{"id":"ng","country":"ng","kind":"country","name":{"en":"Nigeria","local":"Nigeria"},"languages":["en","pcm","yo","ha","ig"],"currency":"NGN","symbol":"₦","fxPerUsd":1333,"cities":{"T1":"Lagos","T2":"Ibadan","T3":"Ogbomoso"},"basket":{"teaCup":400,"simpleMeal":2000,"haircutMen":1500,"milkLitre":3200,"breadLoaf":1600,"unskilledDayWage":6000,"minWageMonthly":70000,"shopRentSqftMonth":{"T1":900,"T2":350,"T3":150},"electricityCommercialKwh":209.5,"lpgCommercialCylinder":16000,"petrolLitre":1400},"tax":{"salesTax":"VAT 7.5% (Nigerian Tax Act 2025, in force 1 Jan 2026)","smallBizThreshold":"Small company = turnover ≤ ₦50 million and fixed assets ≤ ₦250 million: 0% CIT, no development levy, exempt from VAT registration/charging. Individuals: first ₦800,000/yr of income tax-free","localLevies":"State and LGA levies (trade permit, signage, waste, market/park levies); Lagos Consumption tax on food outlets; informal 'agbero' collections"},"licences":[{"name":"CAC Business Name registration (sole trader)","fee":"≈ ₦21,400 (₦20,000 filing + ₦1,000 name reservation + charges); free under SMEDAN/CAC quota schemes","authority":"Corporate Affairs Commission","source":"https://selar.com/stoppayingagent"},{"name":"Private company (Ltd) incorporation","fee":"≈ ₦35,000–60,000 incl. stamp duty for ₦1m share capital (estimate)","authority":"Corporate Affairs Commission","source":"https://kolonell.com/en/blog/register-business-nigeria-cac-cost-timeline-2026"},{"name":"Tax ID (TIN) via JTB / Nigeria Revenue Service","fee":"Free","authority":"Joint Tax Board / NRS","source":"https://businessday.ng/?p=1172670"},{"name":"LGA trade/shop permit and signage permit","fee":"≈ ₦5,000–30,000/yr, varies by LGA (estimate)","authority":"Local Government Area revenue office","source":"Est.: LGA levies are set by state revenue laws; no national schedule"},{"name":"NAFDAC registration (packaged food/drink only)","fee":"₦100,000+ per product; small-scale relief scheme available (estimate)","authority":"NAFDAC","source":"Est.: NAFDAC tariff not re-checked for 2026"},{"name":"Food handlers' medical certificate / environmental health permit","fee":"≈ ₦5,000–15,000 per staff/yr (estimate)","authority":"State environmental health / LGA","source":"Est.: state practice, no 2026 schedule found"}],"festivals":[{"name":"Christmas and 'Detty December'","dates2026_27":"Dec 2026 (public holidays 25–26 Dec, 1 Jan 2027)","effect":"Biggest spending month: food, drinks, clothing, salons and tailors at peak; mass travel from Lagos to the East empties some markets late Dec"},{"name":"Eid al-Fitr (Sallah)","dates2026_27":"about 9–10 Mar 2027 (moon-dependent)","effect":"North: Ramadan daytime food sales collapse then spike for Sallah; tailoring and ram demand up"},{"name":"Easter","dates2026_27":"Good Friday 26 Mar – Easter Monday 29 Mar 2027","effect":"Four-day break; food and drinks demand up, offices shut"},{"name":"Eid al-Adha (Ileya / Babban Sallah)","dates2026_27":"about 16–17 May 2027","effect":"Ram/cattle prices spike; tailoring and food demand up"},{"name":"School resumption (Sep, Jan, Apr)","dates2026_27":"Jan 2027, Apr/May 2027, Sep 2027","effect":"Household cash goes to fees; discretionary spend dips for 2–3 weeks"}],"seasons":[{"months":"Apr–Oct","what":"Rainy season in the south: flooding in Lagos and riverine states disrupts street trade and supply"},{"months":"Nov–Feb","what":"Harmattan: dry dusty winds, lower humidity; good trading weather, more respiratory illness"},{"months":"Mar–Apr","what":"Hottest months, especially north; power demand peaks and outages worsen"}],"payments":{"digitalShare":"Bank transfers and POS cards dominate urban trade; cash still large in markets and rural areas (estimate 50–70% of small-shop value via transfer/POS in cities)","credit":"Customer credit ('I go pay you later') common in neighbourhood shops; supplier credit and 'ajo/esusu' savings groups widespread"},"notes":"Running a small business in Nigeria is dominated by two costs that the India model barely has: self-generated power and inflation. Most shops sit in tariff Bands B–E with 4–16 hours of daily outage, so a petrol generator costing ₦1,400–2,100 an hour (petrol near ₦1,400/L in Oct 2026 after the Hormuz oil shock) can exceed rent. Food inflation was still about 19.6% in Sep 2026 and the naira trades near ₦1,333/$, so menu prices are reset every few months. Payments run on bank transfers, OPay/Moniepoint/PalmPay wallets and POS agents rather than UPI-style QR. The 2026 tax reform is generous to micro firms (0% CIT and no VAT under ₦50m turnover, first ₦800k of personal income tax-free), but state and LGA levies, task-force raids and informal collections are a real cost. Lagos is far dearer than Ibadan or northern cities; the North has distinct Ramadan and Sharia-related trading rules.","factors":[{"id":"P01","cat":"Wages","name":"National minimum wage","value":"₦70,000/month (Act of July 2024); review due 1 Jun 2027","role":"HV","source":"https://www.thisdaylive.com/2026/10/16/minimum-wage-review-due-in-june-2027-fg-tells-labour/","estimate":false},{"id":"P02","cat":"Wages","name":"State minimum wages above federal floor","value":"Some states pay more (Imo ₦104,000, Ebonyi ₦90,000 for civil servants); private micro shops rarely comply","role":"HV","source":"https://nairametrics.com/2026/05/01/minimum-wage-2026-what-every-state-in-nigeria-pays/","estimate":false},{"id":"P03","cat":"Wages","name":"Shop helper / apprentice pay (Ibadan)","value":"₦40,000–70,000/month; apprentices often unpaid or a stipend plus 'freedom' payment at end","role":"HV","source":"Est.: below the ₦70,000 floor is common in informal retail; apprenticeship (Igba-boi) system documented widely","estimate":true},{"id":"P04","cat":"Wages","name":"Casual day labour (Ibadan)","value":"₦5,000–7,000/day","role":"HV","source":"Est.: ₦70,000 ÷ 26 days ≈ ₦2,700 is the legal floor; market rates for loaders/cleaners in 2026 run 2× that given 15–20% inflation since 2024","estimate":true},{"id":"P05","cat":"Rent","name":"Shop rent T1 Lagos (mainland, 100–200 sq ft)","value":"≈ ₦900/sq ft/month; usually 1–2 years paid upfront plus agency and legal fees (10% + 10%)","role":"HV","source":"Est.: Lagos mainland lock-up shops advertised ≈ ₦1.2–2.5m/yr; upfront-year convention is standard in Nigeria","estimate":true},{"id":"P06","cat":"Rent","name":"Shop rent T2 Ibadan / T3 Ogbomoso","value":"≈ ₦350 / ₦150 per sq ft/month","role":"HV","source":"Est.: Ibadan rents roughly 35–40% of Lagos mainland; small towns ~15%","estimate":true},{"id":"P07","cat":"Rent","name":"Upfront rent convention","value":"1–2 years' rent in advance + agency 10% + legal 10% + caution; Lagos Tenancy Law caps advance for sitting tenants but rarely enforced","role":"HV","source":"Est.: standard market practice; Lagos Tenancy Law 2011","estimate":true},{"id":"P08","cat":"Power","name":"Grid tariff Band A (20+ hrs supply)","value":"₦209.5–225/kWh (NERC; Band A cost-reflective since Apr 2024)","role":"HV","source":"https://www.voltflow.net/blog/electricity-cost-nigeria-2026","estimate":false},{"id":"P09","cat":"Power","name":"Grid tariff Bands B–E","value":"₦63 (B, 16–20 h) / ₦50 (C) / ₦45 (D) / ₦40 (E, <8 h) per kWh; most small shops are B–D","role":"HV","source":"https://www.voltflow.net/blog/electricity-cost-nigeria-2026","estimate":false},{"id":"P10","cat":"Power","name":"Generator running cost","value":"2.5 kVA petrol gen burns 1–1.5 L/h ≈ ₦1,400–2,100/h at Oct 2026 petrol; ≈ ₦500–900/kWh effective","role":"HV","source":"https://www.voltflow.net/blog/electricity-cost-nigeria-2026 (litres/hour; repriced at ₦1,400/L from https://www.legit.ng/business-economy/energy/1736338-petrol-price-update-marketers-release-petrol-prices-lagos-port-harcourt-calabar-warri/)","estimate":true},{"id":"P11","cat":"Power","name":"Buy inverter/solar vs generator","value":"Owner choice: small solar+battery kit ≈ ₦1.5–4m capex cuts generator fuel 50–90%","role":"PD","source":"Est.: market prices for 1–3 kVA hybrid inverter kits in 2026","estimate":true},{"id":"P12","cat":"Fuel","name":"Petrol (PMS) pump price","value":"≈ ₦1,400/L (Lagos depot ₦1,348 on 15 Oct 2026; NNPC retail reported ₦1,405); was ₦839 in Feb 2026","role":"HV","source":"https://www.legit.ng/business-economy/energy/1736338-petrol-price-update-marketers-release-petrol-prices-lagos-port-harcourt-calabar-warri/","estimate":true},{"id":"P13","cat":"Fuel","name":"Cooking gas (LPG 12.5 kg)","value":"≈ ₦16,000 refill (₦13,438 in Feb 2026, raised for the 2026 oil shock)","role":"HV","source":"https://www.zikoko.com/money/how-much-basic-items-cost-in-nigeria-in-2023-vs-2026/ (Feb 2026 figure; Oct uplift estimated)","estimate":true},{"id":"P14","cat":"Fuel","name":"Diesel (AGO)","value":"≈ ₦1,300–1,500/L Oct 2026 (₦909 in Feb 2026)","role":"HV","source":"Est.: Feb 2026 ₦909.50 from https://www.zikoko.com/money/how-much-basic-items-cost-in-nigeria-in-2023-vs-2026/ scaled with petrol's rise","estimate":true},{"id":"P15","cat":"Prices","name":"Headline / food inflation","value":"Headline ≈ 15–16% (mid-2026); food inflation 19.6% y/y in Sep 2026","role":"HV","source":"https://allafrica.com/stories/202606160021.html","estimate":false},{"id":"P16","cat":"Prices","name":"Exchange rate","value":"≈ ₦1,333/$ official NFEM (mid-Oct 2026); parallel ≈ ₦1,375","role":"HV","source":"https://nairametrics.com/2026/10/13/naira-holds-near-n1333-as-fx-turnover-swings/","estimate":false},{"id":"P17","cat":"Prices","name":"Staples: rice 50 kg, oil, gari","value":"Rice 50 kg ₦68,000; vegetable oil 1 L ₦4,745; gari ₦810/kg; beans ₦3,000/kg (Feb 2026)","role":"HV","source":"https://www.zikoko.com/money/how-much-basic-items-cost-in-nigeria-in-2023-vs-2026/","estimate":false},{"id":"P18","cat":"Prices","name":"Sliced bread loaf","value":"≈ ₦1,500–1,800 (₦1,460 in Aug 2024 NBS)","role":"HV","source":"https://millingmea.com/?p=2026791 (2024 NBS figure; 2026 estimated)","estimate":true},{"id":"P19","cat":"Prices","name":"Buka plate (rice/swallow + stew + meat)","value":"≈ ₦2,000 Ibadan, ₦2,500–3,500 Lagos","role":"HV","source":"Est.: built from rice/oil/beef input prices above at ~40% food cost","estimate":true},{"id":"P20","cat":"Prices","name":"Men's haircut (barbing salon)","value":"≈ ₦1,500 Ibadan; ₦2,000–5,000 Lagos (generator surcharge common)","role":"HV","source":"Est.: market rates; clipper use makes barbers heavily generator-dependent","estimate":true},{"id":"P21","cat":"Prices","name":"Tea/'mai shayi' cup and milk","value":"Tea cup ₦300–500 at a mai shayi stall; milk ≈ ₦3,200/L (UHT/powdered equivalent)","role":"HV","source":"Est.: tinned/powdered milk dominates; fresh milk rare outside north","estimate":true},{"id":"P22","cat":"Registration","name":"CAC Business Name fee","value":"≈ ₦21,400 total government charge; 1–3 days online","role":"PD","source":"https://selar.com/stoppayingagent","estimate":false},{"id":"P23","cat":"Registration","name":"Free registration schemes","value":"SMEDAN/CAC free business-name quotas (limited to 250,000 businesses)","role":"PD","source":"https://msmeafricaonline.com/how-to-apply-for-the-free-smedan-cac-business-name-registration/","estimate":false},{"id":"P24","cat":"Tax","name":"Small company exemption","value":"Turnover ≤ ₦50m and fixed assets ≤ ₦250m: 0% CIT, exempt from 4% development levy; professionals excluded","role":"HV","source":"https://businessday.ng/?p=1172670","estimate":false},{"id":"P25","cat":"Tax","name":"VAT","value":"7.5%; small businesses exempt from registering/charging unless they elect","role":"PD","source":"https://businessday.ng/?p=1172670","estimate":false},{"id":"P26","cat":"Tax","name":"Tax reform in force","value":"Nigerian Tax Act and Tax Administration Act effective 1 Jan 2026","role":"HV","source":"https://nannews.ng/2026-tax-reforms-matters-arising/","estimate":false},{"id":"P27","cat":"Levies","name":"State/LGA levies and informal collection","value":"Trade permit, signage, waste, park/market tickets; 'agbero' touts collect daily ₦200–1,000 from street traders (estimate)","role":"HV","source":"Est.: multiple taxation of MSMEs widely reported; no consolidated schedule","estimate":true},{"id":"P28","cat":"Payments","name":"Transfers, wallets and POS agents","value":"Customers pay by bank transfer, OPay/Moniepoint/PalmPay; POS agents provide cash-out at ≈ ₦100–200 per ₦5,000–10,000","role":"HV","source":"Est.: POS agent fee norms in 2025–26; agent banking is the main cash channel","estimate":true},{"id":"P29","cat":"Payments","name":"Customer credit","value":"Neighbourhood shops extend informal credit; ajo/esusu groups fund stock","role":"PD","source":"Est.: standard practice in informal retail","estimate":true},{"id":"P30","cat":"Business types","name":"Common small businesses","value":"Provision shops, POS agent kiosks, buka/food canteens, suya and roadside food, barbing and hair salons, tailoring, phone repair and accessories, recharge-card/data sellers","role":"HV","source":"Est.: SMEDAN MSME survey categories (2021) and market observation","estimate":true},{"id":"P31","cat":"Climate","name":"Rainy season","value":"Apr–Oct south; flooding stalls street trade","role":"HV","source":"Est.: NiMet seasonal pattern","estimate":true},{"id":"P32","cat":"Festivals","name":"December peak","value":"Dec spending 1.5–2× normal for food, drink, fashion, salons","role":"HV","source":"Est.: seasonal pattern; no official sales index","estimate":true},{"id":"P33","cat":"Regional rules","name":"Sharia states (12 northern states)","value":"Alcohol sales banned; Hisbah enforcement; Ramadan daytime eating restricted for Muslims","role":"HV","source":"Est.: Sharia penal codes in Kano, Zamfara etc. since 2000","estimate":true},{"id":"P34","cat":"Regional rules","name":"Lagos street-trading ban and KAI","value":"Street trading/hawking prohibited under Lagos Street Trading Law 2003; goods seized, fines","role":"HV","source":"Est.: Lagos State Street Trading and Illegal Market Prohibition Law 2003","estimate":true},{"id":"P35","cat":"Language","name":"Languages of trade","value":"English official; Pidgin everywhere; Yoruba (SW), Hausa (N), Igbo (SE)","role":"HV","source":"Est.: general reference","estimate":true},{"id":"P36","cat":"Demographics","name":"Income and urbanisation","value":"GDP/capita ≈ $800–1,000 after 2023–24 devaluation; ≈ 55% urban","role":"HV","source":"Est.: World Bank WDI 2024–25 order of magnitude","estimate":true},{"id":"P37","cat":"Risk","name":"Fuel scarcity / price spike","value":"Queues and 20–50% price jumps; generator cost and transport surge","role":"RE","source":"https://www.legit.ng/business-economy/energy/1736338-petrol-price-update-marketers-release-petrol-prices-lagos-port-harcourt-calabar-warri/","estimate":false},{"id":"P38","cat":"Risk","name":"National grid collapse","value":"Several total collapses per year; days of no grid power","role":"RE","source":"Est.: repeated national grid collapses reported 2024–2026","estimate":true},{"id":"P39","cat":"Risk","name":"Urban flood","value":"Lagos/riverine floods destroy stock; markets shut days","role":"RE","source":"Est.: annual flooding pattern (e.g. Maiduguri 2024)","estimate":true},{"id":"P40","cat":"Risk","name":"Task-force raid / shop demolition","value":"Stalls seized or demolished for 'illegal structures'","role":"RE","source":"Est.: recurrent Lagos and Abuja enforcement drives","estimate":true},{"id":"P41","cat":"Risk","name":"Cash scarcity / FX shock","value":"Naira redesign 2023 cash crunch; POS cash-out fees triple","role":"RE","source":"Est.: 2023 naira redesign episode","estimate":true},{"id":"P42","cat":"Risk","name":"Insecurity / curfew (North, Middle Belt)","value":"Banditry and curfews close markets","role":"RE","source":"Est.: recurring state curfews","estimate":true}],"regions":[{"id":"ng-lagos","name":"Lagos","why":"Highest rents (1–2 yrs upfront), street-trading ban, LIRS consumption tax, Band A feeders; biggest market"},{"id":"ng-fct-abuja","name":"FCT Abuja","why":"Planned city with strict AEPB enforcement on kiosks and hawkers; high rents, better power in central districts"},{"id":"ng-kano","name":"Kano","why":"Sharia state (no alcohol, Hisbah), Ramadan trading pattern, cheaper labour and rent, large wholesale markets"},{"id":"ng-rivers","name":"Rivers (Port Harcourt)","why":"Oil economy: higher prices and rents, soot pollution, flooding"},{"id":"ng-oyo","name":"Oyo (Ibadan)","why":"Large lower-cost city, Yoruba market culture, rents ~40% of Lagos"},{"id":"ng-anambra","name":"Anambra (Onitsha)","why":"Trader hub with apprenticeship system and market-union levies"},{"id":"ng-kaduna","name":"Kaduna","why":"Mixed Sharia/non-Sharia areas, insecurity and curfews"}]}