The South West is the only region with MSMEs in earning above ₦100 million monthly in revenue

Key Takeaways

  • The South West is the only region with MSMEs reporting revenues above ₦100 million, accounting for 100% of that bracket.
  • While high-revenue firms cluster in the South West, the South South leads in the ₦10M–₦99.9M range, with over 50.8% share.
  • The North Central (30.3%) has the highest share of MSMEs earning less than ₦100,000 monthly, followed by the North East (19.6%).
  • The ₦200K–₦999.9K range is more evenly spread across regions, but the South West and South South consistently record stronger representation.

The regional breakdown of MSME revenues in Nigeria reveals striking disparities. At the very top, the South West is unmatched. It is the only region with businesses earning above ₦100 million monthly, holding 100% of this elite category. This underscores the region’s dominance as Nigeria’s financial and commercial hub.

In contrast, the South South leads in the ₦10M–₦99.9M revenue range, accounting for more than half of all MSMEs in this bracket, while the South East shows strength in the mid-level categories such as ₦200K–₦499.9K. The northern regions, particularly the North Central and North East, are far more concentrated at the lower end, with a significant share of MSMEs generating less than ₦100,000 monthly.

Source:

Intelpoint report: MSMEs in Nigeria Business finance, revenue and support, among others

Period:

2025
HTML code to embed chart
Want a bespoke report?
Reach out
Click to copy HTML embed code
Tags
Related Insights
Despite allocating more funds than in 2020, Nigeria's defence budget share falls back to 9% in 2026, matching the 2020 low
  • Nominal spending surged, but inflation and naira depreciation eroded real gains. From ₦921 billion in 2012 to ₦6.57 trillion in 2025, the absolute figure may seem dramatic, but Nigeria's security challenges intensified over the same period.
  • Defence commanded over 21% of the budget in 2013. From 2024 to 2026, that figure has fallen below 14%, with 2026 hitting a historic low of 9.3%.
  • Boko Haram, banditry, and separatist tensions peaked in 2020, resulting in a cut that saw defence's share fall to just 9.2%, the lowest on record at that point.
  • The jump to ₦6.57trn (13.2%) in 2025 marks the sharpest year-on-year absolute increase in the dataset. But 2026 reversed this again, with the rate dropping to 9.3%.
Nigeria recorded a 76% drop in HIV cases over five years
  • The 2019 number revealed the truth — years of underdiagnosis were corrected in a single year when PEPFAR restructured testing entirely.
  • The 76% decline from 2019 to 2024 is one of the most significant HIV reductions in Africa in a single decade.
  • One year of disruption in 2020 erased an entire year of progress, creating a backlog that took until 2022 to clear.
  • With PEPFAR's $1.2 billion pipeline cut, fewer Nigerians are being tested, meaning fewer cases appear on paper while the virus spreads undetected.
Nigeria's insurance sector crossed ₦1.98tn in H1 2025 as every segment grew by at least 25%
  • Life Business was the single largest segment, and its 70.3% jump signals that more Nigerians are thinking seriously about financial protection for their families.
  • Miscellaneous, the smallest segment, posted the biggest growth at 86.7%, suggesting new and unconventional insurance products are gaining serious traction.
  • Aviation & Marine nearly doubled, with 79.9% growth in a sector tied to trade and logistics, reflecting Nigeria's expanding import/export activity and the rising cost of cargo and aircraft risk coverage.
  • Motor (52.5%), Fire (53.3%), and General Accident (49.6%) grew by roughly half, indicating broad-based sector expansion rather than isolated pockets of growth.
Nigeria’s crude oil export value surges over 400% from 2020 to a record ₦55.3tn in 2024
  • Export values have grown over 400%, rising from ₦11.8 trillion in 2013 to a peak of ₦55.3 trillion in 2024, a fivefold increase driven by rising oil prices and a weaker naira.
  • 2015 and 2016 were the hardest years, with export values crashing as low as ₦6.8 trillion in 2015, reflecting the brutal impact of the global oil price collapse on Nigeria's most critical export.
  • The most explosive growth came from 2023 onwards, with values surging past ₦29 trillion in 2023 and peaking at ₦55.3 trillion in 2024, largely driven by the naira depreciation following Nigeria's 2023 foreign exchange reforms.
  • The first nine months of 2025 saw a slower pace than the previous year, with ₦37.7 trillion recorded between Q1 and Q3, lower than the ₦41.5 trillion recorded during the same period in 2024.
Local companies have consistently contributed most of Nigeria’s Company Income Tax payments since 2016
  • Local companies dominated CIT contributions in most years, accounting for over 50% of payments in 9 of 11 periods between 2015 and 2025 (Q1–Q3).
  • Foreign companies briefly closed the gap in 2023, contributing 49%, the closest they have come to matching local firms.p
  • Local companies recorded their strongest share in 2021 at 65%, marking the widest gap between local and foreign contributors.
  • “Other payments” peaked during the pandemic, rising to 17% in 2020 before dropping to 0% from 2022 onward.
Silverbird Ikeja led the region with ₦1.1bn in ticket sales and the most cinema admissions in 2025
  • Ogun has become Nigeria’s second-largest industrial centre, with major clusters in Ota, Sagamu, and Ifo.
  • Limestone mining triggered a boom in cement production and heavy industry.
  • Infrastructure-Enabled Expansion: strategic projects such as the Oyan Dam and the Agro-Cargo Airport supported industrial and demographic growth.
  • Rapid population growth, particularly from Lagos spillover, fuelled labour supply and urban development.
POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved