Lagos Dey Bag 16% Share Of Nigeria Informal Economy

Lagos State dey lead for Nigeria informal business waka as e carry 16% of all di informal businesses wey dey for di country, di same number wey North-East and South-East combine get. Dem talk say Lagos pass Ogun, FCT and Delta wey each get only 6%, while Taraba, Yobe, Kebbi and Zamfara manage just 1% each. Most of di businesses na for retail and services level, buying and selling things for market, salon work, tailoring, repairs and di rest. Retail alone carry 44% while services carry 33%. Construction and manufacturing follow with 7%, agriculture na 6%, entertainment na 4%, and education, food and accommodation get 3% each.

Report still show say many of dis informal businesses na one-man squad, na only 40% get workers. 38% get just one person, 37% get two to three, while less than 1% reach 30 workers. Na businesses wey don last pass one year dey likely employ people. Women wey dey run business reduce to 35% this year from 37% last year, while men still dey hold 65%. But wahala dey 44% of businesses dey make less than ₦20,000 daily, and 38% dey pocket below ₦10,000 profit per day. Even though 65% say dia sales don increase, only 47% say profit join rise. Reason? Cost of running business don high, 79% of dem talk say expenses don go up because of expensive supplies, transport wahala and naira wey no stable. All these don make am hard for small businesses to survive and grow.