🇳🇬 Cost of Setting Up in Nigeria

Complete cost breakdown for company formation in Nigeria — formation fees, annual compliance, office space, and structure-specific costs.

Cost Overview

Cost Breakdown (USD)

Formation Cost

NGN 200,000 – 1,500,000 ($130 – $1,000)

Annual Compliance

NGN 500,000 – 5,000,000 ($330 – $3,300)

Office Space

NGN 2,000,000 – 20,000,000/year ($1,300 – $13,000)

Cost by Structure

Private Company Limited by Shares (Ltd)

Minimum CapitalNGN 100,000 (~$65) — nominal minimum for Nigerian-owned; NGN 200 million (~$130,000) for companies with foreign participation depending on sector

Annual CostNGN 500,000 – 3,000,000 depending on activity, compliance scope, and CAC filings

Setup Timeline2–4 weeks

Company Limited by Guarantee (GTE)

Minimum CapitalNo share capital — members guarantee a specified amount (typically NGN 100,000+)

Annual CostNGN 300,000 – 1,500,000 depending on activities

Setup Timeline3–6 weeks

This content is educational and does not constitute legal or tax advice. Always consult a qualified professional for your specific situation. Data last verified March 2026.