More than 90% of businesses in Nigeria are SMEs, which will shape the country's long-term growth if obstacles they face can be overcome. SMEs in Nigeria spend over 956 hours annually filing taxes in Lagos, compared to a 310 hour Africa average, and only 2% of adults received loans from financial institutions last year. Additionally, 50% of Nigeria's population lacks access to the national power grid and internet access through mobile networks needs improved quality, especially in rural areas.

1. Corporate
Affairs
Commission
TAX NATIONAL BANK
ATM
NATIONAL
GRID
Big
Business
More than 90 percent of businesses in Nigeria are SMEs.Their productivity will shape the country's
long-term growth, economic diversification and prosperity.What obstacles are they facing?
COMMUNICATIONS
NETWORKS
82%
TAXING BUSINESSTAXING BUSINESS
hours annually are taken
in filing taxes in Lagos
compared to the Africa average of 310
956
LIMITED ACCESS
TO FINANCE
2% of the adult population
received loans from a
financial institution in the past year
POOR POWER
SUPPLY
50% of the country’s total
population does not
have access to national grid electricity
of mobile users access
the internet daily, but
network quality needs to be
improved - especially in rural regions
Sources: Economist Intelligence Unit, World Bank, IMF, Ericsson, KPMG
Commissioned by:
NIGERIAN SMEs
FEELING EVERY BUMP