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Nigeria - Number of New Business Registrations and Bankruptcies 136,961

World Bank WDI · updated 2026-10-15 · 183 economies tracked

Latest value

136,961 (2022)

Global rank

##12 of 183 economies

vs global median

11.7×

Growth since 2006

3.97×

Ranking Race — Number of New Business Registrations and Bankruptcies

1 = global #1 · higher value ranks higher

#1#4#7#10#13#16#1920062011201620212024#21#122020 overtook Spain2021 overtook Canada
NigeriaBrazilUnited KingdomSouth AfricaAustralia

Real annual global ranks, 2006 - 2024. Nigeria climbed from #21 to #12 (overtook Spain). Gaps in a lane = missing data that year.

Key events for Nigeria ↓

Key Events — Nigeria

Auto-detected from rank data + curated milestones

2016
Oil price recession curated

First recession in 25 years as crude prices collapse.

2020
Overtook Spain in global rank auto
2020
COVID-19 oil shock curated

Dual pandemic and oil shock push GDP down.

2021
Overtook Canada in global rank auto
2023
Fuel subsidy removal curated

Petrol subsidy cut and currency reforms spark inflation.

Number of New Business Registrations and Bankruptcies, 2006-2022

World Bank WDI · Number · linear scale · ranking in the race above
2006201120162021202234,53168,674102,818136,961

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