NIGERIAN SMEs FEELING EVERY BUMP Commissioned by: More than 90 percent of businesses in Nigeria are SMEs Their productivity will shape the country's long-term growth, economic diversification and prosperity What obstacles are they facing? Corporate TAX Affairs Commission NATIONAL GRID NATIONAL BANK Big Business ATM TAXING BUSINESS 956 hours annually are taken in filing taxes in Lagos compared to the Africa average of 310 LIMITED ACCESS TO FINANCE 2% of the adult population received loans from a financial institution in the past year POOR POWER SUPPLY 50% of the country’s total population does not have access to national grid electricity COMMUNICATIONS NETWORKS 82% of mobile users access the internet daily, but network quality needs to be improved - especially in rural regions Sources: Economist Intelligence Unit, World Bank, IMF, Ericsson, KPMG