I Went to Nigeria to Explore How Global Trade Really Works

In Lagos' Computer Village, Nigeria's largest electronics market, everything is imported from China. But how merchants access dollars and pay their suppliers is a challenge.

Nigeria imports $20 billion from China every year, yet dollar access problems and legacy banking systems create friction for those doing global trade. 

So how do countries like Nigeria and China trade with each other?

In this episode, we head to Lagos, Nigeria, to see it firsthand - how money moves, and how new technologies like stablecoins are facilitating global trade.

In this episode of Money Trails, presented by Stellar Development Foundation.

Watch the full episode on YouTube.

00:00 - Inside Computer Village01:22 - Everything is imported from China02:32 - The Nigerian Economy03:56 - Importing phones with WeChat and Alipay05:18 - No one uses the banks for FX06:17 - Naira volatility, explained09:10 - Informal and parallel economies09:38 OTC Traders Fill the Gap11:21 - Are stablecoins the future of global trade?14:43 - Next stop: Syria

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