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The Nigerian government has praised platforms like Moniepoint for their contributions to the development of the informal sector in the country.
Vice President Kashim Shettima made this statement during the launch of the 2024 Nigeria Informal Economy Report, which was powered by Moniepoint in collaboration with the Small and Medium Enterprise Development Agency of Nigeria and the Federal Ministry of Industry, Trade and Investment.
He reaffirmed the government's dedication to enhancing economic and financial inclusion in alignment with President Bola Tinubu's Renewed Hope Agenda.
Shettima emphasized that financial inclusion is a crucial part of the agenda, and the government is working hard to ensure that the vulnerable in society have safety nets, as demonstrated by the ASO Accord signed this year.
The Vice President, represented by Dr. Nurudeen Zauro, the Technical Adviser to the President on Economic & Financial Inclusion, recognized and valued the role of players in the informal sector, particularly Moniepoint.
He highlighted the challenges faced during the COVID-19 lockdown and recent currency changes, and praised agencies like Moniepoint for their flexible initiatives, such as last-mile delivery, which provided a platform for successful transactions.
The report also sheds light on the youthful demographics as a major driving force of Nigeria's informal economy, with over 57.7 percent of business owners being under 34 years old.
Additionally, it highlights the untapped earning potential within the informal segment.
