logo
episode-header-image
Nov 2024
20m 27s

How Africa’s Biggest Economy Lost 50% of...

Economics Explained
About this episode

Nigeria was once predicted to be the fastest-growing economy in the world, but it has faced serious challenges since 2014. In this video, we explore how Nigeria grew with oil wealth and urbanization and what led to its struggles with corruption, instability, and missed chances. Learn how its resources, regional differences, and global reputation have shaped its journey. Can Nigeria overcome these issues and become Africa’s top economy again? Watch to find out.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Up next
Aug 11
Why do We Still Need to Work?
A century ago, economist John Maynard Keynes confidently predicted that by 2030, we would only be working 15 hours a week. Yet, here we are—working harder than ever! While technology has dramatically boosted productivity, our work hours remain largely unchanged, and the prevalenc ... Show More
15m 56s
Aug 5
Do We Still Need Central Banks?
Almost every nation relies on a central bank, but the US is buzzing with talk of scrapping the Fed—the globe’s mightiest financial force! From its 1694 origins to battling today’s debt and inequality crises, we break down why central banks are crucial and what chaos could unfold ... Show More
18m 39s
Jul 21
Iran's Economic Dilemma
Iran boasts vast oil reserves, a strategic trading position, and a skilled workforce; however, sanctions and internal issues hinder its progress. From black-market oil to power outages, discover why this energy giant struggles to thrive. Can it break free from its economic troubl ... Show More
16 m
Recommended Episodes
Jun 2023
Is Africa’s debt cycle unbreakable?
Ghana was once considered a success story and a model for African development. But after suffering several economic shocks, the west African country is now struggling to pay off its debts. The FT’s west Africa correspondent Aanu Adeoye and Africa editor David Pilling explain how ... Show More
17m 42s
Feb 2025
The Price of Progress: Economic Realities in Africa with Prof. Abdoulaye Ndiaye
Donate to the critical aid campaign at http://btml.us/thinkingmuslimAfrica is a resource-rich continent with immense potential. When countries within the continent demonstrate good governance and sound economic judgment, they thrive. It is, of course, overly simplistic to discuss ... Show More
1h 24m
Dec 2024
Pourquoi les pays riches en pétrole finissent souvent pauvres ?
Pourquoi les pays riches en pétrole finissent-ils souvent dans la pauvreté ?C’est le paradoxe de la malédiction des ressources : quand la richesse naturelle devient un poison économique. Aujourd’hui, on décrypte ce concept fascinant avec les exemples du Venezuela, de la Russie de ... Show More
9m 12s
Dec 2024
Accra, Ghana: Living, Cooking and Making Chocolate.
Selassie Atadika is a chef, food innovator, and the founder of Midunu, a nomadic private dining experience based out of Accra, Ghana. She’s also happened to have visited 40 African countries. Lale chats with Atadika about the rich bounty of diverse cuisine to be found across Afri ... Show More
25m 19s
Jan 2024
Africa is NOT Poor Because of Colonialism: Here’s Why. - Magatte Wade
Magatte Wade is an entrepreneur, author and business leader focussed on economic development in Africa, and on correcting the various misconceptions about the state of the continent, its history, and its future potential. She is the Director of the Center for African Prosperity a ... Show More
56m 56s
Feb 2024
South Africa's youth struggling to find jobs
South Africa's finance minister Enoch Godongwana, acknowledged that the country's economy is facing 'a tipping point'. There's massive youth unemployment in South Africa and this recent forecast won't be favourable to young people. We hear reaction and look at possible solutions. ... Show More
39m 9s
Dec 2018
James Robinson on Why Nations Fail
Metrics on the average living standards from the best-off countries in the world (say, Norway) to the worst-off (perhaps the Central African Republic) vary by a factor of 40 to 50. So notes James Robinson, the Reverend Dr. Richard L. Pearson Professor of Global Conflict at the Un ... Show More
18m 19s
Aug 10
Has Ghana's ‘Year of Return’ been a success?
Back in 2019, Ghana’s then president sent out an invitation to people with African heritage to come to Ghana. It was called the Year of Return - a campaign by Ghana's tourism board to mark 400 years since the first documented African slaves were taken to America. The campaign bui ... Show More
26m 29s
Jan 2025
BRICS expands to 54.6% of world population by adding Nigeria, Africa's most populous country
BRICS added as a new partner Nigeria, Africa's most populous country, with the 6th-biggest population on Earth. BRICS+ now has 10 members and 9 partners, which make up 54.6% of the world population and 42.2% of global GDP (PPP). Ben Norton explains the importance of this expansio ... Show More
14m 44s
Aug 2024
The Scramble For Africa
The late 19th century was a period of imperialism for Europe, which resulted in a landgrab of epic proportions. The entire continent of Africa was sliced up, to be swallowed by five rival nations. In the blink of an eye, everything changed for the people of Africa, and within a d ... Show More
1h 3m