A new report by MoniePoint has revealed that 79 per cent of businesses in Nigeria’s informal economy have experienced a rise in operational costs over the past year.
The Informal Economy Report 2025, unveiled in Abuja on October 17, attributed the increase to higher supplier prices, transportation costs, and the depreciation of the naira.
According to the report, informal businesses — typically unregistered small enterprises — form a significant part of Nigeria’s economy but continue to face financial and structural challenges.
While 65 per cent of respondents reported increased revenue within the year, only 47 per cent said their profits rose, indicating that rising expenses continue to erode margins.
On access to finance, the report showed that one in three informal businesses had received loans of ₦100,000 or less, while only six per cent had secured loans exceeding ₦1 million.
It also revealed a gender gap in lending, with male-owned enterprises twice as likely as female-owned ones to access higher-value loans.
MoniePoint said it is developing financial tools tailored to informal business needs, including payment systems, digital collections, and business management support.
The fintech firm added that its platform now allows small business owners to register their businesses directly through its app, helping them transition from informal operations to formal recognition and access to broader financial services.
