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.
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Startup capital received by MEs in accommodation and food services in Nigeria 2020
In 2020, most micro enterprises (MEs) within the accommodation and food service sector in Nigeria - over ** - received an initial startup funding that was less than * Nigerian naira (NGN), equivalent to roughly *** U.S. dollars. In contrast, MEs in the same sector each secured an initial startup capital between ** NGN and * NGN (roughly between and U.S. dollars).
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Small and Medium Enterprise Development Agency of Nigeria. (August 13, 2021). Initial startup capital secured by micro enterprises (MEs) in accommodation and food services in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 01, 2026, from /statistics/1299645/initial-startup-capital-among-mes-in-accommodation-and-food-services-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. "Initial startup capital secured by micro enterprises (MEs) in accommodation and food services in Nigeria in 2020 (in 1,000 Nigerian naira)." Chart. August 13, 2021. ÌÇÐÄÆƽâ°æ. Accessed August 01, 2026. /statistics/1299645/initial-startup-capital-among-mes-in-accommodation-and-food-services-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. (2021). Initial startup capital secured by micro enterprises (MEs) in accommodation and food services in Nigeria in 2020 (in 1,000 Nigerian naira). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 01, 2026. /statistics/1299645/initial-startup-capital-among-mes-in-accommodation-and-food-services-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. "Initial Startup Capital Secured by Micro Enterprises (Mes) in Accommodation and Food Services in Nigeria in 2020 (in 1,000 Nigerian Naira)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 13 Aug 2021, /statistics/1299645/initial-startup-capital-among-mes-in-accommodation-and-food-services-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria, Initial startup capital secured by micro enterprises (MEs) in accommodation and food services in Nigeria in 2020 (in 1,000 Nigerian naira) ÌÇÐÄÆƽâ°æ, /statistics/1299645/initial-startup-capital-among-mes-in-accommodation-and-food-services-in-nigeria/ (last visited August 01, 2026)
Initial startup capital secured by micro enterprises (MEs) in accommodation and food services in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph], Small and Medium Enterprise Development Agency of Nigeria, August 13, 2021. [Online]. Available: /statistics/1299645/initial-startup-capital-among-mes-in-accommodation-and-food-services-in-nigeria/
