@Tarhantulah@EiiScanty The U.S taxes Barbers, maisons, carpenters, waiters, etc. When Ghana starts taxing those people, then your point will start to make sense.
@MrRockson A fire that shuts down 1,000MW at the country’s primary dam is not bad luck. It’s the consequence of decades of deferred maintenance dressed up as an emergency.
Transit passengers can't enter Ghana.
Thus, in the cases of prolonged layovers, said passengers can be comfortably hosted in Airport Hotels rather than sleeping on Airport benches
1. Saw a video of an eloquent lady making that tired Nigeria vs Norway comparison. 🤦🏽♂️
2. Here: https://t.co/JClKgKZAyA
3. You know, the one where the analyst reminds you that Norway and Nigeria discovered oil around the same time. Norway is now fabulously rich and has one of the largest "sovereign wealth funds" in the world. And Nigeria is in the pits. And that it is all due to corruption and mismanagement?
4. No one disputes that Nigeria could have done better with natural resource management.
5. But the reasons why the Nigerian oil economy hasn't been all that great is due to relatively complex POLICY issues. It is definitely not just about "corruption".
6. In fact, some of the challenges Nigeria has faced have been due to EXCESSIVE RESOURCE NATIONALISM at certain points not sellout politicians. The whole idea of introducing "production sharing contracts" was to ensure that Nigeria owned more of its oil as a state. The difficulties Nigeria has had with some of these POLICIES are quite similar to what we have seen in Brazil, Mexico, and even Malaysia. Nothing super unique there. Of course, rooting out corruption would help, too. As it would anywhere in the world.
7. However, anyone who follows these pages knows that I have been trying for more than a decade to explain that comparisons like Nigeria vs Norway, based on the statistically flawed narrative that Africa is super rich in mineral resources, are hollow, misleading, and bad for strategic thinking.
8. The Africa Leadership Initiative kindly reminded me of my age-old campaign today: https://t.co/L28kshi6iW
(They cite my recent Africa Report piece on the subject: https://t.co/HDgPBBGXcK)
9. I have been in activism/policy-advocacy long enough to know that FACTS don't persuade, but at least hear them out.
10. Even if Norway and Nigeria had the exact same governance quality, Norway would still be vastly richer FROM oil & minerals.
11. In 2024, Norway made ~-$118 billion from minerals (fuels, oil, aluminum & nickel). Divided by 5.6 million citizens = $21,000. Even stripping out all value added mineral fuels still = ~$18,000.
12. Average annual mineral income per citizen in Nigeria? Roughly $220 (assuming pop of 230 million) or $255 (assuming pop of 200m).
13. The average Norwegian is thus entitled to 100x the annual mineral cash of the avg Nigerian.
14. As proof that building giant sovereign wealth funds doesn't automatically energe from clean governance, consider Denmark:
Avg mineral income per citizen per year = ~$1000
Consider Sweden:
Avg mineral income per citizen = $1642
Surprise surprise! Neither Scandinavian country has a giant sovereign wealth fund based on mineral exports.
15. If we used the metric of average mineral income per citizen, do you know a country that is almost identical to Nigeria? Laos. Yep, Laos. There sure ain't no giant mineral resource based sovereign wealth fund there either.
16. It is true that in the early days, Nigeria had more oil income per citizen than today. But even so, Britain had way more. And Norway far far more.
17. Nigeria's peak was in 1979 at $447. The next peak in 2025 = $335.
Norway's was in 2008 = ~$23,000.
18. So, please! Let's be careful with this "Africa is so rich in minerals" narrative.
19. The Trump White House deciding that Zambia must cut a mineral deal before the health deal is precisely because of such tropes. The trope makes it look like all African countries have to offer are minerals. Despite massive untapped opportunities in tourism, agroprocessing, etc.
20. In the meantime, some of us will comtinue making progress with phase II of the Royale protocol, which aims to harness Digital Public Infrastructure to boost mining in Africa. This phase focuses on how to maximise incentives, using tech, for investors to restore Africa back to, and exceed, the 16%+ of global mining exploration dollars the continent used to attract until poor policy dropped the figure down to ~10%.
More soon.
@Parisq6gp @thebankofghana You'll take Google's rate over BoG's. If this ain't dumb then I don't know what it is. Smh!
It's like telling me you'd rather go to England to learn about Ashanti history than to go to Kumasi.