October 12, (THEWILL) — Nigeria’s leading fintech and digital financial services provider, Moniepoint Microfinance Bank, is set to unveil the second edition of its Nigeria Informal Economy Report on Friday, October 17, 2025, in Abuja.
The report, produced in partnership with the Federal Ministry of Industry, Trade and Investment and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), provides fresh insights into the realities of Nigeria’s informal sector — a segment that accounts for more than 80 per cent of national employment.
The launch event, which will be held at the Abuja Continental Hotel, is expected to draw participation from top policymakers, regulators, lawmakers, trade associations, development partners, and academic researchers. The sessions will feature keynote addresses, panel discussions, and a presentation of research findings highlighting key challenges and opportunities within the informal economy.
Understanding the Informal Economy
The informal economy comprises individuals and small businesses that operate outside formal registration, taxation, and regulatory frameworks but remain essential to Nigeria’s commercial life. These include market traders, street vendors, POS agents, tailors, hairdressers, mechanics, okada and keke riders, food sellers, and other artisans who earn income through daily trade or services without structured business registration.
Despite their unregulated status, these operators form the economic backbone of communities, providing employment and supporting household income across the country.
Key Points Ahead of the Launch
Pre-release excerpts from the report paint a sobering picture of financial vulnerability and resilience among informal sector operators across Nigeria.
According to Moniepoint, 42 per cent of informal workers lack enough savings to sustain themselves for even one month without income, underscoring the fragility of financial buffers within this segment.
While 65 per cent of businesses surveyed recorded revenue growth over the past year, rising operational costs meant only 47 per cent experienced an increase in profits. Furthermore, 38 per cent of operators earn below ₦10,000 per day. A statistic that points to the precariousness of income levels within the sector.
Despite these challenges, the report notes a steady shift toward digital payment adoption, with nearly 48 per cent of business owners now paying their suppliers through electronic channels — a reflection of Nigeria’s ongoing transition toward a cash-lite economy.
Driving Inclusion Through Data
Speaking on the essence of the initiative, Moniepoint’s management noted that the annual report seeks to provide data-driven insights that inform policy design, drive innovation, and strengthen the sustainability of Nigeria’s informal enterprises.
By spotlighting issues such as access to credit, savings behaviour, and digital adoption, Moniepoint aims to reinforce its position as a key enabler of financial inclusion and small business growth across Nigeria.
Policy and Development Implications
Stakeholders expected at the launch will discuss strategies to formalise informal businesses, deepen financial access, and enhance micro-savings and credit frameworks. The findings are also expected to guide government interventions that promote equitable growth and stability in the broader Nigerian economy.
The second edition of the report builds on the success of its maiden publication, further cementing Moniepoint’s reputation as a fintech leader committed to using research and technology to transform Africa’s most dynamic economic segment, the informal sector.
Ogochukwu Onwaeze
