Africa has seen its fair share of investors, and Nigerian businesses are not left out despite the rate of failed startups in the country. According to a Statista report published in 2022, up to 23% of businesses were fully shuttered, with just 1.4% remaining closed since the COVID-19 pandemic. Also, between June and December 2020, up to 13% of closed businesses were locked for at least one month, while the remainder opened in December but closed again in January 2021.

Although the Nigerian market has different opportunities and potentials, only a few new businesses can develop past the initial stages. As a result, they are compelled to move or even close down if a third party does not buy them. Here is a list of Nigerian businesses that failed within 5 years.