Nigeria has for long been regarded as the poster child for the ‘curse’ of oil wealth. Yet, despite this, Nigeria achieved strong economic growth for over a decade in the 21st century, driven largely by policy reforms in non-oil sectors. In “Economic Diversification in Nigeria: The Politics of Building a Post-Oil Economy,” Zainab Usman argues that Nigeria’s major development challenge is not the ‘oil curse’, but rather one of achieving economic diversification beyond oil, subsistence agriculture, informal activities, and across its subnational entities. Through analysis drawing on economic data, policy documents and interviews, Usman poses that Nigeria’s challenge of economic diversification is situated within the political setting of an unstable distribution of power among individual, group and institutional actors.
Since the turn of the century, policymaking by successive Nigerian governments has, despite superficial partisan differences, been oriented towards short-term crisis management of macroeconomic stabilization, restoring growth and selective public sector reforms. To diversify Nigeria’s economy, this book argues that successive governments must reorient towards a consistent focus on pro-productivity and pro-poor policies, alongside comprehensive civil service and security sector overhaul. These policy priorities, Nigeria’s ruling elites are belatedly acknowledging, are crucial to achieving economic transformation; a policy shift that requires a confrontation with the roots of perpetual political crisis, and an attempt to stabilize the balance of power towards equity and inclusion.
About the speaker
Zainab Usman is a senior fellow and director of the Africa Program at the Carnegie Endowment for International Peace in Washington, D.C. Her fields of expertise include institutions, economic policy, energy policy, and emerging economies in Africa. Previously she was Public Sector Specialist at the World Bank where she worked on worked on social sustainability, policy reforms, natural resources management, and disruptive technologies. She has worked on these issues in Cote d’Ivoire, Morocco, Nigeria, Papua New Guinea, the Republic of Congo, Serbia, Tanzania, and Uzbekistan. Zainab is author of the book Economic Diversification in Nigeria: the Politics of Building a Post-Oil Economy, and co-editor of the book, The Future of Work in Africa: Harnessing the Potential of Digital Technologies for All. She also contributed to World Bank’s flagship report on Rethinking Power Sector Reforms in Developing Countries. Her written and broadcast commentary has appeared in Al-Jazeera English, BBC, Foreign Affairs, Project Syndicate, The Washington Post, among others. Zainab obtained her doctorate (DPhil) from the University of Oxford.
