Economists estimate that Nigeria’s informal economy is at least as big as the country’s roughly $200 billion formal one. But the country suffers from poor roads, chronic power outages and dirty drinking water. Enforcement efforts that would bolster government revenue have been erratic. Tax enforcement only recently began in Lagos but is essentially nonexistent elsewhere in the country.
An Austrian trade commissioner in Nigeria is credited with kick-starting the lace trade between the countries in the 1960s, after he noticed that Nigerians are particularly fond of dressing up on special occasions. The countries now conduct an estimated €26 million ($37 million) a year in lace trade, according to the Austrian Embassy in Nigeria.
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Watch the Austrian Lace Documentary below
thats how we nigerians do it!