The Nigerian Industrial Behemoth That Could Reshape the African Economy | Odd Lots

Earlier in August, it was reported that Nigeria's Dangote Refinery secured a $1 billion underwriting for its upcoming stock market listing, which is set to become Africa's largest IPO. Indeed, the whole continent has seen lots of economic growth in the last few years: According to the United Nations, growth across Africa was expected to reach 4.0% in 2026. The history of economic development on the continent is a vexed one; access to critical resources, whether its minerals or petrochemicals, has not always equated to improved economic conditions. To understand what is going on in Africa, we talk to Joe Studwell, the author of How Africa Works: Success and Failure on the World's Last Developmental Frontier. The product of a decade of reporting, Studwell's book argues that African countries, in many instances, have failed to adopt development strategies (an industrial policy that favors export manufacturing, for instance) that mirror Asian counterparts. And while development has been uneven, Studwell is optimistic that the seeds of sustained development are increasingly taking root, at least in some countries. We speak to Studwell about the Dangote IPO, why development has historically been so difficult, Rwanda's dreams of becoming Africa's Singapore, and why Lagos is one of the most impressive cities in the world.

See Odd Lots Live in LA September 2026

Chapters:

Watch Bloomberg Vodcasts

Watch more Odd Lots episodes

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Join the conversation: discord.gg/oddlots

Subscribe to Bloomberg Podcasts

Check out more Odd Lots

Get the Odd Lots newsletter

And for all things Odd Lots, visit

#Investing #Markets #Finance #Bloomberg #Podcast #OddLots

For coverage on news, markets and more

Visit our other YouTube channels:

Bloomberg Television

Bloomberg Originals