EXPLAINER: The Simplicity and Complexity of International Trade, By Adetokunbo Adewoyin

At first glance, international trade appears straightforward—it’s essentially the exchange of goods and services between countries. How complicated could that be? Well, it remains simple until you realise there are nearly 190 countries worldwide, each with its own unique rules and regulations governing trade.

Now, let’s add a layer of reality: value-added products often fetch better prices than raw materials. While countries like Nigeria and others across Africa are rich in…