May 26, 2018

INFORMAL SECTOR ACCOUNTS FOR 57.9% OF NIGERIA’S GDP, SAYS UNDP

INFORMAL SECTOR ACCOUNTS FOR 57.9% OF NIGERIA’S GDP, SAYS UNDP

By Chibuzor Emejor

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United Nations Resident Coordinator/UNDP Representative in Nigeria, Daouda Toure, estimates that the contributions of the nation’s informal sector to Gross Domestic Product (GDP) is currently 57.9 per cent.

 

Speaking at the stakeholders’ validation workshop on informal sector study organised by the National Planning Commission (NPC) in collaboration with the Nigerian Institute of Social and Economic Research (NISER) on Tuesday in Abuja, Toure, noted that for many people in the developing countries, the informal economy is an important source of livelihoods for individuals, families, and communities.

 

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