The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
Nigeria is home to one in every five Africans and it has the continent’s largest economy. More than half of Nigerians are under 20 years old. Whether all these bright young people will drive growth or generate instability depends largely on whether Nigeria’s economy can produce jobs for them. And Nigeria won’t be able to create jobs at the required pace until it solves its energy crisis.
By 2045, Nigeria will be more populous than the United States, but the entire country currently produces less than one percent as much electricity. A low-energy future—in which a youth bulge meets an underpowered economy that cannot create jobs—would be a security nightmare for both Nigeria and the United States. Many have proposed that Nigeria address this problem by circumventing the complex structural problems with the country’s electricity chain and going small. Some representatives from the United Nations, the