Rising unemployment and economic pressure are pushing more Nigerians into small scale survival businesses as formal job opportunities become increasingly scarce. Across cities and towns, growing numbers of people are turning to street trading, home based services, and micro enterprises to sustain their families.
Economic analysts say the trend reflects both population growth and limited expansion in formal sectors capable of absorbing new entrants into the labour market. While entrepreneurship has long been part of Nigeria’s economic fabric, many of today’s ventures are driven by necessity rather than opportunity.
Roadside food vendors, online thrift sellers, phone repairers, and freelance service providers have become common sights, especially among young people navigating a tight job market. Digital platforms have also enabled micro businesses to reach customers through social media and messaging apps.
However, experts warn that survival businesses often operate with thin profit margins, limited access to credit, and minimal social protection. Without structured support, many remain vulnerable to economic shocks and rising operating costs.
Development specialists argue that the growth of informal enterprise should prompt targeted policies including micro credit schemes, skills training, and simplified tax systems that encourage small operators to formalise gradually.
Despite the challenges, some entrepreneurs see opportunity in adversity, using innovation and digital tools to carve out sustainable niches. Observers say these small enterprises collectively play a significant role in cushioning unemployment pressures and keeping local economies active.
As Nigeria’s labour market continues to evolve, the balance between formal employment and informal enterprise is expected to remain a central economic issue, with policymakers under pressure to create pathways that help survival businesses transition into stable, growth oriented ventures.
