Vice President Kashim Shettima has called for the urgent integration of Africa’s vast informal economy into the formal intra-African trade framework, describing it as critical to unlocking the continent’s full economic potential.

Speaking on Monday at the opening of the 4th African Union Micro, Small and Medium Enterprises (MSME) Forum in Abuja, Shettima stressed that Africa’s prosperity hinges not on its skyscrapers or stock markets, but on harnessing the power of the informal sector which accounts for nearly 90 per cent of the continent’s workforce.

“If we fail to bring our informal economy into the framework of formal intra-African trade, we will remain trapped in a cycle of underdevelopment,” the Vice President warned. “There can be no African prosperity without a strong MSME ecosystem.”

Shettima emphasised that Nigeria, under President Bola Tinubu’s administration, is prioritising small business growth through expanded investments and inclusive economic policies. He noted that MSMEs in Nigeria contribute 48% to the GDP and employ more than 84% of the workforce.

“This forum is a continental call to action,” he said. “It must mark a turning point where our shared aspirations are translated into concrete actions that empower MSMEs and lead Africa to a sustainable future.”

Welcoming delegates from over 50 countries, Shettima conveyed President Tinubu’s message of support and commitment to intra-African collaboration, saying Nigeria is ready to learn, share and lead in efforts to build a competitive continental economy.

Beyond investments in infrastructure and digital tools for entrepreneurs, Shettima urged African leaders to embrace cross-border partnerships, pointing to AfCFTA as a powerful tool for continental transformation.

While acknowledging the growing digital adoption across Africa, the Vice President called for improved access to finance, digital literacy, and regulatory reforms that promote, rather than stifle, innovation.

He highlighted the emerging role of fintech in providing alternative credit assessments to empower previously excluded MSMEs.

Earlier, the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, described the forum as a platform to advance inclusive prosperity, saying empowering MSMEs is key to achieving “the Africa we want.”

Presidential Adviser on Job Creation and MSMEs, Temitola Adekunle-Johnson, and SMEDAN DG Charles Odii both highlighted Nigeria’s policy focus on local production and entrepreneurship as foundations for sustainable growth.

Similarly, Bank of Industry MD, Dr. Olasupo Olusi, noted that tailored interventions have improved digital readiness and productivity among small businesses.

The EU’s Head of Cooperation in Nigeria, Mr. Massimo De Luca, announced a €1.1 billion support package for the AU’s AfCFTA agenda, while praising Africa’s strides in economic integration.

UNDP’s Nigeria Representative, Elsie Attafuah, echoed the call for enabling ecosystems to move MSMEs “from resilience to scale,” while AU6RG Ambassador Afolabi Oke announced Adekunle-Johnson’s appointment as Special Adviser on Job Creation and MSME Development.

Also speaking, NEXIM Bank’s Managing Director, Abubakar Bello, stressed the need for Africa to scale up local production and develop value chains to drive the success of the AfCFTA.

As the five-day AU forum continues in Abuja, stakeholders expressed optimism that coordinated action, strong leadership, and innovation will position Africa’s MSMEs as engines of prosperity.