Vol.10 No.4: Governance in Africa's Oil and Gas Exporting Countries: Evidence from the Ibrahim Idex
02 May, 2012
Several African nations have recently joined or are about to join the ranks of the continent’s Oil Producing Countries (OPCs). This has raised hopes as well as anxieties about the governance prospects of the new OPCs. On one hand, it comes with the potential for the new OPCs to overcome one of the perennial obstacles to their development, a weak revenue base. Indeed, average African OPC revenue has creased from $200 billion in 2002 to an estimated $500 billion in 2012, reflecting global price increases and strong competition among oil companies around the world over the past 5 years. On the other hand, it carries the prospect
of mis-governance that has afflicted many of the developing world’s OPCs.