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

2. Capital City
Niger River
Most populous city

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

4. 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

5. 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 ( ), 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?????

6. 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)

7. 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

8. 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

9. 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

11. 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

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