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Nigeria & Mexico similarities
- oil producers
- big populations
- big international debt
- history of macro problems
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Mexico has grown faster over long run because....
- faster stronger reforms
- better government
- more attractive for foreign investors
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Nigerian History
- 250 ethnic group
- Islamic traders brought literacy to north
- south stayed more isolated, trade with Europe via the sea, growth of Christianity
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Oil boom benefits
- large revenue from being a member of OPEC
- spent money on infrastructure, rebuilding, education
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Oil boom problems
- corruption
- too dependent upon oil exports
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Nigeria & US relationship
- US buys 40% of Nigerian oil
- US is nigeria's largest trading partner
- Nigeria helped US during 1970s oil embargo by Arabs
- lots of Nigerians came to US
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