Nigeria society

By Kevin Daly, Aberdeen Asset Management

If you are a young Nigerian, life was already hard enough before the price of oil collapsed and Boko Haram established themselves as a real threat to Africa’s largest oil producer. The country’s now delayed elections are unlikely to improve their lot or that of weary investors.

For years Nigeria’s 170m people have laboured to overcome endemic power shortages, a lack of jobs, crippling corruption and institutions which have persistently failed to serve them. Nigeria’s own statistics agency found that 61 per cent of Nigerians lived on less than a dollar a day in 2010.

Electricity consumption per head of population is around 149 kw-hour (Mexico’s, by comparison, is over 2,000 kw-hours). Former central bank Governor Lamido Sanussi was sacked last year after exposing a multi-billion dollar subsidy racket involving the state oil company. Read more

A female student stands in a burnt classroom at Maiduguri Experimental School, a private nursery, primary and secondary school burnt by the Islamist group Boko Haram to keep children away from school in Maiduguri, northeastern Nigeria  May 12, 2012.Nigeria has been so repeatedly afflicted by acts of violence by sectarian groups, as well as Islamist movement Boko Haram, that pouring through news reports, it’s hard to get a handle on the situation. Which regions are worst affected? Who is responsible? And is the problem getting worse?

Helpfully, the Council on Foreign Relations has released it’s Nigeria Security Tracker, which sheds light on the problem. Read more