AfrangO Community Content

  • DEMOCRATIC REPUBLIC OF THE CONGO
  • +27725978754
PUBLIC PROFILE

Influence of Economic Activities in Nigeria and the DRC: could bilateral cooperation be improved?

Posted by BYELONGO ELISEE ISHELOKE on 20 July 2022, 23:30 SAST
BYELONGO ELISEE ISHELOKE photo

1. INTRODUCTION

Nigeria has huge geo-resources including gas and is the 10th largest oil reserves in the world (PWC., 2019: 19). It is the first economy of Africa (the most populated country in the continent), but this does not mean the people are out of poverty. The recent violent protests speak volume about the prevailing situation of economic inequality in that country. The petroleum industry makes an insignificant contribution to the economy of Nigeria (+- 10% of the GDP) based on comparisons with other nations. Compared to other petrol states or oil-driven economy such as

3

Kuweit (50% of the GDP), Saudi Arabia (42% of the GDP), and UAE (70%) one can say that the impact of oil activities in Nigeria is insignificant (Omoregie, 2016; Uwakonye, Osho and Anucha, 2006; PWC., 2019). As far as Nigeria is concerned, the biggest hindrance to performance in the oil sector is insufficient or the lack of domestic petroleum refining capacity – it is similar to the case of former Zaire (Omoregie, 2016). In both Nigeria and the DRC, the difficulties are not of recent, although the situation is exacerbated by factors such as corruption, maladministration and conflicts (war/terrorism) – similar to the resource curse conundrum.

On the other hand, minerals in the DRC contribute up to 8% on the GDP (Tutalife and Jourdan, 2019) – all the same poorly. And the DRC is among the potentially richest countries in the world on the account of mineral deposits. However, it is also the country where the population live in extreme misery (Gregson, 2018) – below poverty line.

There are no comments

Sign in to add your comment.

Recent Posts

Regional mineral beneficiation policy interventions in the SADC: Industry perspectives B.E. Isheloke* , H. von Blottnitz
Mining is a significant economic activity in most Southern African Development Community (SADC)...
read more
A Trajectory of Innovation Outputs among the BRICS Countries: Critical Perspectives of Brazil, Russia, India, China, and South Africa Gustave Mungeni Kankisingi 1 , Byelongo Elisée Isheloke 2
Brazil, Russia, India, China, and South Africa (BRICS) are the important players of the emerging...
read more
South Africa would gain from co-operation among BRICS countries on beneficiation
South Africa needs a sounder mineral beneficiation policy to tackle the challenges the country...
read more
Mining Profile: Democratic Republic of Congo
Whilst many stories coming from the Democratic Republic of Congo (DRC) in recent years have focussed...
read more
Beyond rocks and minerals – why people, nature and gemstones matter?
Reviewing Shame Mugova’s and Paul R. Sachs’ (eds.) Book: Opportunities and Pitfalls of...
read more
The Role of Multilingualism as a tool in Spurting Trade among the BRICS: An Economic Perspective
Abstract As the use of languages play a critical role in economic activities within the...
read more
Influence of Economic Activities in Nigeria and the DRC: could bilateral cooperation be improved?
1. INTRODUCTION Nigeria has huge geo-resources including gas and is the 10th largest oil...
read more
Kiswahili kiel lingvo de paco en naturamika etoso
(kiswahili estas la svahila nomo de lingvo svahila) Verkita de: Elisée Byelongo Isheloke kaj...
read more
Kiswahili kiel lingvo de paco en naturamika etoso
(kiswahili estas la svahila nomo de lingvo svahila) Verkita de: Elisée Byelongo Isheloke kaj...
read more
Dimensions of the digital economy in selected African countries: A case study of artisanal gold mining
Abstract As the fourth industrial revolution begins and amid an uneven ground of its...
read more

Go to blog