The currency conversion rate was as of March 29, 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.
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Range of initial startup capital received by micro enterprises in Nigeria 2020
In 2020, the majority of micro-enterprises (MEs) in Nigeria - over **** million - each received an initial startup funding that was less than * Nigerian naira (NGN), equivalent to roughly *** U.S. dollars. In contrast, around ** micro-enterprises in the country each secured an initial startup capital of * NGN (roughly U.S. dollars) or higher.
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Small and Medium Enterprise Development Agency of Nigeria. (August 13, 2021). Range of the initial startup capital secured by micro enterprises (MEs) in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 20, 2026, from /statistics/1299517/initial-micro-enterprise-startup-capital-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. "Range of the initial startup capital secured by micro enterprises (MEs) in Nigeria in 2020 (in 1,000 Nigerian naira)." Chart. August 13, 2021. ÌÇÐÄÆƽâ°æ. Accessed July 20, 2026. /statistics/1299517/initial-micro-enterprise-startup-capital-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. (2021). Range of the initial startup capital secured by micro enterprises (MEs) in Nigeria in 2020 (in 1,000 Nigerian naira). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 20, 2026. /statistics/1299517/initial-micro-enterprise-startup-capital-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. "Range of The Initial Startup Capital Secured by Micro Enterprises (Mes) in Nigeria in 2020 (in 1,000 Nigerian Naira)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 13 Aug 2021, /statistics/1299517/initial-micro-enterprise-startup-capital-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria, Range of the initial startup capital secured by micro enterprises (MEs) in Nigeria in 2020 (in 1,000 Nigerian naira) ÌÇÐÄÆƽâ°æ, /statistics/1299517/initial-micro-enterprise-startup-capital-in-nigeria/ (last visited July 20, 2026)
Range of the initial startup capital secured by micro enterprises (MEs) in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph], Small and Medium Enterprise Development Agency of Nigeria, August 13, 2021. [Online]. Available: /statistics/1299517/initial-micro-enterprise-startup-capital-in-nigeria/
