Lagos State continues to dominate Nigeria’s casual enterprise panorama, accounting for 16% of all casual companies throughout the nation, a determine that equals the mixed complete of the Northeast and Southeast areas.
That is in response to Moniepoint Microfinance Bank’s 2025 Casual Financial system Report.
The report revealed that Lagos’s 16% share of the casual companies is way forward of Ogun, the Federal Capital Territory, and Delta, which every accounted for six%.
In the meantime, states similar to Taraba, Yobe, Kebbi, and Zamfara recorded simply 1% apiece
The report reveals that the majority casual companies in Nigeria are present in retail and companies. Retail and commerce make up 44% of the casual financial system, which means many individuals earn a residing by shopping for and promoting items in open markets and small retailers.
This reveals that the majority casual companies are small and simple to begin. Many individuals select these sorts of jobs as a result of they require little capital and could be began shortly to fulfill each day wants.
In response to the report, most casual companies are run by people with out employed labour. “Solely 40% of companies within the casual financial system make use of labour,” the report said.
It added that companies which have been round for longer usually tend to rent workers, with the chance growing twice after they attain a 12 months of operation.
The research notes that supporting casual companies to outlive longer will help them increase employment and ultimately transition into the formal financial system.
The report revealed that women-owned companies lowered by 2%. This 12 months, they recorded 35% of companies within the casual financial system, in comparison with 37% recorded within the earlier report in 2024. Males account for 65% of possession.
The report reveals that 44% of companies in Nigeria’s casual financial system make lower than N20,000 in each day income, whereas 38% earn earnings beneath N10,000 every day.
“44% of companies in Nigeria’s casual financial system make lower than N20,000 ($12) each day. The median each day income vary is between N20,000 and N50,000. By comparability, the median revenue vary is between N10,000 and N20,000, with 70% of them incomes lower than N50,000 per day.
“It is a development that has continued from final 12 months, the place excessive income values don’t essentially translate to vital revenue, the report said.
The report additionally revealed that whereas the vast majority of casual companies are making more cash in gross sales, their earnings haven’t elevated on the identical charge. About 65% of operators mentioned their income rose up to now 12 months, however solely 47% reported an analogous improve in revenue.
