Africa, the Sleeping Giant - Quiz How does this picture relate to the article “Africa, the Sleeping Giant?”

Capital City Niger River Most populous city

Nigeria’s Political Economy What were some of the key impacts of the oil boom on Nigeria’s political economy?

Economic gains that do not compensate those who produced them and do not contribute to productivity Typically associated with government earnings that are NOT channeled back into investments Elites gain lucrative results. Rents

Origins of Economic Decline agriculture nonfood exports Biafran War, sever drought, development of oil industry external debt and corruption Economic downturn in 1980s Origins of Economic Decline Agriculture for domestic consumption and export – self-sufficient in food production 1960s shift to development of nonfood exports through large-scale enterprises (small farmers didn’t received government support and production suffered) Biafran War (1967-1970), severe drought, and development of oil industry plummeted agricultural exports from 80% to 2% Debt skyrockets and corruption increased Full economic downturn in 1980s created more corruption In 1990s, Nigeria’s oil refineries collapse – now they have to import petroleum?????

Structural Adjustment Program (SAP) Program established by the World Bank Intent to reform economic structures of highly indebted Third World countries as a condition for receiving international loans Called for Privatization Trade liberalization Fiscal restraint Structural Adjustment Program (SAP)

International Financial Institutions Refers to International Bank for Reconstruction and Development (the World Bank) and the International Monetary Fund (IMF) Can include other lending institutions International Financial Institutions

Economic Developments President Obasanjo’s Economic Planning Paying off most of Nigeria’s foreign debts Privatization and restructuring of energy sector as constraints Expanding private sector Economic Developments

Society and Economy UN’s Human Development Index (HDI) Rising GDP Avg. achievement in life expectancy, education, and per capita income indicators 132 our of 154 Rising GDP Wealth is unequally distributed SAP – forced cutbacks in social welfare spending Land Use Act of 1978 Society and Economy Land Use Act of 1978 – all land in Nigeria is government owned; yet all land tenure follows traditional practice which is patriarchal Women in the south and Middle Belt usually dominated agriculture; women also dominate in trading Only about 5.75% of the national legislators are females

Economic Community of West African States (ECOWAS) A West African regional organization that includes 15 member countries 2000 – created a parliament and single currency Can travel and trade across member state borders freely Nigeria keeps organization afloat. Treaty of Lagos – economic integration across the region; collective self-sufficiency; peace-keeping force West African Economic and Monetary Union (French, CFA franc) and West African Monetary Zone (English, eco) Nigeria holds 35/115 parliament seats

Boko Haram Group 1: Ideology Group 2: History Group 3: Location and activity Group 4: Recent news story