The shadow state: Africa’s informal economy reveals systems that actually work

    Dr. Bunmi Oyinsan | YSOT | May 04, 2026    
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At Alaba International Market in Lagos, transactions worth millions of naira are completed daily, without formal contracts, without bank guarantees, and often without written records. Goods move across cities and borders. Credit is extended, disputes are settled and business is done. In Onitsha, traders run supply chains that stretch well beyond Nigeria. A young apprentice, with no collateral to speak of, is absorbed into a commercial network, trained over time, and eventually established on their own. 

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