Why Aren't African Oil-Rich Nations Thriving Like Their Middle Eastern Counterparts?

The question of why no African oil-rich countries are as economically successful as their Middle Eastern counterparts is complex and multifaceted. Often, the root causes lie in historical and current political and economic structures, including neocolonialism and opaque government agreements. Let us delve into the reasons behind this disparity and examine the economic realities of both regions.

The Impact of Neocolonialism on African Oil-Rich Nations

Neocolonialism, a term coined to describe the control exerted over former colonies through economic or political means, continues to have a profound impact on African oil-rich nations. Like their counterparts in the Middle East, these countries are often under control of external powers that facilitate the extraction and sale of natural resources with little benefit returned to the local population.

Take the example of South Africa, where a major diamond mine has been in operation for over a decade without paying any royalties to the government. Farmlands and even entire villages have been cleared to expand operations, sometimes with fatal consequences. However, these incidents often go unreported by mainstream media. When local populations try to voice their concerns, governments may dismiss them or, in some cases, resort to military coups to install puppet regimes that comply with the interests of foreign powers.

This dynamic is not unique to South Africa but is a recurring pattern in many African nations. For instance, former Ambassador to Africa and award-winning filmmaker John Pilger has shed light on these issues through his podcast and documentaries, bringing attention to the systemic issues plaguing African oil-rich nations.

Economic Disparity Despite Natural Wealth

The premise that oil-rich African nations are not thriving as their Middle Eastern counterparts may be misleading. In fact, several African countries like Algeria, Nigeria, Angola, Egypt, and South Africa have made significant strides in their economic development despite their reliance on oil and gas. Their GDP figures are a testament to this:

Algeria: $208 Billion Nigeria: $262 Billion Angola: $140 Billion Egypt: $405 Billion Ivory Coast: $70 Billion Morocco: $145 Billion Ghana: $80 Billion Congolese Republic: $56 Billion South Africa: $420 Billion Cameroon: $45 Billion Bahrain: $39 Billion Iraq: $210 Billion Kuwait: $162 Billion Qatar: $171 Billion Oman: $88 Billion United Arab Emirates: $350 Billion Saudi Arabia: $700 Billion Turkey: $820 Billion Iran: $360 Billion

These numbers reveal that many African oil-rich nations are performing well, with similar economic output to their Middle Eastern counterparts, except in a select few regions or specific years. Egypt, Morocco, and even Cameroon are experiencing growth driven by other mineral wealth, such as aluminum, phosphates, and iron, which are also abundant in some Middle Eastern countries.

The Role of Technology and Other Non-Oil Sectors

Modern economic theories and practices indicate that countries are no longer solely dependent on oil and gas for economic prosperity. As technological advancements and diversification efforts increase, these resources are becoming less crucial to a nation's overall economic health. Countries like Algeria, Nigeria, Angola, and South Africa are embracing technology and developing other sectors, thereby contributing to their economic resilience and growth.

The success of these nations in various sectors, such as agriculture, manufacturing, and services, further underlines the misconception that oil wealth alone dictates economic success. For instance, South Africa's tremendous GDP ($420 billion) suggests a robust multi-sector economy beyond just its oil and gas industries.

Conclusion

The disparity between African and Middle Eastern oil-rich nations is not as stark as it might seem. While historical and current neocolonial practices have certainly impacted African nations, numerous African countries are demonstrating impressive economic growth and development. By focusing on diverse sectors and embracing technological advancements, these nations are on track to achieve similar levels of success as their Middle Eastern counterparts.

It is crucial to acknowledge the efforts and achievements of African oil-rich nations, rather than perpetuating the myth that they are inherently lagging behind. Further, addressing the underlying issues of economic disparity requires a global collaborative effort, promoting transparency, and equitable distribution of resources.