Democracy had been restored, with its economy reopening after decades of mismanagement and plunder under military dictatorships. Instead, policy missteps, entrenched corruption and an over-reliance on crude oil mean that a country that makes up a quarter of the continent’s economy, risks becoming its biggest problem. Under British rule, Nigeria’s three main regions, divided along ethnic and religious lines, were awkwardly sandwiched together in a 1914 amalgamation. Since independence in 1960, elites from the largely Christian south west and south east have tussled for power with the Muslim north. Without key reforms, Nigeria’s economy will remain anemic, expanding little more than 2% this year and next, still below the population growth rate, according to the International Monetary Fund.

Source: News 24 June 15, 2021 10:18 UTC