Nigeria and its energy industry -- can private industry do it better?

Nigeria’s attempts to manage its vast energy industry resources have been complicated. "From 2000 to 2010, more than 100 refinery construction projects were announced in Africa. Only one was built, according to consulting firm Citac Africa, Ltd and others often fell victim to political interference or high borrowing costs," says WSJ.com.  But now, private industry has stepped in to close the gap. (see article)

This change means opportunity for international energy companies who are chomping at the bit to get into Nigeria's power generation and fuel products industry. Many U.S., Asian and European companies are expanding operations in Africa. In addition, this will also support recent efforts to privatize Nigeria's power plants. It’s an exciting time for the country. Read more in the Wall Street Journal Article, Africa's Richest Man Bets Big on Oil Refinery, Aliko Dangote Set to Spend $9 Billion on Refinery Project as Wave of Consumerism Sweeps the Continent.