The Nigerian Industrial Behemoth That Could Reshape the African Economy
Summary
Hosts Joe Weisenthal and Tracy Alloway interview economist Joe Studwell about his book *How Africa Works* and the continent's industrial potential. They discuss the Dangote Refinery IPO, arguing that rising population density and urbanization are driving demand for large-scale manufacturing. Studwell contends that big firms, not just SMEs, are essential for productivity growth, while addressing challenges like weak governance and the impact of Chinese investment on African development.
Topics discussed
Sponsors and show introduction
Introduction of Joe Studwell and the Dangote Refinery
Aliko Dangote's business history and cement production
Population density as a driver of economic growth
Nigeria's economic performance and Lagos development
The rise of large firms and the 'flying geese' model
Manufacturing complexity and private sector leadership
Studwell's research process for 'How Africa Works'
China's manufacturing shift and labor cost advantages
Why manufacturing is essential for development
Ethiopia, ethnic cleavages, and intra-African trade
Land abundance and the emergence of landless peasants
Rwanda's financial model and capital controls
Conclusion, future outlook, and final sponsors
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