Informal Economy // Artist: Stephanie Itimi
Creating art through the use of photography, the Informal Economy art collection showcases the labourers within the shadow economy and the products they sell. The informal economy, informal sector of the economy, or grey economy is the part of an economy that is neither taxed nor monitored by any form of government.
"Nigeria has the largest informal sector in Africa, which stems from various factors such as high unemployment rates (12.9%), high population rates (153.9 million) and high poverty rates (54%)" - CBN, 2009
"The informal sector is often by policymakers as its impact is on development tends to be undervalued, hence the negligence in development policies."
Stephanie Itimi, The Informal Sector in Nigeria and its impact on Development