Top 10 facts you probably don’t know about the investment climate in Nigeria…
1. Only 15 percent of Nigerian entrepreneurs are women --- one of the lowest shares in all Sub-Saharan Africa
2. Almost 70 percent of firms in Akwa Ibom train their employees while just one percent of firms in Zamfara do so. And workers that receive training earn up to a quarter more than non-trained workers.
3. Female entrepreneurs need credit more than men, but they are less likely to apply for and less likely to obtain a loan.
4. Unreliable power supply obliges almost 90 percent of firms to have a generator, and 70 percent of the energy used by manufacturers comes from their own generators.
5. Nearly 70 percent of small firms with loans had to pledge their personal assets -- usually their house -- as collateral.
6. Over half of the manufacturing firms in Nigeria do not employ any woman.
7. Losses due to unreliable power, transportation disruption, bribes, crime, and security amount to 10 percent of sales. Twice as high as in South Africa.
8. Nigerian firms that apply for bank loans are almost three times as likely to be rejected as firms in Brazil and Kenya.
9. Half of the small firms that today are registered started as unregistered firms.
10. Female entrepreneurs are 20 percent more likely to hire a female worker compared to men entrepreneurs. However, a woman looking for a job in Nigeria is three times more likely to find it in male-owned then in a female owned company.
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