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40% of Nigeria's Informal Businesses Earn Below $12 Daily

10/30/2025

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Summary

Story summary

A new report finds more than 40% of Nigeria's informal businesses earn under $12 daily.
The informal economy accounts for 65% of Nigeria's GDP and employs over 80% of the workforce.
Women-owned enterprises face an income gap, with 41% earning less than $6 daily.
High costs and multiple layers of taxation hinder formalization.
Moniepoint Inc. launched an AI chatbot, 'M,' to improve access to informal economy data and financial inclusion.

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Story summary

A new report finds more than 40% of Nigeria's informal businesses earn under $12 daily.
The informal economy accounts for 65% of Nigeria's GDP and employs over 80% of the workforce.
Women-owned enterprises face an income gap, with 41% earning less than $6 daily.
High costs and multiple layers of taxation hinder formalization.
Moniepoint Inc. launched an AI chatbot, 'M,' to improve access to informal economy data and financial inclusion.