You Know What Really Grinds My Gears?

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You know what really grinds my gears? African Dictatorships.

Since when is it ok for a person to use public funds to finance a life of luxury and extravagance? When did this practice become ‘couth’?

It didn’t.

Son of an Equatorial Guinean dictator, Teodorin Obiang is set to purchase a $380 million yacht, that would become world’s 2^nd most expensive private boat—and that is just the tip.

The 41-year old son of dictator Teodoro Obiang Nguema Mbasogo, comfortably spends his time in a $35 million mansion in Malibu, with a convoy of luxury cars and a private jet.

It is reported that the younger Obiang has effectively siphoned more than enough money from the public sector to finance his lavish escapades. As his monthly salary is $6,799- it would take 4,600 years for him to pay for the yacht.

But how does this man have keys to the Equatorial Guinean money vault?

O—he happens to be the country’s ‘agricultural minister’ (Even though he spends a majority of his time in California) (It must be for work purposes….) A position that he must have ‘earned’ within his father’s government.

If this doesn’t grind your gears, then you may want to ask one of the 80% of Equatorial Guinean citizens who fall below the poverty line, who will not have keys to the yacht.

This example is just one of the many relating to corrupt African politics.

It is these dictatorships that breed corruption and divide the population.

Effectively, African dictatorships are the seed of current political corruption, and a possible result of prior colonial rule- where Portugal ‘s (In this case) abandonment of Equatorial Guinea left a rat race for the throne.

These dictatorships enable greedy men to take what they want, and give back only what they want.

But do you blame it on the Portuguese? Or on greed?

Whatever the case, I want a yacht too.



Courtesy of Lauren Frayer
http://www.aolnews.com/2011/02/28/teodorin-obiang-african-dictators-son-orders-380-million-lux/ 

Electricity in Nigeria: An Example of Post-Colonial Decision Making in Africa

Nigeria’s President, Goodluck Jonathan, came into office in 2010 touting his dedication to rooting out corruption and promoting progress (Economist). Although Jonathan has sacked the country’s anti-corruption chief and emphasized much-needed electricity reform in last year’s election, Jonathan’s promises have unfortunately fallen short (African Leadership Index 2012, Economist).

Nigerian President Goodluck Jonathan. Economist.com

According to Nicolas van de Walle’s essay, “Decision making in Post-Colonial Africa”, state controlled industries flourished throughout Africa after decolonization due to inherent patron-client relationships, dominant political ideologies, and low capacity.  Indeed, nationalization of the energy industry in Nigeria fits van de Walle’s theory.  Nigeria’s power sector has been plagued by corruption. Jonathan’s power minister, Barth Nnaji recently resigned under intense pressure from anti-privatization activists, seeking to block the government’s efforts to unbundle and sell off the Power Holding Company of Nigeria (Economist).

Currently monopolizing the power industry in Nigeria, the PHCN is prone to bloat, frequent power outages, and unidentified “ghost” workers (Economist). While privatization could have promised relief from these problems, investors still fear that the industry is too corrupt to be profitable (Economist). Indeed, while lingering postcolonial nationalization ideologies, corrupt clientelism, and low capacity still exist, privatization of public industries such as Nigeria’s power sector remains a distant hope.

 

 http://www.economist.com/node/21562246