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Nigeria: Oil-for-infrastructure policy a failure

NIGERIA's oil-for-infrastructure programme has produced no benefits for either the country or the Asian national oil companies (ANOCs) that participated in them, says London-based think tank Chatham House. That failure contrasts strongly with China's much more successful collaboration with another African government, in Angola. While the difficult business environment in Nigeria's energy sector is no secret, the report, Thirst for African Oil, illustrates the poor execution of the government's plans to attract Asian investors. It also suggests that the Chinese, Indian, South Korean and Japanese companies that were attracted by the preferential terms on offer, misjudged the underlying agenda

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