Today's @bopinion post is about Nigeria. I expect its conclusions will not come as a surprise to most Nigerians, but it's good for Americans to be thinking about Nigeria and its problems.https://www.bloomberg.com/view/articles/2018-10-16/how-nigeria-can-escape-the-natural-resource-curse …
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To escape the doom spiral of the Resource Curse, Nigeria should look to a country that seems to have beaten the curse: Botswana. https://openknowledge.worldbank.org/bitstream/handle/10986/18304/multi0page.pdf?sequence=1&isAllowed=y …
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Botswana's approach is basically: 1. Pour resource revenues into a Sovereign Wealth Fund 2. Depreciate the currency 3. Use SWF to stabilize the budget 4. Invest a bunch in education, health and infrastructurepic.twitter.com/4igm6XIQvn
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Nigeria is already taking some of these steps, which is great.pic.twitter.com/oaEc1lfhW9
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But Nigeria is missing one big piece: Investment in education. (It could also stand to invest more in health.)http://thenationonlineng.net/nigerias-disappointing-investment-education/ …
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Instead of subsidizing fuel, Nigeria needs to subsidize education (which doubles as child care) and health. This will provide jobs, relieve poverty, and - most importantly - build human capital. (end)pic.twitter.com/h2tiCL0cyA
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End of conversation
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You love graphs without a 0 on the y-axis. That is a 2% drop over decades. Not exactly a precipitous decline.
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That's just the way our in-house graphics utility does things.
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It's just one of my pet peeves. Misleading y-axes is a major journalistic innumeracy hot button to me. Not that I'm saying you are innumerate, but surely you can see the problem.
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