| Overview on Nigeria | Nigeria is a former British protectorate. It gained full independence in 1960. It is the most populated state in Africa with over 236 million people. The population is very diverse. There are about 250 ethnic groups. It is also home to some of the world's largest Muslim and Christian population. Muslims are mostly in the North, while Christians are mostly in the South. | Regionally, Nigeria plays a key role. It dominates the Economic Community of West African States both on an economic and military level. It has led peacekeeping missions (Sierra Leone, Liberia) and sanctions against military juntas (Mali, Niger). | Nigeria has a key geopolitical role and huge economic potential. But the recurring insecurity issues and internal fragmentation hinders it. | | | | Congress to feature Trump on $100 Bill?
A shocking new plan was just introduced in Washington. The idea is to celebrate Trump's new "golden age" by placing him on the $100 bill.
As you'll see, it has little to do with the new Crypto Reserve…
Or Trump's ambitious plan for Artificial Intelligence…
Former Presidential Advisor, Jim Rickards says, "Trump's crowning achievement will be much, much bigger."
In the months ahead, he predicts, the government will release a massive multi-trillion-dollar asset which it has held back for more than a century. And this will give ordinary investors a chance to strike it rich.
Click here to see the full details. | |
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| Economy and resources | In Africa, Nigeria is a leader in several industries. These include energy and financial markets. It has a well-developed financial services sector which includes: | - Local and international banks | - Asset management companies | - Brokerage houses | - Insurance companies | - Private equity funds | - Investment banks | Its economy also relies a lot on remittances from the diasporas. Plus, a quarter of the GDP relies on agriculture, forestry, and fishery. The state has a coastline on the Gulf of Guinea giving it access to resources and shipping lanes for international trade. But the major source of income relies on oil and gas. | Oil. Nigeria is one of Africa's top oil producers and reserves holder. It is the world's 15th largest producer, 6th largest exporter and 9th largest proven reserves. Oil represents about 80% of government earnings. There are about 159 oil fields and 1481 wells in operation. They are mostly small and scattered. But security issues have led to disruptions in the production, mostly due to oil theft. Indeed, about 120 thousand barrels per day are stolen in the Niger Delta region (main producing region). It reduces exports and Nigeria has not met the OPEC quota in the past months. | Gas. Nigeria has the largest world's 9th largest proven gas reserves. It holds the largest reserve in Africa. It has two main categories. The associated gas found alongside oil in the Niger Delta. Plus, standalone gas fields, offshore and inland. Nigeria is shifting towards exploiting these latter more. The state exports gas mainly as LNG. Main buyers are Europe and Asia. | But Nigeria faces many challenges on these productions. These include oil theft. But also, infrastructure damage. These security issues have led some companies to divest their interest. Shell for example is selling many onshore assets due to insecurity. | Other resources. Nigeria has large reserves of unexploited resources. These include coal, bauxite, tantalite, gold, iron ore, limestone, niobium, lead, and zinc. Regulated mining has decreased. There only a few mines operated legally. But there are a lot of illegal mining activities. These resources fund criminal groups. They often employ underage workers. Working conditions are poor and deadly accidents often occur. | Geopolitical importance | For Europe, Nigeria's resources are a key alternative to Russia's in the context of sanctions and boycotts due to the war in Ukraine. Plus, Europe need to cooperate with the state of migration issues. Nigeria is a key migration hub. Many migrants trying to reach Europe comes from there. It is also a transit country for West Africa. Instability in Nigeria increases the migration wave towards Europe. | The country also has security partnerships with the U.S. and UK. They cooperate on fighting terrorism. The U.S. launched strikes in December and soldiers were recently sent to Nigeria. This deployment was a request from Nigeria's general staff. The goal is to support the national forces with training, technical support, and intel. They are advisers, not combat troops. Trump claimed that Christians were victims of genocide in the country, justifying U.S. moves. As a matter of fact, both Christians and Muslims are indiscriminately targeted by terror groups. | China has invested in infrastructure projects. These include railways, ports, and telecoms. This a part of China's plan of expanding its economic footprint. | Russia has growing influence. It played a key role in the broader region, mostly Sahel. Through influence operations it managed to get a grip on many states' authoritarian leaders. It drove France out of the region. It also further destabilized the region with the Wagner, supposed to tackle terrorism more efficiently than France. | Security challenges | In the Niger Delta, oil-rich region, there are issues over land rights and pollution. Many locals oppose oil and gas companies. Local groups often carry out attacks on pipelines and facilities. There is also a large part of illegal oil refining and theft. | In the southeast region, the Biafra ethnic group threatens territorial integrity. Its goal is to become an independent state. There has been a deadly civil war in the 70's over it. Now, there are still clashes with government forces. | In the northern region, there are three main issues. Violence over land use and resources often happens. There are also criminal activities like kidnapping, extorsions and village raids. These acts are not ideological. There are driven by poverty and weak state control. | But one big issue is the presence of jihadist groups. Boko Haram (BH) has been destabilizing the Laker Chad region for more than 15 years. It follows an anti-West, anti-governance, and extreme jihadist worldview. It relies on mass killing of civilians, village massacres and attacks on schools and churches. It pledged allegiance to ISIS. But there was a split later due to diverging strategies between the leaders. Another group, loyal to ISIS emerged: ISWAP. ISWAP tactics focuses more on military targets. It seeks to project itself as an alternative authority to the government. To do that, ISWAP tries to win hearts and minds of local population. The threat caused both by BH and ISWAP affect Nigeria's security. But it also has impacts on neighboring states like Chad, Niger, and Cameroon. | Nigeria has one of the largest militaries in Africa. But it still struggles to tackle these issues. Plus, it also struggles with internal issues such as corruption, poor logistics and human rights abuses. | Nigeria's future will depend on whether it can restore state authority. The main risks include the expansion of jihadist safe havens, further state fragmentation, and energy sector decline. | Decoding geopolitics isn't a job. It's survival. | Joy |
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