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Tuesday, June 5, 2007

nigerian future (?)

'That's important, because Nigeria earns 86 percent of its export revenue from oil, focusing its new leaders on the challenge of pacifying the country's oil-rich Niger Delta region. In coming months, the new leadership will likely restore the flow of substantial amounts of Nigeria's crude by approaching local militia leaders, who are only too glad to be rid of outgoing President Olusegun Obasanjo, with a mix of carrots and sticks. Obasanjo spent more of Nigeria's resources on fighting the rebels than on investments in new infrastructure. But the rebels have good reasons to cut a deal with his successor. (Slate Magazine article). Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The president faces the daunting task of rebuilding a petroleum-based economy, whose revenues have been squandered through corruption and...



GDP: $125.7 billion
Economy Description: N/A
Country Budget: revenues: $11.78 billion expenditures: $11.47 billion, including capital expenditures of
External Debt: $30.55 billion
Unemployment Rate: N/A
Per Capita GDP: $1,000
Population Below Poverty Line: 60%
Military Expenditure: $544.6 million
Military Expenditure Ratio: 0.8%


Homicides per 100,000 population: N/A
Incarcerations per 100,000 population: 31
Corruption Perceptions Index (CPI)
[1.3=highest perceived corruption; 9.7=lowest perceived corruption]: 1.6
Illicit Drugs Overview: a transit point for heroin and cocaine intended for European, East Asian, and North American markets; safehaven for Nigerian rcotraffickers operating worldwide; major money-laundering center; massive corruption and criminal activity; remains on financial Action Task Force Non-Cooperative Countries and Territories List for continued failure to address deficiencies in money-laundering control regime

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