Did you know that when stats about economies are posted, the 'informal sector' isn't counted.

in reality the economic stats we are getting for nigeria are based on businesses that
1. pay tax
2. are registered
3. report earnings.


the problem, 90% of the domestic nigerian economy has nothing to do with this 'formality'.
the economic activities of markets for instance all through out nigeria aren't counted as a part of the economy and are statistically non existent because they are 'informal'
same with containers and small scale farms
and small businesses in nigeria like okadas danfos ect.


what i have listed above, informal transport, small scale farms markets and containers, is probably 80% of economic activity in nigeria.

all the international statistic agencies make it clear that you cannot count the informal sector of any economy as a part of the economy.


that's why i believe nigeria, with ease, is wealthier then south africa. Almost all of Lagos is 'informal' let alone the rest of nigeria.