Nigeria at 50: it is Africa's biggest democracy and most populous nation, and is renowned for its rich culture and entrepreneurial 'can do' people that make no secret of their aspiration to become the continent's economic powerhouse. But how far has Nigeria fulfilled its promise over the past half century? Sarah Rundell discusses.

African BusinessNbr. 2010, January 2010

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Special Report

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Nigeria at 50: it is Africa's biggest democracy and most populous nation, and is renowned for its rich culture and entrepreneurial 'can do' people that make no secret of their aspiration to become the continent's economic powerhouse. But how far has Nigeria fulfilled its promise over the past half century? Sarah Rundell discusses.

Nigeria has come a long way since it won independence from Britain 50 years ago this October. Milestones include the country becoming the first African nation to pay off its multibillion dollar debt burden, prompting a rush of foreign investment and enabling more government spending on crucial infrastructure, health care and education.

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In the last 50 years Nigeria has become one of the world's biggest oil exporters, having experienced an oil boom in the 1970s. Now buoyant prices have helped fuel economic growth. An amnesty in the oil-producing delta has delivered a...

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