 2,405 U.S. dollars) or higher.