Nigeria flag Nigeria: Operating a Business in Nigeria

Starting a business in Nigeria

Legal Forms of Companies

Private Limited Company (PLC)
Number of partners: Minimum two, maximum 50
Capital (max/min): At least 10,000 NGN and not less than 25% of the authorize share capital must be taken by the subscribers
Shareholders and liability: Limited to the shares
Public Limited Company (LTD)
Number of partners: Minimum two, ma
Capital (max/min): At least 500,000 NGN and the subscribers must take up at least 25% of the authorized share capital
Shareholders and liability: Limited to the shares
Company limited by guarantee (LBG)
Number of partners: Minimum two (and maximum fifty for private companies)
Capital (max/min): At least 10,000 NGN
Shareholders and liability: Limited to the shares
Unlimited company (UNLTD)
Number of partners: Minimum two (and max fifty for private companies)
Capital (max/min): At least 10,000 NGN for private companies and 500,000 NGN for state-run companies
Shareholders and liability: Joint, several and non-limited liability of the members or shareholders

Business Setup Procedures

Setting Up a Company Nigeria Sub-Saharan Africa
Procedures (number) 7.0 7.5
Time (days) 7.2 21.3

Source: Doing Business - Latest available data.

 
The Competent Organisation
Corporate Affairs Commission (CAC)
For Further Information
Consult Doing Business Website, to know about procedures to start a Business in Nigeria.

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Latest Update: November 2022