Nigeria’s informal sector makes up 76.7% of the national workforce, according to a recent study conducted by Jobberman Nigeria in partnership with the Mastercard Foundation.
While this demonstrates the incredible entrepreneurial drive of Nigerians, it also highlights a vulnerability: most of these businesses lack the structure and legal standing to access finance, attract investors, or build resilience.
CREF Advisory Services Limited is stepping in to support the transition from informal to formal. We believe that formalization, when paired with practical governance frameworks, can unlock new levels of productivity, investor access, and long-term growth for these enterprises.
We work hand-in-hand with business owners to establish their governance processes, set up financial and operational reporting systems, and ensure they’re compliant with relevant regulations. Our goal is to turn informal businesses into credible, investment-ready ventures.
Sources
Jobberman Nigeria & Mastercard Foundation (2024). Workforce and Informal Sector Study. Jobberman Official.
Punch Nigeria (2024). Informal sector accounts for 76.7% of Nigeria’s workforce – Jobberman.
