Nigeria is still a huge exporter of crude oil, but traditionally it's had to buy refined petroleum products back from Europe or from the Middle East. We see Dangoti, one of the richest men in Africa from Nigeria, what he's been struggling to do: build a huge refinery for petroleum products and supply his own domestic market. And then going beyond import substitution to create companies that can export, not just raw materials, but software products, clothing and fashion could lead to African nations having a more prominent role internationally.
The United Nations says humanity has reached 8 billion, but Western nations are worried about population decline. Africa isn’t, though. The continent is about to shape the rest of the century.
This episode was produced by Haleema Shah, fact-checked by Laura Bullard, engineered by Efim Shapiro and Cristian Ayala, and edited by Sean Rameswaram who also hosted.
Transcript at vox.com/todayexplained
Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts
Learn more about your ad choices. Visit podcastchoices.com/adchoices