Nigeria—Average Firm Age (years)
Category: Private SectorSource: World Bank World Development Indicators ↗Global Rank: #56 of 116Updated April 2026
Latest Value
18 years
2025
YoY Change
+27.3%
2014 → 2025
Global Rank
#56
of 116 countries
Maximum
18 years
2025
Minimum
12 years
2007
CAGR
+2.3%
3 years
Last
18 years
Previous
14 years
Highest
18 years
Lowest
12 years
Source
World Bank World Development Indicators
Nigeria's average firm age (years) was 18 years in 2025, ranking #56 out of 116 countries. This represents a +27.3% change from 2014. Over the past 3 years, the highest recorded value was 18 years (2025) and the lowest was 12 years (2007). Data sourced from the World Bank World Development Indicators.
Source: World Bank World Development Indicators
Historical Data
| Year | Value | Change |
|---|---|---|
| 2025 | 18 years | +27.3% |
| 2014 | 14 years | +18.6% |
| 2007 | 12 years |
Top Countries — Average Firm Age (years)
About This Indicator
Definition
The average wait, in days, to obtain an operating license, from the day of the application to the day it was granted.
Methodology
Data compiled by Enterprise Surveys, World Bank (WB), uri: https://www.enterprisesurveys.org/en/data.