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Nigeria
Following nearly 16 years
of military rule, a new constitution was adopted in 1999,
and a peaceful transition to civilian government was
completed. The president faces the daunting task of
rebuilding a petroleum-based economy, whose revenues have
been squandered through corruption and mismanagement, and
institutionalizing democracy. In addition, the OBASANJO
administration must defuse longstanding ethnic and religious
tensions, if it is to build a sound foundation for economic
growth and political stability. Despite some irregularities
the April 2003 elections marked the first civilian transfer
of power in Nigeria's history.
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Exchange rates:
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nairas per US dollar - NA (2002),
111.23 (2001), 101.7 (2000), 92.34 (1999), 21.89
(1998) |
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Location:
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Western Africa, bordering the Gulf of
Guinea, between Benin and Cameroon |
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