Many people who run businesses in Nigeria are not officially registered.
According to World Economics, the informal sector accounts for about 57 percent of the country’s total economic activity and employs more than 80 percent of workers.
However, because many of these businesses are not formally registered or taxed, they contribute very little to government revenue. As a result, Nigeria’s tax-to-GDP ratio is about 13.5 percent, one of the lowest in the world.
