In terms of electricity production, Nigeria’s power sector faces many challenges. According to June 2012 remarks by Bart Nnaji, the former minister of power, the Power Holding Company of Nigeria (PHCN), which is being unbundled, had debts of N400bn ($2.56bn). With its own plants gas-fired, PHCN had been paying just 50% of what it owed for that gas...
The fate of Nigeria’s economy has long been intertwined with the trajectory of its single-largest export: oil. As a result, the country is sensitive to the ups and downs of the global crude market, which can have significant repercussions on domestic growth and capital accumulation. Oil prices thus play a crucial role in underwriting both the short-...
Across Libreville, Gabon’s economic and political capital, construction is booming. New apartment projects stand beside office-tower scaffolding. Outside the city centre, ground is being cleared beside the village of Nkok to make way for large industrial projects in the newly inaugurated special economic zone. Inland, mining projects across the...
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