Moniepoint has introduced “M,” an artificial intelligence chatbot positioned as Nigeria’s first tool dedicated to decoding the informal economy. The debut coincided with the release of the second Nigeria Informal Economy Report, drawing formal commendation from the Federal Government. The launch framed data, policy, and technology as mutually reinforcing levers for a sector that remains central to national growth.
A First for Nigeria
“M” is designed to turn complex datasets about traders, artisans, and micro-enterprises into clear, conversational answers. The product arrived alongside Moniepoint’s tenth-anniversary milestone and the latest iteration of its sector report. Vice President Kashim Shettima, represented by the Minister of Industry, Trade and Investment, highlighted the move as aligned with national priorities for inclusive, evidence-based policymaking.
How the Chatbot Works
Built on large language model technology, the chatbot responds to natural-language questions with accessible explanations and relevant context. It targets users across policy, academia, media, and everyday entrepreneurship, aiming to translate dense statistics into practical guidance. Moniepoint frames the tool as a bridge between raw data and real-world decisions, not a replacement for human judgment.
Government Perspective
Officials at the launch underscored the informal sector’s outsized role in Nigeria’s resilience, creativity, and enterprise. They emphasized that millions of people power commerce daily in ways that are often invisible to formal data systems yet remain indispensable. The administration’s message was clear, use timely insights to shape inclusion strategies that meet the sector where it operates.
Report Focus and Insights
The 2025 report extends analysis into unemployment dynamics, taxation burdens, savings behavior, and day-to-day business operations. Moniepoint’s leadership characterized the informal economy as a living system that adapts quickly but still faces fragilities that policy must address. Pairing the report with “M” is intended to close interpretation gaps by letting users interrogate the underlying data directly.
Sector Context and Stakes
Nigeria’s informal economy is estimated to represent more than 65 percent of national output, making it one of the largest in sub-Saharan Africa. That scale sets the stage for digital tools that lower information frictions and improve access to finance, markets, and services. If widely adopted, such tools can tighten the feedback loop between micro-level activity and macro-level policy.
Moniepoint’s Scale and Evolution
The company marked a decade of operations, reporting more than 10 million active business and individual users. It processes over one billion transactions monthly and has facilitated payments exceeding 22 billion dollars across its platform. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has shifted from building bank infrastructure to running a broad business payments and banking platform.
Strategy and Policy Alignment
Looking ahead, Moniepoint plans to deepen public-private partnerships to support a more digital, data-driven economy. The company says these efforts align with Nigeria’s Renewed Hope Agenda, which targets a one trillion dollar economy by 2030. Success will hinge on ensuring that digital rails, credit channels, and identity frameworks are interoperable and trusted by small firms.
Industry Reception and Next Steps
At the launch, government agencies and partners stressed the need to expand access to finance and markets while lowering operating costs. Stakeholders pointed to signs of progress, including increased formalization and wider use of digital tools, alongside persistent gaps in affordable credit and regulatory clarity. The panel consensus was that actionable data, paired with coordinated policy, can accelerate outcomes for micro and small businesses.
With “M” and an updated sector report, Moniepoint is positioning itself as both operator and knowledge partner in Nigeria’s economic transformation. The real test will be whether the chatbot remains current, transparent, and effectively integrated into program design across ministries and markets. If those conditions hold, the initiative could move insights from reports into decisions that compound over time.