What do you know about types of companies in Nigeria? In this article, we want to tell you some details of the classification, subcategories and give examples of the companies in the country. So, find out more.
What are the types of companies in Nigeria?
Here we have the overview of companies in Nigeria and their types for you. These companies have various structure, scale and approach to the business.
- Sole trader
It is known as the most simple form of the enterprise. Such an enterprise or company even doesn't require the registration, such trader just needs to have a registered business name. It is needed to prevent the possibility of other business to trade under the same name. In this type of enterprise the trader him/herself personally responsible for all the risks and aspects of the business process, the trader has unlimited liability for all legal actions and debts.
- Private Limited Company (Ltd)
I such type of the company the owners are legal entities who holds the shares of the enterprise. Such form of the company is the most widespread of registered business in Nigeria because of the simplicity of running and limited liability. The risk of shareholders is reduced only to the money they invested in the development of the enterprise.
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All the important information of the company recorded at the Corporate Affairs Commission and it provides legitimate nature of such type of enterprising. There are not many restrictions for such companies, and this makes them a flexible and simple solution for many businesses.
- Public Limited Company
Such companies have the ability to sell its shares. The cost of running the company is much higher than that cost of private variation of the company. These are the reasons why such type of enterprise is better for large organizations.
- Guarantee Company (not for profit)
This is a type of charitable organizations, they don’t have a share capital, and there is actually no owners of the company and no one receives any profit. All the income of the company is used to cover the costs of the operation and to achieve the aims and objectives of the company. See also: Top oil servicing companies in Nigeria.
Companies of Nigeria: subcategories and examples
There are different subcategories of companies in Nigeria.
- Companies of Nigeria by industry
There are 21 industies in the country, among them: Airlines of Nigeria, Energy companies, Manufacturing companies, Defense companies of Nigeria, Cement companies.
- Companies by a city in Nigeria
This is the classification of the companies according to the city of operation, for example, Companies based in Lagos.
- Companies of Nigeria by state
This is the classification of the companies according to the state of operation, for example, Companies based in Anambra State
- Railway companies of Nigeria
For example Nigerian Railway Corporation
- Privately owned companies of Nigeria
As an example, we can mention Private hospitals in Nigeria.
- Online retailers in Nigeria
Among the most known online retailers, there are: Jiji.ng, Jumia, Konga.com
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- Multinational companies headquartered in Nigeria
For example Dangote Group
- Government-owned companies of Nigeria
There are such companies as Nigerian Coal Corporation, Nigerian National Petroleum Corporation, etc.
- Defunct companies of Nigeria
This refers to companies that are no longer in operation.
- Conglomerate companies of Nigeria
These are: Access Bank Group, Bank PHB Group, Global Fleet Group, Ibru Organization, Stallion Group
- Stock Exchange companies
The list of such companies includes, Dangote Group, Zenith Bank, etc.
This is the list of companies in Nigeria and their types, see a more detailed overview in following publications.
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Source: Types of Companies in Nigeria