Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises

Nigeria accounts for nearly one-fourth of Sub-Saharan Africa s population and is the seventh most populous country in the world. As of April 2014 it is recognized as the continent s largest economy. Ranking 13th in the world for its oil production,...

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Main Author: World Bank
Format: Report
Language:English
en_US
Published: Washington, DC 2015
Subjects:
Online Access:http://documents.worldbank.org/curated/en/2014/09/24381925/doing-business-nigeria-2014-understanding-business-regulations-small-medium-size-enterprises-comparing-business-regulations-domestic-firmsbrin-35-states-abuja-fct-188-other-economies-doing-business-nigeria-2014-understanding-business-regulations-small-medium-size-enterprises-comparing-business-regulations-domestic-firms-35-states-abuja-fct-188-other-economies
http://hdl.handle.net/10986/21970
id okr-10986-21970
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ACCESS TO SERVICES
ACCOUNT
ACCOUNTANT
ACCOUNTANTS
ACQUISITION
ACTION PLANS
ARREARS
AUDITED ACCOUNTS
BANK LOAN
BANKRUPTCY
BANKRUPTCY LAW
BANKRUPTCY LAWS
BILLS
BORROWER
BUSINESS ENTRY
BUSINESS ENVIRONMENT
BUSINESS INDICATOR
BUSINESS INDICATORS
BUSINESS OPERATIONS
BUSINESS REGISTRATION
BUSINESS REGULATION
BUSINESS REGULATIONS
BUSINESSES
BUYER
BUYERS
CADASTRE
CAPITAL GAINS
CENTRAL BANK
CERTIFICATE
CERTIFICATES
CHECKS
COLLATERAL
COLLATERAL AGREEMENT
COLLATERAL AGREEMENTS
COLLATERAL FOR LOANS
COLLATERAL LAW
COLLATERAL LAWS
COLLATERAL REGISTRY
COMMERCIAL ACTIVITIES
COMMERCIAL BANK
COMMERCIAL BUSINESS
COMPANY LAWS
COMPETITIVENESS
COMPLIANCE COSTS
CONFIRMATION OF RECEIPT
CONTRACTORS
CREDIT HISTORY
CREDIT INFORMATION
CREDIT INFORMATION SYSTEM
CREDIT INFORMATION SYSTEMS
CREDIT SOURCE
CREDITORS
DEBTOR
DEBTS
DEED
DEEDS
DEFAULTS
DEPOSIT
DERIVATIVE
DISCLOSURE REQUIREMENTS
DISTRIBUTION NETWORK
DOMAIN
E-MAIL
ELECTRICITY
EMAIL ADDRESSES
EPAYMENT
EQUIPMENT
FINANCIAL HISTORY
FINANCIAL INSTITUTION
FINANCIAL INSTITUTIONS
FINANCIAL RESOURCES
GOOD PRACTICE
IDENTIFICATION NUMBER
IMMOVABLE PROPERTY
IMPACT ASSESSMENT
INCOME TAX
INFORMATION SHARING
INFORMATION SYSTEM
INFORMATION SYSTEMS
INSPECTION
INSPECTIONS
INSTALLATION
INSTALLATIONS
INSURANCE
INSURANCE POLICY
INTERNAL PROCESS
INTERNATIONAL BANK
INTERNATIONAL FINANCE
INVESTOR PROTECTION
INVESTOR PROTECTIONS
ISSUANCE
LAND OWNERSHIP
LEGAL RIGHTS
LENDER
LENDERS
LENDING DECISIONS
LEVY
LICENSE
LICENSES
LIENS
LIMITED LIABILITY
LOCAL BUSINESS
MACROECONOMIC CONDITIONS
MATERIAL
MINIMUM CAPITAL REQUIREMENT
MINIMUM CAPITAL REQUIREMENTS
MINORITY INVESTORS
MINORITY SHAREHOLDER
MINORITY SHAREHOLDER PROTECTIONS
MINORITY SHAREHOLDERS
MORTGAGE
MORTGAGES
MOVABLE ASSETS
MOVABLE COLLATERAL
NEW MARKETS
NOTARIES
NOTARY
NOTARY PUBLIC
ONE-STOP SHOP
ONLINE TRANSACTION
OPTIMAL SIZE
ORIGINAL ASSETS
OVERHEAD
PERSONAL ASSETS
PERSONAL INCOME
POSSESSORY SECURITY
PRIVATE CREDIT
PRIVATE CREDIT BUREAU
PRIVATE CREDIT BUREAUS
PRIVATE PROPERTY
PRIVATE SECTOR
PRIVATE SECTOR CREDIT
PROCUREMENT
PROPERTY RIGHTS
PUBLIC REGISTRY
PURCHASING
QUERIES
QUERY
REGISTRATION FEE
REGISTRATION FEES
REGISTRATION PROCESS
REGISTRIES
REGISTRY
REGULATORY ENVIRONMENT
REGULATORY REQUIREMENTS
REPAYMENT
RESERVE
RESULT
RETURN
SALES
SALES AGREEMENT
SEARCH
SECURITIES
SECURITIES REGULATIONS
SECURITY INTEREST
SELLING
SERVICE PROVIDERS
SHAREHOLDER
SHAREHOLDERS
STAMP DUTIES
STAMP DUTY
STOCK EXCHANGE
SUPERVISION
TAX IDENTIFICATION NUMBER
TECHNICAL STANDARDS
TELEPHONE
TELEPHONE LINE
TRADE CREDITORS
TRADING
TRANSACTIONS SYSTEM
TRANSLATION
TRANSPARENCY
TURNOVER
USERS
USES
VERIFICATION
WAREHOUSE
WAREHOUSES
spellingShingle ACCESS TO SERVICES
ACCOUNT
ACCOUNTANT
ACCOUNTANTS
ACQUISITION
ACTION PLANS
ARREARS
AUDITED ACCOUNTS
BANK LOAN
BANKRUPTCY
BANKRUPTCY LAW
BANKRUPTCY LAWS
BILLS
BORROWER
BUSINESS ENTRY
BUSINESS ENVIRONMENT
BUSINESS INDICATOR
BUSINESS INDICATORS
BUSINESS OPERATIONS
BUSINESS REGISTRATION
BUSINESS REGULATION
BUSINESS REGULATIONS
BUSINESSES
BUYER
BUYERS
CADASTRE
CAPITAL GAINS
CENTRAL BANK
CERTIFICATE
CERTIFICATES
CHECKS
COLLATERAL
COLLATERAL AGREEMENT
COLLATERAL AGREEMENTS
COLLATERAL FOR LOANS
COLLATERAL LAW
COLLATERAL LAWS
COLLATERAL REGISTRY
COMMERCIAL ACTIVITIES
COMMERCIAL BANK
COMMERCIAL BUSINESS
COMPANY LAWS
COMPETITIVENESS
COMPLIANCE COSTS
CONFIRMATION OF RECEIPT
CONTRACTORS
CREDIT HISTORY
CREDIT INFORMATION
CREDIT INFORMATION SYSTEM
CREDIT INFORMATION SYSTEMS
CREDIT SOURCE
CREDITORS
DEBTOR
DEBTS
DEED
DEEDS
DEFAULTS
DEPOSIT
DERIVATIVE
DISCLOSURE REQUIREMENTS
DISTRIBUTION NETWORK
DOMAIN
E-MAIL
ELECTRICITY
EMAIL ADDRESSES
EPAYMENT
EQUIPMENT
FINANCIAL HISTORY
FINANCIAL INSTITUTION
FINANCIAL INSTITUTIONS
FINANCIAL RESOURCES
GOOD PRACTICE
IDENTIFICATION NUMBER
IMMOVABLE PROPERTY
IMPACT ASSESSMENT
INCOME TAX
INFORMATION SHARING
INFORMATION SYSTEM
INFORMATION SYSTEMS
INSPECTION
INSPECTIONS
INSTALLATION
INSTALLATIONS
INSURANCE
INSURANCE POLICY
INTERNAL PROCESS
INTERNATIONAL BANK
INTERNATIONAL FINANCE
INVESTOR PROTECTION
INVESTOR PROTECTIONS
ISSUANCE
LAND OWNERSHIP
LEGAL RIGHTS
LENDER
LENDERS
LENDING DECISIONS
LEVY
LICENSE
LICENSES
LIENS
LIMITED LIABILITY
LOCAL BUSINESS
MACROECONOMIC CONDITIONS
MATERIAL
MINIMUM CAPITAL REQUIREMENT
MINIMUM CAPITAL REQUIREMENTS
MINORITY INVESTORS
MINORITY SHAREHOLDER
MINORITY SHAREHOLDER PROTECTIONS
MINORITY SHAREHOLDERS
MORTGAGE
MORTGAGES
MOVABLE ASSETS
MOVABLE COLLATERAL
NEW MARKETS
NOTARIES
NOTARY
NOTARY PUBLIC
ONE-STOP SHOP
ONLINE TRANSACTION
OPTIMAL SIZE
ORIGINAL ASSETS
OVERHEAD
PERSONAL ASSETS
PERSONAL INCOME
POSSESSORY SECURITY
PRIVATE CREDIT
PRIVATE CREDIT BUREAU
PRIVATE CREDIT BUREAUS
PRIVATE PROPERTY
PRIVATE SECTOR
PRIVATE SECTOR CREDIT
PROCUREMENT
PROPERTY RIGHTS
PUBLIC REGISTRY
PURCHASING
QUERIES
QUERY
REGISTRATION FEE
REGISTRATION FEES
REGISTRATION PROCESS
REGISTRIES
REGISTRY
REGULATORY ENVIRONMENT
REGULATORY REQUIREMENTS
REPAYMENT
RESERVE
RESULT
RETURN
SALES
SALES AGREEMENT
SEARCH
SECURITIES
SECURITIES REGULATIONS
SECURITY INTEREST
SELLING
SERVICE PROVIDERS
SHAREHOLDER
SHAREHOLDERS
STAMP DUTIES
STAMP DUTY
STOCK EXCHANGE
SUPERVISION
TAX IDENTIFICATION NUMBER
TECHNICAL STANDARDS
TELEPHONE
TELEPHONE LINE
TRADE CREDITORS
TRADING
TRANSACTIONS SYSTEM
TRANSLATION
TRANSPARENCY
TURNOVER
USERS
USES
VERIFICATION
WAREHOUSE
WAREHOUSES
World Bank
Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises
geographic_facet Africa
Nigeria
description Nigeria accounts for nearly one-fourth of Sub-Saharan Africa s population and is the seventh most populous country in the world. As of April 2014 it is recognized as the continent s largest economy. Ranking 13th in the world for its oil production, Nigeria is Africa s largest producer and holds the second highest proven oil reserves on the continent, after Libya.3 Since embarking on the path of democracy in 1999, the country has enjoyed consistent and high economic growth rates, in the range of 6-8 percent annually in recent years. With its large reserves of human capital and natural resources, a large domestic market, and strong economic fundamentals, Nigeria is well positioned to join the group of large emerging markets and be the continent s powerhouse. Nigeria has already been identified as one of the promising MINT economies (an acronym for Mexico, Indonesia, Nigeria and Turkey), following the BRICs on the path to develop rapidly. Creating jobs to improve the well-being of all Nigerians, regardless of their personal circumstances and location, is a key component of the country s development agenda set out in Vision 20:2020. Good governance and effective institutions at the federal and state levels are critical to strengthening a business climate that encourages inclusive growth. Nigeria s 36 states and Abuja, Federal Capital Territory (FCT) operates with a high degree of autonomy. Without commensurate reforms by state governments, the macroeconomic and institutional reforms of the federal government cannot produce the desired impact to create employment and reduce poverty.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises
title_short Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises
title_full Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises
title_fullStr Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises
title_full_unstemmed Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises
title_sort doing business in nigeria 2014 : understanding business regulations for small and medium-size enterprises
publisher Washington, DC
publishDate 2015
url http://documents.worldbank.org/curated/en/2014/09/24381925/doing-business-nigeria-2014-understanding-business-regulations-small-medium-size-enterprises-comparing-business-regulations-domestic-firmsbrin-35-states-abuja-fct-188-other-economies-doing-business-nigeria-2014-understanding-business-regulations-small-medium-size-enterprises-comparing-business-regulations-domestic-firms-35-states-abuja-fct-188-other-economies
http://hdl.handle.net/10986/21970
_version_ 1764449564198174720
spelling okr-10986-219702021-04-23T14:04:05Z Doing Business in Nigeria 2014 : Understanding Business Regulations for Small and Medium-Size Enterprises World Bank ACCESS TO SERVICES ACCOUNT ACCOUNTANT ACCOUNTANTS ACQUISITION ACTION PLANS ARREARS AUDITED ACCOUNTS BANK LOAN BANKRUPTCY BANKRUPTCY LAW BANKRUPTCY LAWS BILLS BORROWER BUSINESS ENTRY BUSINESS ENVIRONMENT BUSINESS INDICATOR BUSINESS INDICATORS BUSINESS OPERATIONS BUSINESS REGISTRATION BUSINESS REGULATION BUSINESS REGULATIONS BUSINESSES BUYER BUYERS CADASTRE CAPITAL GAINS CENTRAL BANK CERTIFICATE CERTIFICATES CHECKS COLLATERAL COLLATERAL AGREEMENT COLLATERAL AGREEMENTS COLLATERAL FOR LOANS COLLATERAL LAW COLLATERAL LAWS COLLATERAL REGISTRY COMMERCIAL ACTIVITIES COMMERCIAL BANK COMMERCIAL BUSINESS COMPANY LAWS COMPETITIVENESS COMPLIANCE COSTS CONFIRMATION OF RECEIPT CONTRACTORS CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT INFORMATION SYSTEMS CREDIT SOURCE CREDITORS DEBTOR DEBTS DEED DEEDS DEFAULTS DEPOSIT DERIVATIVE DISCLOSURE REQUIREMENTS DISTRIBUTION NETWORK DOMAIN E-MAIL ELECTRICITY EMAIL ADDRESSES EPAYMENT EQUIPMENT FINANCIAL HISTORY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL RESOURCES GOOD PRACTICE IDENTIFICATION NUMBER IMMOVABLE PROPERTY IMPACT ASSESSMENT INCOME TAX INFORMATION SHARING INFORMATION SYSTEM INFORMATION SYSTEMS INSPECTION INSPECTIONS INSTALLATION INSTALLATIONS INSURANCE INSURANCE POLICY INTERNAL PROCESS INTERNATIONAL BANK INTERNATIONAL FINANCE INVESTOR PROTECTION INVESTOR PROTECTIONS ISSUANCE LAND OWNERSHIP LEGAL RIGHTS LENDER LENDERS LENDING DECISIONS LEVY LICENSE LICENSES LIENS LIMITED LIABILITY LOCAL BUSINESS MACROECONOMIC CONDITIONS MATERIAL MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MINORITY INVESTORS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTIONS MINORITY SHAREHOLDERS MORTGAGE MORTGAGES MOVABLE ASSETS MOVABLE COLLATERAL NEW MARKETS NOTARIES NOTARY NOTARY PUBLIC ONE-STOP SHOP ONLINE TRANSACTION OPTIMAL SIZE ORIGINAL ASSETS OVERHEAD PERSONAL ASSETS PERSONAL INCOME POSSESSORY SECURITY PRIVATE CREDIT PRIVATE CREDIT BUREAU PRIVATE CREDIT BUREAUS PRIVATE PROPERTY PRIVATE SECTOR PRIVATE SECTOR CREDIT PROCUREMENT PROPERTY RIGHTS PUBLIC REGISTRY PURCHASING QUERIES QUERY REGISTRATION FEE REGISTRATION FEES REGISTRATION PROCESS REGISTRIES REGISTRY REGULATORY ENVIRONMENT REGULATORY REQUIREMENTS REPAYMENT RESERVE RESULT RETURN SALES SALES AGREEMENT SEARCH SECURITIES SECURITIES REGULATIONS SECURITY INTEREST SELLING SERVICE PROVIDERS SHAREHOLDER SHAREHOLDERS STAMP DUTIES STAMP DUTY STOCK EXCHANGE SUPERVISION TAX IDENTIFICATION NUMBER TECHNICAL STANDARDS TELEPHONE TELEPHONE LINE TRADE CREDITORS TRADING TRANSACTIONS SYSTEM TRANSLATION TRANSPARENCY TURNOVER USERS USES VERIFICATION WAREHOUSE WAREHOUSES Nigeria accounts for nearly one-fourth of Sub-Saharan Africa s population and is the seventh most populous country in the world. As of April 2014 it is recognized as the continent s largest economy. Ranking 13th in the world for its oil production, Nigeria is Africa s largest producer and holds the second highest proven oil reserves on the continent, after Libya.3 Since embarking on the path of democracy in 1999, the country has enjoyed consistent and high economic growth rates, in the range of 6-8 percent annually in recent years. With its large reserves of human capital and natural resources, a large domestic market, and strong economic fundamentals, Nigeria is well positioned to join the group of large emerging markets and be the continent s powerhouse. Nigeria has already been identified as one of the promising MINT economies (an acronym for Mexico, Indonesia, Nigeria and Turkey), following the BRICs on the path to develop rapidly. Creating jobs to improve the well-being of all Nigerians, regardless of their personal circumstances and location, is a key component of the country s development agenda set out in Vision 20:2020. Good governance and effective institutions at the federal and state levels are critical to strengthening a business climate that encourages inclusive growth. Nigeria s 36 states and Abuja, Federal Capital Territory (FCT) operates with a high degree of autonomy. Without commensurate reforms by state governments, the macroeconomic and institutional reforms of the federal government cannot produce the desired impact to create employment and reduce poverty. 2015-05-21T18:39:06Z 2015-05-21T18:39:06Z 2014-09 Report http://documents.worldbank.org/curated/en/2014/09/24381925/doing-business-nigeria-2014-understanding-business-regulations-small-medium-size-enterprises-comparing-business-regulations-domestic-firmsbrin-35-states-abuja-fct-188-other-economies-doing-business-nigeria-2014-understanding-business-regulations-small-medium-size-enterprises-comparing-business-regulations-domestic-firms-35-states-abuja-fct-188-other-economies http://hdl.handle.net/10986/21970 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Publications & Research Publications & Research :: Working Paper Africa Nigeria