The Economics Blog

In the city of Lagos, Africa’s richest man has embarked on an ambitious task. He wants to build a $14bn oil refinery with thecapacityto produce 650,000 barrels per day. Expected to commence operations in 2021, Aliko Dangote’s refinery is one of the many major ongoing infrastructure projects in the continent and a potential solution to Nigeria’s oil import problem.

Across the region, there is a lack of adequate physical infrastructure in sectors such as energy, transportation and telecommunications. In terms of social infrastructure, like water supply, sanitation, education and healthcare, significant gaps still exist which directly impact the lives and livelihoods of citizens. In addition to the familiar factors which impede infrastructure development, the continent’s difficult geography further complicates the problem.

Let’s take the energy sector as an example. Access to reliable and affordable electricity is still a myth in many African countries. According toestimates, around…

View original post 958 more words

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s