Page 66 - Nigeria one mag 4 edition en

For African countries that have traditionally produced oil and gas, diversifying away from these two commodities
has been a challenge. Countries like Chad, Congo, Cameroon and Gabon, which have other raw materials on their
soil (wood, iron ore, gold, manganese, rubber, palm oil, cotton, coffee or cocoa), have succeeded to some extent,
without giving up on oil and gas. Countries that started late in oil & gas, like Ghana and Egypt, are pursuing their
intensive exploitation. On the other hand, the tax rule to capture a portion of Oil and Gas revenues is rare, as
demonstrated by the limited number of large sovereign wealth funds on the continent. Progress in reducing Oil
and Gas tax spending, mainly through subsidies and energy pricing, is also difficult to achieve.

Africa political map

Energetic transition 66