By Ebenezer Mabinuola
Africa’s economic future depends on fully integrating the informal sector into structured intra-African trade, Vice President Kashim Shettima has said.
Speaking at the opening of the 4th African Union Micro, Small and Medium Enterprises (MSME) Forum in Abuja, Shettima urged African leaders to formalize the informal economy, which accounts for nearly 90% of the continent’s workforce.
“There can be no African prosperity without a strong MSME ecosystem,” he stated. “This forum is more than a gathering—it’s a call to action.”
Shettima emphasized the transformative potential of the African Continental Free Trade Area (AfCFTA) but warned that if informal enterprises are excluded, the continent risks entrenching underdevelopment. He also delivered President Bola Tinubu’s message of solidarity, underscoring Nigeria’s commitment to inclusive growth and regional cooperation.
Highlighting Nigeria’s own MSME landscape, Shettima noted that small businesses contribute 48% to GDP and employ over 84% of the country’s workforce. He pointed to fintech innovations as drivers of financial inclusion and urged investment in digital infrastructure and regulatory reform to unlock the full potential of MSMEs.
Supporting voices from the forum included Senator Ibrahim Hadejia and presidential aide Temitola Adekunle-Johnson, who both stressed youth-driven innovation. SMEDAN’s Charles Odii urged support for local products, while Bank of Industry MD Dr. Olasupo Olusi highlighted the impact of digital upskilling.
The EU’s Massimo De Luca announced a €1.1 billion support package for AfCFTA, while the UNDP’s Elsie Attafuah called for empowering ecosystems. NEXIM’s Abba Bello concluded: “For AfCFTA to thrive, Africa must invest in production and value chains from within.”
