9/3/2023 0 Comments Nigeria oil blocks mapArmed conflicts are taking place, especially in northern Nigeria, and the security situation is tense. ![]() Numerous regional militant groups – both religious and ethnic – are challenging the government’s power. The economic centre of Lagos and the rich oil fields are located in the south of the country, while the rural north has little involvement in the economy. In addition, there is an uneven regional distribution of resources. More than two thirds of the population live in extreme poverty. Although the economy is gradually recovering, as in the past, not everyone is benefiting from this and the global effects of the war of aggression on Ukraine are dampening the economic outlook. The COVID-19 pandemic has also hampered economic development. As early as 2014, Nigeria overtook South Africa as the continent’s most powerful economy.īut several trends led to a recession: the falling oil price and the decline in the value of the national currency. The economy relies on natural resources and the extraction of rich oil resources. After long periods of authoritarian rule, the country returned to democracy in 1999. In order to serve everyone, the political system is very federally structured. ![]() ![]() The more than 200 million people speak over 500 different languages and include 250 ethnic groups. At the same time, almost half of the population of West Africa lives here. Nigeria is the most important economic driver in Africa.
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