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Showing posts from November, 2023

The Informal Sector: The Backbone of Nigeria's Economy

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  https://global.ariseplay.com/amg/www.thisdaylive.com/uploads/b62dcef5-pension-pix-2.jpg In the bustling streets of Lagos, the vibrant markets of Kano, the industrious areas of Onitsha and the rural villages that dot the Nigerian landscape, a dynamic economic force thrives, often overlooked yet undeniably influential. This is the informal sector. The Nigerian economy is characterized by a vibrant informal sector, which operates outside the formal regulatory framework. This sector is composed of small-scale, unregistered enterprises. The lady that sells roasted corn on the roadside or "mama put", the roadside mechanic, "mai shayi", and the street affiliate marketer aka "oso ahia", can all be classified as informal workers. Despite its undocumented nature, the informal sector plays a pivotal role in the economic development of Nigeria. It provides employment opportunities, generates income and fosters entrepreneurial spirit, thus making it an undeniably inf...

Leadership sans frontière: Why Nigeria Must Lead the Way in Intra-African Trade

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  In today's interconnected world, the concept of international trade is not new. Nations have been engaging in the exchange of goods and services for centuries. However, when it comes to trade within the African continent, there is still enormous untapped potential. Nigeria, with its population of over 211 million people and its booming economy, is the largest economy in Africa. It is also a major player in global trade. However, Nigeria's intra-African trade is still relatively low, accounting for only about 13% of its total exports in 2020. This is in contrast to other regions of the world, such as the European Union, where intra-regional trade accounts for over 70% of total exports. Nigeria, as the most populous and economically influential country in Africa, has a crucial role to play in leading the way in intra-African trade. There are a number of reasons why Nigeria must take the lead in intra-African trade. First, it is essential for the economic development of the enti...