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 micro enterprises in manufacturing in Nigeria 2020
In 2020, the majority of the micro-enterprises (MEs) within the manufacturing sector in Nigeria - nearly ** - each received an initial startup funding that was less than * Nigerian naira (NGN), equivalent to roughly *** U.S. dollars. In contrast, * micro-enterprises 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 funding secured by micro enterprises (MEs) in the manufacturing sector in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 31, 2026, from /statistics/1299654/initial-startup-capital-among-mes-in-manufacturing-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. "Initial startup funding secured by micro enterprises (MEs) in the manufacturing sector in Nigeria in 2020 (in 1,000 Nigerian naira)." Chart. August 13, 2021. ÌÇÐÄÆƽâ°æ. Accessed July 31, 2026. /statistics/1299654/initial-startup-capital-among-mes-in-manufacturing-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. (2021). Initial startup funding secured by micro enterprises (MEs) in the manufacturing sector in Nigeria in 2020 (in 1,000 Nigerian naira). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 31, 2026. /statistics/1299654/initial-startup-capital-among-mes-in-manufacturing-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria. "Initial Startup Funding Secured by Micro Enterprises (Mes) in The Manufacturing Sector in Nigeria in 2020 (in 1,000 Nigerian Naira)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 13 Aug 2021, /statistics/1299654/initial-startup-capital-among-mes-in-manufacturing-in-nigeria/
Small and Medium Enterprise Development Agency of Nigeria, Initial startup funding secured by micro enterprises (MEs) in the manufacturing sector in Nigeria in 2020 (in 1,000 Nigerian naira) ÌÇÐÄÆƽâ°æ, /statistics/1299654/initial-startup-capital-among-mes-in-manufacturing-in-nigeria/ (last visited July 31, 2026)
Initial startup funding secured by micro enterprises (MEs) in the manufacturing sector in Nigeria in 2020 (in 1,000 Nigerian naira) [Graph], Small and Medium Enterprise Development Agency of Nigeria, August 13, 2021. [Online]. Available: /statistics/1299654/initial-startup-capital-among-mes-in-manufacturing-in-nigeria/
