Angola/Nigeria/South Sudan: Perils of Relying on Oil as the Only Source of Livelihood: Lessons from South Sudan, Nigeria, and Angola

Mar 31, 2016 | Astrid R.N. Haas, Mail & Guardian Africa
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Developed off the back of one natural resource is risky for any country. It makes them reliant on external conditions beyond their control, such as global demand and supply. Since June 2014, global oil prices have fallen by more than 70%. Consumers are happy. Oil producing nations are not. One example of this is South Sudan. It is the world’s youngest nation, having gained independence from Sudan in 2011 after more than 20 years of war.