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This R&D provides resources on Nigeria’s anti-corruption fight. President Muhammadu Buhari was elected earlier this year due in part to making corruption a focal point of his campaign. Economists estimate that Nigeria loses billions each year due to corruption and Buhari has recently taken the controversial step of not naming a national oil minister. Most of the corruption that takes place in the country takes place in the oil sector.
Muhammadu Buhari is in no rush. But for Nigeria, his patience might be a virtue http://t.co/J0xE4HCisp pic.twitter.com/sZWFiBV6uj
— The Economist (@TheEconomist) October 14, 2015
Can Nigeria’s new government overcome its old corruption? http://t.co/94lZ2NFECF
— The New Yorker (@NewYorker) October 15, 2015
.@OxfamAmerica asks: Where does the money from oil-producing developing nations go?—http://t.co/7y5OYETLUF pic.twitter.com/lMVc9jrIWq
— Global Citizen (@GlblCtzn) October 15, 2015
Today’s R&D covers Boko Haram, an Islamic militant group in Nigeria. The group, whose name translates roughly as “Western education is forbidden” – it literally translates as “Fake education is forbidden” – is seeking to establish an Islamic state. Their power base is in northeastern Nigeria. Boko Haram has been fighting the Nigerian government since 2009 and its activities have led to the deaths of more than 5,000 people. Last November, the U.S. State Department listed Boko Haram as a terrorist organization.
Last week, Nigeria announced the results of the rebasing (changing the weights given to different sectors of its economy) of its Gross Domestic Product (GDP). International observers expected the rebasing, which had not taken place since 1990, to add significant value to the nation’s economy, but they did not anticipate that it would add 89% to Nigeria’s existing GDP and make it Africa’s largest economy. The rebasing suggests that the Nigerian economy is worth $510 billion versus $370 billion for South Africa, who had long held the title of Africa’s largest economy. However, although the GDP figures suggest that Nigeria is a nation on the rise, the country confronts a domestic Islamist insurrection, corruption problems, and rampant poverty. Fixing these problems will be important if Nigeria wants to become a leading power on the African continent and an influential international player.
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