Only 1.3% of informal businesses make N2.5m profit – Report

The Informal Economy Report 2024 has shown that only 1.3 per cent of Nigerian informal businesses reach over N2.5 million profit on a monthly basis. The report, which was compiled by financial technology provider, Moniepoint, revealed that the network of unregistered businesses, which contributed over half of the country’s GDP with teeming street vendors, artisans [...]

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