Abuja: Mrs. Abisayo Busari-Akinnadeju, the Founder of the Accelerating Business Access (ABA) project, has announced that the initiative aims to unlock entrepreneurial potential and address the human development crisis within Nigeria’s informal sector. During a news conference and unveiling of the ABA for Africa project in Abuja, Busari-Akinnadeju emphasized the critical role the private sector plays in sustaining the economy through resilience and ingenuity, despite being excluded, underserved, and largely invisible.
According to News Agency of Nigeria, Busari-Akinnadeju highlighted that while the informal sector employs up to 80 percent of the labor force and contributes more than half of the Gross Domestic Product (GDP), it is plagued by significant vulnerabilities. Many businesses in this sector operate at a survival level, lacking legal recognition, access to credit, or social protection. A single illness, accident, or day without sales can potentially erase years of hard work, underscoring what Busari-Akinnadeju described as a human development crisis, not just an economic problem.
The ABA project is designed to bridge the gap between the resilience of entrepreneurs and the systems needed to unlock their growth. The vision of the project is to transform exclusion into inclusion, replace survival with dignity, and convert hidden potential into national prosperity. This will be achieved through three interconnected pillars: Formal Identity and Recognition, Digital and Financial Empowerment, and Access to Capital and Ecosystem Support.
Busari-Akinnadeju explained that without legal recognition, businesses are denied growth opportunities. Thus, ABA will collaborate with the Corporate Affairs Commission to make formalization both accessible and affordable. The project will also offer practical, hands-on financial education and digital onboarding, teaching entrepreneurs how to take loans, manage finances, track sales, and grow sustainably.
The ABA project will commence with a pilot program in Nasarawa, the Federal Capital Territory (FCT), and Ondo State, strategically chosen for their diversity and potential. Busari-Akinnadeju noted that with new tax reforms, Nigeria has entered a new fiscal era, where many entrepreneurs view these reforms as burdensome. The ABA aims to build trust and create pathways to opportunities and dignity.
Busari-Akinnadeju called on policymakers, finance and business partners, media, and other stakeholders to support ABA in building an inclusive model that ensures no entrepreneur is left behind.