The macroeconomic and sociopolitical history of Nigeria is first and foremost a history of oil and the distribution of income that accompanies it. After the end of the Biafran War in 1970, and the tumultuous shifts of an economy that was volatile and dependent on the fickle changes in the oil and gas industry, the growth rate became stable. This was made possible by the changes that were made to the economic growth model, which followed from the emergence of a service economy that developed from the end of the 1990s into the beginning of the twenty-first century, and which included telecommunications, banks, entertainment, and the like. The Nigerian economy grew at a significant pace (7% per year, on average) and became the largest economy on the African continent. Nonetheless, forms of diversification of the productive sector came up against certain constraints. One of the most significant of these structural limits was the generation of electricity. When compared to other countries, it is easy to see why the quality of electricity in Nigeria is often said to be among the worst. This hampers the attractiveness of the country in the eyes of foreign companies, and as a corollary, the diversification of productive activity in the country. Both the private and the public sectors are largely dependent on oil and gas as sources of revenue.
If certain aspects of the infrastructural deficits in the country can indeed be overcome, and growth can continue, institutional issues and corrupt practices are still an inhibiting factor. The resolution of constraints such as these is fundamental to creating an atmosphere of inclusive development in the country of Nigeria. Previous governments have neglected the problem of territorial disparity, and have only manager to alternate the dynamic of concentration of revenue in three geographical areas. The persistence of such a public policy will continue to impact the sociopolitical context. Amongst the imminent measures to be taken by the new president is the quelling of the Boko Haram movement, which significantly affects some of the most disadvantaged regions in the country. This fact in itself could constitute one of the most compelling motivations for rising to the challenge of promoting an inclusive model of development in the heart of such a vast an rich country as Nigeria.
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