By Ere-ebi Agedah Imisi
In a bid to strengthen small businesses, improve household incomes and reduce poverty, Prosperity360, P360, a non-profit development organisation, has reached 300 micro-entrepreneurs across Adamawa, Katsina, Taraba and Lagos states, as well as the Federal Capital Territory (FCT), through its Micro-Livelihood Acceleration Programme (MicLAP).
The programme, launched in June 2026, is designed to help informal traders, artisans, food processors and smallholder farmers transform limited capital into sustainable businesses and more stable incomes through productive support, business coaching and financial planning.
This was contained in a statement by Odion Ikyo, Programs Director of P360, who disclosed that the intervention was developed to address challenges confronting small businesses, including inadequate working capital, poor record-keeping and limited financial reserves to withstand rising costs and declining sales.
Ikyo noted that Nigeria’s informal economy remains a major source of employment and livelihoods, with the National Bureau of Statistics reporting that approximately 93 per cent of employed Nigerians were engaged in informal work in the second quarter of 2024.
He explained that many micro-entrepreneurs struggle to sustain their businesses despite their efforts, as rising operating expenses and inadequate savings leave them vulnerable to economic shocks.
According to the statement, MicLAP adopts an integrated approach that combines productive resources with practical business training and regular follow-up to improve participants’ business performance and financial stability.
Under the programme, P360 assessed each participant’s business needs and challenges before developing an Individual Prosperity Plan outlining practical goals and milestones.
The organisation also supported participants in obtaining business stock, raw materials, tools and other essential inputs to sustain operations, meet customer demand and minimise disruptions caused by shortages.
In addition, beneficiaries received coaching in pricing, inventory management, record-keeping, cash management and reinvestment to strengthen their ability to monitor business performance and make informed financial decisions.
The programme also focuses on household financial resilience, helping participants improve savings, plan for routine expenses and prepare for unexpected costs. Efforts are equally directed at strengthening access to customers, suppliers and business networks to expand market opportunities.
P360 disclosed that MicLAP remains at an early stage, with regular monitoring planned to assess changes in participants’ income, sales and savings.
However, the next phase, according to the organisation, will prioritise gathering evidence of the programme’s impact, improving the quality of business coaching and strengthening market support to help beneficiaries build more resilient livelihoods.
