Nigeria to conduct business census two decades after

A very interesting topic!

Yes, it's true that Nigeria has not conducted a business census in over two decades. A business census is a comprehensive survey of businesses and economic activities in a country, which provides valuable data for policymakers, entrepreneurs, and researchers.

According to reports, the last business census in Nigeria was conducted in 1999, which is a significant gap of over 20 years. The lack of a recent business census has been identified as a major challenge in Nigeria's economic development, as it hinders the government's ability to make informed decisions about economic policies, investment, and development.

The Nigerian Bureau of Statistics (NBS) has been working to address this gap by planning to conduct a new business census. In 2020, the NBS announced plans to conduct a business census in 2021, but the exercise was later postponed due to the COVID-19 pandemic.

In recent times, there have been renewed efforts to conduct a business census in Nigeria. In 2022, the NBS announced that it had received funding from the World Bank to conduct a business census, which is expected to be completed by 2024.

The upcoming business census is expected to provide valuable data on Nigeria's business landscape, including information on the number of businesses, employment, revenue, and other economic indicators. This data will be used to inform policy decisions, identify areas of economic growth, and support entrepreneurship and innovation in the country.

The benefits of a business census in Nigeria are numerous, including:

1. Improved economic planning: A business census will provide policymakers with accurate data to inform economic decisions and develop policies that support businesses and economic growth.
2. Enhanced entrepreneurship: A business census will help identify areas of entrepreneurship and innovation, which can be supported through targeted policies and programs.
3. Better investment decisions: A business census will provide investors with valuable data to inform investment decisions and identify opportunities for growth.
4. Improved business registration: A business census will help identify gaps in business registration, which can be addressed through targeted campaigns and initiatives.

Overall, the upcoming business census in Nigeria is a significant step towards improving the country's economic data and informing policy decisions that support economic growth and development.