On October 9, 2025, Moniepoint Microfinance Bank unveiled key findings from its second Informal Economy Report, set for release on October 10, 2025. The report reveals that 42% of Nigeria’s small businesses cannot sustain operations for a month without income, highlighting their financial vulnerability.
These enterprises, critical to Nigeria’s economy, employ a significant portion of the workforce and drive widespread economic activity.
The study, backed by the Ministry of Industry, Trade and Investment and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), provides a detailed examination of the informal sector. This sector, accounting for over 80% of employment, is a lifeline for millions excluded from formal job markets, playing a pivotal role in poverty reduction and economic resilience.
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The report aims to deliver evidence-based insights to guide policymakers, regulators, and financial institutions in crafting interventions to strengthen and formalize informal businesses.
“This study offers a robust analysis of the informal market, providing fresh perspectives on its challenges and opportunities,” said Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, in a statement on October 9, 2025. He noted that the report’s findings will inform policy formulation and execution, fostering sustainable growth for small businesses.
Building on the success of the 2024 inaugural report, which earned praise from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and prominent business associations, the 2025 edition offers credible data and actionable recommendations. The earlier report was lauded for its practical insights, which helped shape strategies to support informal enterprises.
It bears mentioning that Moniepoint’s initiative underscores the urgent need for targeted policies to bolster the resilience of Nigeria’s informal economy. By addressing the financial fragility of small businesses, stakeholders can enhance their stability, ensuring they continue to drive economic growth and alleviate poverty across the nation.