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Empowering Small
Businesses in
Nigeria

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Estimated Nigerian Startup Failure Rate (2016-2024)

Faliure rate (%)

65 60 55 50 45 40
45% 2016
47% 2017
50% 2018
53% 2019
55% 2020
57% 2021
59% 2022
60% 2023
61% 2024

Nigerian Startup Failure Rate (2016–2024)

This chart illustrates the estimated trend of Nigerian startup failure rates from 2016 to 2024. Over the years, startup failure rates appear to increase gradually, likely influenced by challenges such as limited funding access, intense competition, and economic instability. The failure rate rose from around 45% in 2016 to an estimated 61% in 2024, reflecting the high-risk environment for startups in Nigeria despite the country’s promising entrepreneurial spirit.

Estimated Population of Nigeria (2016-2024)

Population (millions)

230 220 210 200 190 180
187m 2016
191m 2017
197m 2018
202m 2019
207m 2020
212m 2021
217m 2022
222m 2023
227m 2024

Nigerian Population (2016–2024)

The population of Nigeria has shown a steady upward trend from 2016 to 2024, growing approximately by 5-6 million people each year. Starting at about 186 million in 2016, it reached an estimated 227 million by 2024. This growth is driven by Nigeria’s high birth rate and relatively young population, positioning the country as one of the most populous nations worldwide, with significant implications for economic planning and development.

Our Mission:

Is to change the world by providing support to businesses making a profit of less than 50,000 naira a day so they can expand their business without reliance on high-interest loans.

Our Vision:

Is empower micro-businesses to break the cycle of poverty and thrive, we envision a world where entrepreneurs earning less than 50,000 naira a day have access to the resources and support they need to grow and succeed.