MSMEs contribute half of Nigeriaβs GDP, 84% of jobs β Minister
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Summary: Moniepoint identified limited access to finance, weak business structures, low digital adoption and poor infrastructure as the key challenges retarding informal sector growth.
Micro, small and medium enterprises (MSMEs) are responsible for about half of Nigeriaβs GDP and employ more than 84 per cent of its workforce, Jumoke Oduwole, the minister of industry, trade and investment, disclosed in Abuja on Friday.
Ms Oduwole, who stood in for Vice President Kashim Shettima at the launch of Moniepointβs 2025 Edition of the Nigerian Informal Economy Report, said the figures reflect the strength and dynamism of Nigerian entrepreneurs, who continue to sustain the economy in the face of structu
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