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Over 7m small businesses shut down in 2 years

Summary by Vanguard News
The harsh economic environment led to the closure of about 30 percent of Micro and Small Medium Enterprises (MSMEs) in Nigeria, amounting to about 7.2 million of the country's estimated 24 million MSMEs, between 2023 and 2024, the Nigerian Economic Summit Group (NESG) has stated.

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Over 7m small businesses shut down in 2 years

The harsh economic environment led to the closure of about 30 percent of Micro and Small Medium Enterprises (MSMEs) in Nigeria, amounting to about 7.2 million of the country's estimated 24 million MSMEs, between 2023 and 2024, the Nigerian Economic Summit Group (NESG) has stated.

·Nigeria
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Vanguard News broke the news in Nigeria on Monday, March 10, 2025.
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