He said over 80% of the Nigerian working population including those engaged in agricultural production are engaged in the informal economy. ILO has said the COVID-19 lockdown and containment measures across the globe will increase poverty levels in the informal sector by 56%. The pivotal role of the urban informal sector is expected to continue in the foreseeable future in light of Africa’s growing population. says the scheme is working with State Social Health Insurance Scheme (SSHIS) to extend health insurance coverage to informal sector of the population. Unsurprisingly, health and safety are not a high priority in the informal sector, and it … The effect of the pandemic is not only limited to the informal sector. Over the past years, scholars have debated on whether the informal sector should really be seen as a marginalized sector, which mops up excess or entrenched workers or as a vibrant, entrepreneurial part of the Nigeria economy which can However, poverty may have been overestimated due to the lack of information on the extremely huge informal sector of the economy, [5] [6] estimated at around 60% more, of the current GDP figures. With a middle class that accounts for approximately 23% of the population and is estimated to have a combined buying power in excess of $28 billion, as well as more and more large brands entering the Sub-Saharan market through Nigeria (UK Toy shop Hamleys being one example), the retail market has made significant leaps and is still growing; fast. For a country with massive wealth and a huge population to support commerce, a well-developed economy, and plenty of natural resources such as oil, the level of poverty remains unacceptable. Nigeria has the biggest economy in Africa, ... 65 percent of the estimated 25 million people work in the informal sector. Mexico. Population; Latest Reports Federal Account Allocation Committee (FAAC ... Nominal GDP growth of the Manufacturing sector in the second quarter of 2020 was recorded at –0.14% (year-on-year), or -37.92% points lower than figures recorded in the corresponding period of 2019 (37.79%) and –28.61% points lower than the preceding quarter’s figure of 28.47%. A survey method will be use to collect data from 150 informal sector operators in Gwagwalada area council-FCT. Paraguay and Colombia, both South American countries, each have a 64% rate of informal sector employment. Also, half of Nigeria’s population currently live below the poverty line ($381.75) according to the NBS report in 2019. [7] Informal Waste Management. Lagos’ growing informal economy sector In Lagos state alone, the informal economy employs about 5.5 million people – about three-quarters of the state’s 7.5 million labour force. About 2-2.5% of the total urban population is involved in street vending, and out of the total urban population in the informal sector 14% is constituted of street vending. According to the International Labour Organisation, in Nigeria, over 80 percent of working people are employed in the informal sector. As much as 87 percent of the Nigeria consumer market is serviced by the informal sector. Nationally, the value of the sector is said to be worth N38.7trn, going by a 2016 estimate. rendered vulnerable (Federal Government of Nigeria, 2020). informal sector activities, inclusiveness and economic growth in Nigeria. However, this formal-informal overlap comes with risks, especially when it comes to consumables. In Nigeria, a majority of the waste management is done informally. A study released in 2016 revealed that the informal sector made 41%3 of contributions to Nigeria’s national GDP; a few years later, in 2018, this portion had risen to 65%. The Guardian (Lagos) By Gloria Ehiaghe. NIGERIAN INFORMAL SECTOR Nigeria has the largest informal sec-tor in Africa, a predominance that stems from its massive population of 153,9 million,3 and decades of poor economic performance denoted by a high unemployment rate of 12.9% and soaring poverty incidence of up to 54% (CBN, 2009: xxxvii). The National Bureau of Statistics (NBS) put Nigeria’s unemployment rate at 23.1 percent. According to the National Bureau of Statistics, the Lagos informal sector employs 5.58 million people, some two-thirds of the state’s working population. The adverse implications of the COVID-19 pandemic on Nigeria’s vulnerable population in a complex development setting calls for concerted action to simultaneously mitigate the health and socio-economic implications. 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