Shettima to AU Leaders: Integrate Informal Sector or Africa Will Remain Poor
By IDNN African Development Desk
Abuja, Nigeria — In a rousing keynote address to African leaders, Vice President Kashim Shettima has warned that unless the continent urgently integrates its vast informal economy into formal trade systems, prosperity will remain elusive.
Speaking at the 4th African Union Micro, Small and Medium Enterprises (MSME) Forum in Abuja, Shettima declared:
“Africa’s wealth is not in its skyscrapers or stock markets. It is in our informal sector — where 90% of our workforce resides.”
Africa’s Missed Wealth: Informal Economy
Shettima said the AfCFTA (African Continental Free Trade Area) can only work if governments bring informal businesses into the fold.
“If we fail to formalise the informal, we institutionalise poverty,” he said, citing the fact that 84% of Nigeria’s workforce operates outside the formal structure.
Nigeria’s Reforms and Pan-African Push
He highlighted Nigeria’s ongoing efforts under President Tinubu’s administration — including MSME funding, digital access programs, and reduced regulatory friction — as proof of commitment to inclusive growth.
The forum featured delegates from 50+ countries, with the EU pledging €1.1 billion to support AfCFTA rollouts.
Speakers like SMEDAN DG Charles Odii, BOI MD Olasupo Olusi, and UNDP Nigeria Rep Elsie Attafuah all echoed the call for digital tools, cross-border partnerships, and MSME policy reforms.
