Equatorial Guinea's national economy strategy Horinzonte 2020: Lessons for Nigeria.

Equatorial Guinea is the richest country per capita income on the African continent, and third largest oil exporter. Crude oil and LNG exports account for 80% of the government’s revenues and 95% of export income.

Horizonte 2020

The national economic strategy Horizonte 2020 has been responsible for transforming the nation while improving productivity and accelerating economic growth. The plan is divided into two phases; the first phase consisted of building up excellent infrastructure models such as seaports, airports, the new administrative capital Oyala, roadways, buildings while ensuring that everyone is on the electrical grid. The second phase, currently underway, focuses on diversifying the economy by targeting sectors such as fisheries, agriculture, tourism and finance, as well as reinforcing human capital and advancing technological progress.

“Mother Nature has provided us with the fortune of having found oil, but what has caused great change and transformation in Equatorial Guinea is not oil but the high political will within the senior management of the state,” declares Prime Minister Francisco Pascual Obama Asue. Thinking of how much Nigeria has earned from crude oil from 1960 till date alone, it shows that our leaders do not have the will to make the sacrifices that our country needs.