Bukola Afeni
Prosperity360 (P360), a non-profit development organisation, has reached 300 micro-entrepreneurs in Adamawa, Katsina, Taraba and Lagos States and the Federal Capital Territory (FCT) under its Micro-Livelihood Acceleration Programme (MicLAP).
The organisation disclosed this in a statement signed by the Program Director, Odion Ikyo.
According to the statement, the intervention was launched in June 2026 to help informal traders, artisans, food processors and small farmers turn small capital into steadier incomes.
The statement noted that the programme was designed around a simple observation that many people who run small businesses work hard, but lack working capital, basic business records and a financial cushion when prices rise or sales slow.
It stated that most Nigerians earn a living outside the formal economy, adding that the National Bureau of Statistics (NBS), in its Nigeria Labour Force Survey for the second quarter of 2024, reported that about 93 per cent of employed Nigerians were in informal work.
“It further cited a 2025 survey of informal business owners by Moniepoint which found that 44 per cent make less than ₦20,000 in daily revenue, 79 per cent reported higher operating costs in the previous year and about 42 per cent do not have enough savings to survive a month without income.”
The statement also referenced the World Bank Group report and its Nigeria Development Update which states that Nigeria’s poverty rate reached 63 per cent in 2025, affecting roughly 140 million people, rising from 61 per cent in 2024 and 56 percent in 2023.
“The figures underline the scale of the challenge facing the millions of people who keep local markets and supply chains moving, often without formal credit, strong business systems or protection against shocks.”
Under MicLAP, P360 said it first assessed each participant’s business, needs and constraints, adding that each participant then developed an Individual Prosperity Plan with practical goals and milestones.
“The people we met were not short of effort. What they lacked was working capital, simple business systems and a cushion against shocks.
” Our goal is to ensure that capital combined with coaching and regular follow-up can make a lasting difference and to measure the results,” P360’s State Coordinator, Adamawa State, said.
The organisation said during its first four months, MicLAP focused on addressing practical barriers that can prevent small businesses from maintaining operations and building more stable livelihoods.
” The programme’s progress is being assessed across four areas which include access to productive resources, business management, household financial resilience and market participation.”
According to P360, through productive support, participants were assisted to obtain business stock, raw materials, tools and other inputs relevant to their trades.
“The key resources are intended to help eligible participants maintain operations, respond to customer demand and reduce interruptions caused by shortages of essential business inputs.”
The organisation added that the programme also provided practical coaching in pricing, stock control, record-keeping, cash management and reinvestment.
” The skills will help participants understand their costs, monitor business performance and make more informed decisions about how they use their earnings.”
On household financial resilience, P360 said more consistent business activity and better financial management will help households plan for routine expenses, build savings and prepare for unexpected costs.
It noted that MicLAP also seeks to strengthen participants’ access to customers, suppliers and enterprise networks, stressing that such connections are key to helping micro-businesses identify market opportunities and source the inputs needed to continue operating.
P360 added that its MicLAP programme is at an early stage and regular monitoring will be conducted to determine income, sales and savings, while the next phase will focus on deepening the evidence of change and strengthening the quality of coaching and market support.
