{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"ng-new-business-registrations","url":"https://apiardata.com/statistics/ng-new-business-registrations","html_url":"https://apiardata.com/statistics/ng-new-business-registrations/","title":"Nigeria New Business Registrations (Number per Year) (2022)","description":"Nigeria's New Business Registrations (Number per Year): 136,961 number of registrations in 2022, +5.4% YoY. World Bank (IC.BUS.NREG), 2006–2022.","domain":"markets","category":"Financial Markets","keywords":["Financial Markets","World Bank","Nigeria","2022"],"publisher":"World Bank","frequency":"Annual","geography":"Nigeria","temporal_coverage":"2006/2022","unit":"number of registrations","last_updated":"2026-07-25","last_updated_text":"25 July 2026","data_as_of":"2022","variable_measured":"Nigeria New Business Registrations (Number per Year)","license":"https://apiardata.com/data-license","is_accessible_for_free":true,"sources":[{"name":"World Bank","url":"https://data.worldbank.org/indicator/IC.BUS.NREG?locations=NG"}],"meta":[{"label":"Frequency","value":"Annual"},{"label":"Coverage","value":"2006–2022"},{"label":"Observations","value":"17"},{"label":"Geography","value":"Nigeria"},{"label":"Last updated","value":"25 July 2026"}],"kpis":[{"label":"Nigeria (2022)","value":"136,961","unit":"number of registrations","trend":{"direction":"up","value":"+5.4% YoY"}},{"label":"YoY Change","value":"+5.4%","unit":"number of registrations"},{"label":"Trend","value":"up","unit":""},{"label":"Series length","value":"17","unit":"years of data"}],"series":[{"key":"value","label":"Nigeria New Business Registrations (Number per Year)"}],"observation_count":17,"observations":[{"period":"2006","value":34531},{"period":"2007","value":46240},{"period":"2008","value":64017},{"period":"2009","value":65089},{"period":"2010","value":65074},{"period":"2011","value":72396},{"period":"2012","value":81144},{"period":"2013","value":74391},{"period":"2014","value":71941},{"period":"2015","value":70441},{"period":"2016","value":75380},{"period":"2017","value":78540},{"period":"2018","value":86309},{"period":"2019","value":90748},{"period":"2020","value":97988},{"period":"2021","value":129980},{"period":"2022","value":136961}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"number of registrations"},{"key":"yoyChange","label":"YoY Change"}],"rows":[{"year":"2022","value":"136961.0","yoyChange":"+5.4%"},{"year":"2021","value":"129980.0","yoyChange":"+32.6%"},{"year":"2020","value":"97988.0","yoyChange":"+8.0%"},{"year":"2019","value":"90748.0","yoyChange":"+5.1%"},{"year":"2018","value":"86309.0","yoyChange":"+9.9%"},{"year":"2017","value":"78540.0","yoyChange":"+4.2%"},{"year":"2016","value":"75380.0","yoyChange":"+7.0%"},{"year":"2015","value":"70441.0","yoyChange":"-2.1%"},{"year":"2014","value":"71941.0","yoyChange":"-3.3%"},{"year":"2013","value":"74391.0","yoyChange":"-8.3%"},{"year":"2012","value":"81144.0","yoyChange":"+12.1%"},{"year":"2011","value":"72396.0","yoyChange":"+11.3%"},{"year":"2010","value":"65074.0","yoyChange":"unchanged"},{"year":"2009","value":"65089.0","yoyChange":"+1.7%"},{"year":"2008","value":"64017.0","yoyChange":"+38.4%"},{"year":"2007","value":"46240.0","yoyChange":"+33.9%"},{"year":"2006","value":"34531.0","yoyChange":"n/a"}]},"qa":[{"question":"What does this indicator measure?","answer":"This page tracks the number of new limited liability companies registered per year in Nigeria from 2006 to present. New business registrations are the primary proxy for startup formation and entrepreneurial activity in the formal economy. It is published by World Bank and updated annually."},{"question":"How current is this data?","answer":"The most recent observation covers 2022. World Bank typically publishes this series with a lag of several months after the reference period. The series runs 2006–2022 (17 observations)."},{"question":"What is the long-term trend?","answer":"The series peaked at 136,961 number of registrations in 2022 and reached its lowest recorded value of 34,531 in 2006. The latest reading of 136,961 in 2022 represents a change of +6,981."}]}