In a bold step to strengthen Nigeria’s informal economy, SMEDAN champions data drive alongside the Lagos State Government. The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) announced a joint initiative to gather reliable data on informal businesses. The goal is to create a clearer picture of the sector and improve support for operators.
The Director-General of SMEDAN, Charles Odii, spoke during the launch of the Lagos State Informal Sector Data Collection Project. He said that without data, policy efforts lack accuracy and sustainability. Odii emphasized that Nigeria cannot plan effectively without knowing how many informal businesses exist and what challenges they face.
SMEDAN champions data drive because accurate information leads to stronger business policies and fairer resource allocation. Odii said this project will help the government support street vendors, artisans, market traders, and others often left out of formal programs. He explained that many of these entrepreneurs generate income but go unnoticed in economic reports.
The Lagos State Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, also spoke at the event. He said the informal sector represents a major part of the state’s economy. According to him, most working-age people are involved in informal trade, and ignoring their contributions is no longer acceptable.
Ajigbotafe praised SMEDAN’s leadership and said the partnership shows what federal and state collaboration can achieve. He noted that the data will guide training, funding, and capacity-building initiatives across local government areas. Both Lagos and SMEDAN plan to make this model available to other states.
Odii stressed the importance of trust and called on informal business owners to cooperate with the data collectors. He said SMEDAN will use the findings to connect businesses with financing and technical support. The agency is also working on digital tools to help traders register and grow.
This project marks a new phase in how Nigeria treats the informal economy. SMEDAN wants informal businesses to thrive and to become part of the country’s long-term development plans. Odii added that data can unlock doors for small businesses and reduce inequality.
Several stakeholders attended the launch, including representatives from trade associations and community leaders. They welcomed the initiative and promised to help raise awareness. SMEDAN is already designing follow-up programs to offer micro-grants and skills development for traders and artisans identified in the data.
Odii’s approach reflects a clear vision. He believes every small business matters and should be counted. The collaboration between SMEDAN and Lagos shows that coordinated action is possible and productive.
This effort reinforces SMEDAN’s role as a key driver of inclusive growth. With the right data, the informal sector can move from the shadows into the mainstream. Accurate records will allow small businesses to access formal credit, expand their operations, and contribute more to the national economy.
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