Nigeria, Oct. 18 -- Micro, small and medium enterprises (MSMEs) are responsible for about half of Nigeria's GDP and employ more than 84 per cent of its workforce, Jumoke Oduwole, the minister of industry, trade and investment, disclosed in Abuja on Friday.

Ms Oduwole, who stood in for Vice President Kashim Shettima at the launch of Moniepoint's 2025 Edition of the Nigerian Informal Economy Report, said the figures reflect the strength and dynamism of Nigerian entrepreneurs, who continue to sustain the economy in the face of structural challenges.

"Nigeria is home to over 39 million micro, small and medium sized enterprises, and they account for about 96 per cent of all businesses," she said.

"From market traders and artisans to small s...