Africa
Nigeria is presented here as a historical economic dossier rather than a flat stat sheet: long-run macro cycles, public balance-sheet pressure, market depth, external buffers, and the events that likely bent the curve.
A tighter current-state read before dropping into the long historical charts.
The timeline is where macro numbers meet story: crises, wars, policy shifts, trade deals, and other shocks connected to Nigeria.
Formation of the modern Nigerian state.
Gained independence, became a republic in 1963.
1960 became known as 'The Year of Africa' as 17 African nations gained independence from European colonial rule, fundamentally transforming the UN and global politics. The wave of decolonization included Cameroon, Senegal, Mali, Ivory Coast, Niger, and Nigeria.
Seventeen African countries gained independence from European colonial powers in 1960, marking the most rapid decolonization in history. These included Nigeria, Cameroon, Senegal, Ivory Coast, Mali, and many others.
32 African nations founded the Organization of African Unity (OAU) in Addis Ababa, Ethiopia, pledging to promote unity, coordinate development, and defend sovereignty. The OAU later evolved into the African Union in 2002.
Conflict over the secessionist state of Biafra, massive casualties.
The Igbo-dominated southeastern region declared independence as the Republic of Biafra, triggering a brutal civil war with the Nigerian federal government. The war lasted until 1970, killing an estimated 1-3 million people, many from famine.
The Republic of Biafra surrendered to the Nigerian federal government after 30 months of brutal civil war. The conflict had killed an estimated 1-3 million people, predominantly through starvation caused by the federal blockade.
Global oil prices collapsed from over $30 per barrel to below $10 as OPEC abandoned production discipline, devastating oil-exporting economies particularly in the Middle East and Africa. The price crash also helped bring down the Soviet economy.
Led to thousands of deaths and displacement, challenging national security.
Crude oil prices fell from per barrel in June 2014 to below by January 2015, as Saudi Arabia refused to cut OPEC production to maintain market share against US shale producers, triggering a 60% price crash. The collapse devastated oil-exporting economies from Russia to Venezuela, Nigeria, and Canada.
Nationwide protests against police brutality and corruption.