Between 2004 and 2014, Nigeria experienced something close to an economic miracle. The economy expanded at an average annual rate of between six and seven percent. Nigerian banks expanded aggressively across Africa. Mobile phones transformed communication and commerce. Foreign investors poured into Lagos, while consumer markets grew rapidly. For a brief period, Nigeria appeared to be on the verge of becoming one of the world’s most important emerging economies. Today, that decade feels increasingly distant. Inflation has eroded household inc
Between 2004 and 2014, Nigeria experienced something close to an economic miracle. The economy expanded at an average annual rate of between six and seven percent. Nigerian banks expanded aggressively across Africa. Mobile phones transformed communication and commerce. Foreign investors poured into Lagos, while consumer markets grew rapidly. For a brief period, Nigeria appeared to be on the verge of becoming one of the world’s most important emerging economies. Today, that decade feels increasingly distant. Inflation has eroded household inc