Nigerian giant

Readers' Views No 297, Q4 2013
OECD Observer

Your view of Africa offers encouragement (Africa's century? No 296, Q3 2013). But it is hard to see how countries there can rise up so-called global value chains without some major economies sorting themselves out first.

If there is one country which should do this, it is Nigeria. It is by far the largest country by population; with 170 million and growing, it is three times bigger than South Africa, twice the size of Egypt and the seventh biggest in the world. It has oil and other natural resources, a rich past and a legacy of doing business with the west.

But it is torn by corruption and mistrust, and western governments and businesses are not innocent in this. OECD countries should make more effort to help Nigeria sort out its issues now that the economy is looking stronger, and then issues like value chains will take care of themselves. Africa needs Nigeria to do well.

—Melvin Jack, Owerri, Nigeria

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©OECD Observer No 297, Q4 2013

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

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