Informal Sector Restructuring & Revenue Generation
The informal economy (also known as the informal sector) is a major part of the Nigerian economy, and provides goods and services to millions of Nigerians.
In addition, it is a major provider of employment, especially for those who are unable to secure work in the formal sector. Despite the importance of the informal sector, it is often overlooked and misunderstood.
The informal economy comprises commercial activities that are not fully regulated by the government and other public authorities; however, these activities are legal, albeit conducted in an irregular manner.
Every state of the country has about 60-70% of their economy to the informal sector and this same sector account for about 65-70% daily cash liquidity available and if its activities is properly structured, it can generate far better revenue for the government. We have several business ideas to help restructure the informal sector with quality services and then drive revenue generation through it. If the informal sector is properly structured, it can add about 35% to the IGR of any economy and further boost the GDP of the citizens.
Restructuring the informal sector will definitely create several employment opportunities that will engage a lot of our able bodied youths, reducing the menace of insecurity as most insecurity stem out for idleness on the part of the youths. The opportunities created will raise the standard of living of the people, create a better GDP for the government , give the people a sense of living and most importantly reduce the challenges of insecurity
China today has the largest but well structured informal sector, this allows for several business investment opportunities that goes on yearly. A structured informal sector will boost both local and foreign investment opportunities this will help to reduce the pressure of development on the government and also increase revenue generation to a larger extent
As part of our designed services to help restructure the informal sector, is to also help check the insecurity that is very prevalent in that sector.
Our technology is built in such a way that a section of information will be shared with the police force to assist them in dealing with insecurity in their environment.
Our technology which is embedded in robust database, meant to provide real time online information with the police, to assist them in dealing with miscreants , update security information about the erring individual on the web-portal for proper security profiling and future record purpose.