Sunday, February 6, 2011

Why does Nigeria Matter and why would they teach it at Harvard?

One could be excused for asking why Harvard would teach about Nigeria.
Very interesting facts, including that in 10 years they have gone from 7oo,ooo cell phones to 110 million, in a population of 150 million!
The fact that most of the population does not have power, but the government run power industry is about to be privatised.

The most compelling part of the case for me was the fact that Nations such as Nigeria that have massive oil revenue, can become too dependant on that revenue, their currency can rise, damagong most other exports and local industry, leaving the country with what's called the Dutch Disease" The same thing happenned to Holland with the North Sea oil in the 80's .
One can only think that Australia is at risk now with massive iron ore and coal exports and already a high dollar with many industries suffering, such as tourism.

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