problems of informal sector in nigeria

The informal sector is an integral part of several sub-Saharan African (SSA) countries and plays a key role in the economic growth of these countries. Nigeria's response to the informal sector has either been to ignore its existence or try to suffocate it with supposedly common-sense initiatives. The expansion of informal sector activities in Nigeria provides an insight into how this sector has been serving as a safety-belt in providing employment and … That means trying to control the spread of the pandemic has been one problem. Lagos- Mr. Segun Awolowo, the Chief Executive Officer of Nigeria Exports Promotion Council (NEPC) has said that Nigeria informal sector records at least N41 billion annually across the West African States. If the government is able to set up policies to aid in the economic activities of the sector, the informal sector … “In 2012/13, the monthly average earnings among informal economy workers was GHc101.01 or 27.9 percent lower than the national average earnings of GHc463.30,” the findings said. Taxing the Informal Sector (IS) and its taxpayers’ compliance level has become a focus of attention in recent times by scholars and policy makers because of IS contribution to the country. Speaking at an […] And with a country of nearly 200 million, over 80 percent work in the informal sector. of people who look to the informal sector for economic survival. Nigeria has a burgeoning gig economy as well as a large informal sector, which contributes 65 percent of its economic output. Given that many Nigerians working in the informal sector are illiterate, Giwa says many don’t even believe the coronavirus is real. This is as the Federal Government has been called upon to create enabling environment for private investors to grow the economy. IS seems difficult to tax because of administrative problems, human capital and personnel shortage, lack of record keeping, nature of its economic activities and cost implications. The Nigerian Informal Sector (IS) is a major contributor to the Nigerian economy, accounting for a significant portion of employment and national GDP. Informal sector policies in Nigeria in the 1980s were very repressive, while the response to the sector in the 1990s was much more pragmatic and promotional. We argue that the informal nature of urban life in Nigeria makes the COVID-19 pandemic a social and political economy challenge as well as a health problem. While it has its merits, it runs the risk of making business harder for informal economy agents. Majority of Nigerians in the informal sector cannot afford and access health care services because it is beyond their reach (Ataguba, 2007). Take the CBN's cashless policy . Statistics reveals that 70.2% of Nigerians are living below the poverty line of USD 1.00 per day which encourages the vicious cycle of … multidimensional problems, the study laid more emphasis on these problems to find out how these factors have interplayed in determining the employment generation of the informal sector in Nigeria … Myths associated with informal trade include the belief that foreign nationals dominate the sector. According to the IMF, the Nigerian informal sector accounted for ~65% of Nigeria… The status and needs of waste workers, as a social group in the informal economy, need to be taken on board in current and post-pandemic solid waste management policy and planning. 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