49% of Nigerian startups founded in the last 10 years make less than ₦10 million in revenue
- 49% of Nigerian startups generate less than ₦10 million annually.
- 30% of startups took at least four years to secure their first funding.
- 43% of startups received support from angel investors.
The challenges faced by Nigerian startups underscore the need for a more supportive ecosystem that addresses funding, regulatory hurdles, and talent retention. Without significant changes, many promising ventures may struggle to survive and thrive in a competitive market.
