Lagos, SMEDAN seek accurate data on Lagos' informal economy to inform policy decisions.

Lagos State and SMEDAN have collaborated to seek accurate data on the informal economy's contribution to the country's GDP, aiming to improve economic policies and development strategies.

Lagos State's Bureau of Statistics and the Small and Medium Enterprises Development Agency of Nigeria have launched an initiative to gather accurate data on the contributions of the informal economy in the state. The move aims to provide a more comprehensive understanding of the sector's impact on the state's economy, which is estimated to be significant but currently lacks reliable statistics. By collecting and analyzing accurate data, officials hope to gain valuable insights into the sector's growth potential and develop targeted policies to support its development. This effort is part of the agencies' ongoing efforts to promote economic development in Lagos State.