Presentation is loading. Please wait.

Presentation is loading. Please wait.

Nigeria: Political and Economic Change

Similar presentations

Presentation on theme: "Nigeria: Political and Economic Change"— Presentation transcript:

1 Nigeria: Political and Economic Change
Brian Huang

2 Outline: The Three Eras
Pre-colonial ( ) Colonial ( ) Modern Nigeria (1961-present) Four republics

3 Pre-colonial Era ( ) Fulani establish the Sokoto Caliphate in the north (1808) Traded with Northern Africa Southern Nigeria was part of the Atlantic Ocean trade Slave trade Driven by demand for western goods Ended in 1833

4 Colonial Era (1861-1960) British imposed “indirect rule” (1860)
Trained, southern natives filled the European- style bureaucracy British left the Islamic north alone—leaving the established political hierarchies Lagos was a trading outlet: resource rich and cheap labor

5 Mercantilism Nigeria exported raw materials to Britain
Imported finished goods from Britain 1939 Economic focus: Peanut north, Cocoa west, Palm oil east Contributed to the modern troubles in industry and service sectors

6 Independence from Britain
October 1, 1960 Causes Effects Western Education and the creation of a literate population Economic instability Constitution set in place Intensification of ethnic cleavages Developed government structure Power struggle Nigerian desire for independence

7 Modern Nigeria (1960-present)
: 1st Republic: Parliamentary system : Coup d'états and assassinations Failed 2nd and 3rd republics 1999-present: Presidential Democracy Election fraud and violence National Question: “Can Nigeria survive on its own?”

8 Timeline of Power Years Ruler Type of Government 1960-1966
Tafawa Balewa Republic 1966 Johnson Aguyi-Ironsi Military Dictatorship Yakubu Gowon Murtala Muhammed Olusegun Obasanjo Shehu Shagari Presidential Democracy Muhammed Buhari Ibrahim Abangida Sani Abacha Umaru Yar’ Adua 2010-Present Goodluck Jonathon

9 1979: Democracy 1999: Democracy 1983: Military Coup 1993: Military Coup 1985: Military Coup

10 Corruption Stems from oil
Military presidents maintained foreign bank accounts stowing away Nigerian funds Abacha: $500 million in Swiss Accounts Nigerian elite received funds by patron client system Caused: voting fraud and political instability Desperately needed: increased transparency

11 Oil Economy 1970s: oil prices boom 1980s: oil prices plummet
Everything is focused on oil Lack of advancement in other sectors of the economy like agriculture 1980s: oil prices plummet Economy tanks because of the lack of advancement in other sectors Challenge to balance long term economic logic with immediate social needs Main exports: minerals, natural gas, petroleum, and oil

12 Oil Profits Corporations (Exxon Mobile, Shell, ChevronTexaco, etc.) drill oil reserves and receive 43% of the profits Nigerian Profits: 80% government, 16% operational costs, 4% investors Less to the north Leaders are rent-seeking

13 Nigerian Debt Accumulated $35 billion in debt from international organizations (World Bank and IMF) Paid Paris Club $12.4 billion for $30 billion in debt (2006) Effects: Removes the barriers of debt, providing economic momentum to shift the focus away from oil; attracts foreign investors Current debt: $15.73 billion (2014)

14 Current Statistics GDP: $478.5 billion (2013)
GDP per capita $2,800 (2013) 31% agriculture, 43% industry, 26% services (2012) 70% live below the poverty line (2010) GINI Index 48.8 (2010)

15 A = Agriculture, Hunting, Forestry and Fishing
GDP Breakdown (2012) From Euromonitor A = Agriculture, Hunting, Forestry and Fishing B = Mining and Quarrying (including oil and petroleum) C = Wholesale and Retail Trade; Repair of Motor Vehicles, Motorcycles and Personal and Household Goods D = Financial Intermediation, Real Estate, Renting and Business Activities

16 Privatized Industries
Military coups nationalized most industries 1992 – Privatization of 73 companies (insurance, banking, etc.) 1990s – Electricity and Telecommunications privatized by advice of IMF and World Bank

17 Modern Reforms New Partnership for African Development (NEPAD) encourages good governance, promotes foreign investment, increases in foreign aid, and liberalizes trade (2001) National Economic Empowerment and Development Strategy (NEEDS and SEEDS) empower citizens by promoting agriculture and improving water and electricity supplies, communications, roads, schools and health facilities (2004)

18 Russia and Nigeria Chechen Civil War and the Biafran Civil War
Ethnic cleavages affect politics

19 China and Nigeria China established a national (communist) ideology which serves to unite the ethnic groups Nigerian rulers have never established an ideology; it has been military coup after military coup Nigeria, without an ideology, cannot stop fragmentation

20 UK and Mexico and Nigeria
UK and Mexico have had more time to establish democracy and institutionalize the government Curse of Oil in Nigeria and Mexico Mexico has debt, but is backed by the United States Nigeria’s debt is in the World Bank and other international organizations ~Gini as Mexico

Download ppt "Nigeria: Political and Economic Change"

Similar presentations

Ads by Google