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Africa: Africa's economies

Eliesmith writes about the 2006 African Development Indicator, “According to the report, the Federal Republic of Nigeria and the Republic of South Africa have retained their dominant positions on the economies of sub-Saharan Africa. Both countries account for 55% of the GDP of the region.”

4 comments

  • Monday Akintuyi

    Nice job for your commnets on the economies of african countries,i do have a very strong persuasion that the Nigerian economy is taking a positive turn among other countries in the continent and may soon become the largest of its kind if the government and its successor in the next year election has similar motivation as the current administration in fighting corruption and building the economy because Nigeria already has what it takes. Nigeria has just experience only eight years of democracy after a long period of military rule and corruptions and the economy has been growing at a very fast pace, however if nigeria can have more years of democracy like that of south africa and other countries, then it may become the giant of the continent’s economy.

  • Joseph Conrad

    As a US member of Africa’s ‘Dispora’, Nigeria’s economic future holds considerable promise. Yet it will not achieve its potential if:
    1. It does not develop the kind of high quality electrical, industrial, educational, healthcare and transportation infrastructure a modern nation must have to survive.
    2. Its tribes and ethnic groups continue to kill each other over @#$%&! If one group/tribe comes to dominate but destroys the nation in the process, all Nigeria’s natural and human assets will be worthless!
    3. It continues to contaminate its Niger River Delta! It MUST move the petroleum pipes and pumping sites away from the Delta or risk destruction of its Nationhood!
    4. It does NOT forge a HARD DEAL with the current US and foreign oil companies to (a) CEASE ‘blowing off’ the LNG!; (b) FOULING the Delta; and (c) BUILDING REFINING FACILITIES AT THE SAME TIME THEY INSTALL ‘I’M TAKING YOUR OIL FOR A PITTANCE’ SYSTEMS
    5. It doesn’t begin to respond opportunistically and selfishly to the profound FEAR US Wealthy and European Wealthy are showing regarding the potential they will lose ARAB OIL!
    6. Nigeria does WAKE UP AND TAKE THE LEAD IN FORGING A POWERFUL, FAIR-MINDED ‘CONSORTIUM’ OF AFRICAN OIL PRODUCERS THAT WILL ENSURE ALL AFRICAN NATIONS HAVE CONSTANT RELIABLE ACCESS TO OIL AT A FAIR PRICE!

    Last and most importantly, LEAVE OPEC AND JOIN WITH YOUR OIL-PRODUCING NEIGHBOR STATES! Otherwise, US, Chinese and European Oil Companies will Suck You Dry and Leave Your Nation Broke with No Oil! (That’s their gameplan!)

    Still, Nigeria & Nigerians should be proud! It and its neighbors survived 300 years of the Slave Trade and another 200 years (1800’s to the Present) of Colonialism and NEO-Colonialism! Now, it must take REAL control of its OIL and other Natural Resources and demand a MUCH FAIRER price for them – starting TODAY! (I’m a dreamer what can I say…)

  • joe

    I have to agree that the future looks rosy for Nigeria and SA. However, it will be a very long time if ever before Nigeria catches up with SA. Granted they have population on their side, but SA is streets ahead and moving fast.

  • MONDAY AKINTUYI (USA)

    It will be a great mistake to judge the future of nigeria by only what we can see now without considering the potentials for greatness at her disposal. Nigeria and Nigerians have what it takes to become the long envisaged “giant” of the continent in terms of everything. Let us not be too pessimistic and full of negative complains about our nation, it is the only home we have and none other, our confession, wishes and prayers matter a lot for the greatness of this nation at this critical point. Moreover, every nation do have her difficult time (for example, the United States of America went through recession) but the outcomes depend on how well the people work together to overcome the challenges.Meanwhile, may God bless Nigeria and all those who love her peace.

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