In a statement released on Thursday, Moniepoint said the report underscores the fragile financial position of small businesses that collectively employ a significant portion of the country’s workforce. Supported by the Federal Ministry of Industry, Trade and Investment and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the report will be officially unveiled on Friday.
Describing the publication as an important contribution to understanding Nigeria’s informal economy, the Managing Director of Moniepoint Microfinance Bank, Mr. Babatunde Olofin, said:
“The Informal Economy Report is a robust and important study that examines the informal market and provides fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution.”
Nigeria’s informal economy, which accounts for more than 80 per cent of total employment, remains a critical engine of growth and a key safety net for millions who operate outside formal job structures. However, its participants—mostly small and micro enterprises—often lack access to financial buffers, making them highly vulnerable to economic shocks.
Moniepoint explained that the report seeks to generate data-driven insights to guide policymakers, regulators, and financial institutions in creating effective interventions that support, strengthen, and gradually formalise informal businesses.
The Informal Economy Report 2025 builds on the success of its inaugural edition, which received commendations from key institutions including the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission (CAC), SMEDAN, and major business associations for providing credible, actionable data to inform economic planning.
By shining a light on the realities facing Nigeria’s small businesses, Moniepoint aims to encourage more collaborative policy measures that promote financial inclusion and economic resilience within the country’s vast informal sector.