The power of social enterprise: Can a forgotten nut boost Nigeria’s economy?
Nigeria has been drowning in oil for decades.
Since the mid-1950s, the country has suffered from a “resource curse” economy, where the main source of economic development, oil, fuels the concentration of wealth in the hands of a few elite and corrupt political rulers. Oil not only has warped Nigeria’s political and economic development, but also gas flares from oil extraction in the Niger Delta Region make the oil industry in Nigeria one of the largest contributors to greenhouse gas emissions on Earth.
While numerous books and documentaries have shined a light on this crucial global issue, the world seems at a loss for how to address it. The solution, for one startup, isn’t a resource under the ground, but one growing from it. In fact, it’s one of the original ingredients in the world’s most ubiquitous soft drink, Coca-Cola.