Moniepoint Inc., in collaboration with the Federal Ministry of Trade and Investment and SMEDAN, has launched Nigeria’s first comprehensive report on the informal economy. This landmark achievement comes as a critical step in understanding and giving voice to the small businesses and entrepreneurs who form the backbone of Nigeria’s economy.
Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., shared insights about this initiative in a recent LinkedIn post, explaining the significance of the informal economy, which contributes over 50% to Nigeria’s GDP. It consists of kiosks, tailors, market traders, and countless small businesses that, when grouped together, represent a massive economic force.
Moniepoint has long been dedicated to empowering everyday Nigerians with financial tools that help them achieve financial stability. The company’s focus on the informal economy is key to its mission of uplifting those often overlooked in traditional financial systems. The newly launched report provides detailed data and insights into this segment, highlighting the crucial role these businesses play in supporting families and driving national growth.
This report stands as a testament to Moniepoint’s commitment to empowering the informal sector and ensuring that small business owners across Nigeria are seen, heard, and supported.
For more detailed insights, you can access the full report here.