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The Nigerian tiger

Its economy may be booming, but Nigeria is convulsed by a personality clash between its old president and his successor

By Jonathan Power   July 2008

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Nigeria contains one quarter of the world’s black population. So it is not surprising that—apart from being crazy about Barack Obama—they tend to think the world begins and ends with their country.

But this inward focus seems to have produced results. In the eight years of the last administration of Olusegun Obasanjo, who stepped down as president last May, Nigeria paid off its huge debt, stabilised its currency, cut inflation and established effective macroeconomic and fiscal policies. Economic growth is now at 9 per cent a year. I have been a frequent visitor to Nigeria over…

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