creativity, spirituality, enterprise, and a belief in the supremacy of kinship and brotherhood. Widely considered a pacesetter in these areas, Nigerian culture has been emulated and adopted in several African states. Population, manpower and human resources 142. Nigeria has the largest population in Africa, as well as a large pool of trained manpower capable of governing well and managing the economy efficiently. Nigeria has arguably the highest policy formulation and analytic capacity on the African continent. The wage-earning capacity and potential of its personnel, both within and outside the country, place Nigeria firmly on the path to being a driving force on the continent. Natural resource base 143. Nigeria is the largest oil producer in Africa and the seventh-largest in the world. Its proven oil reserves are estimated at 36.2 billion barrels and, with the continuing discovery of new oil wells, reserves are expected to increase to about 40 billion barrels. At current extraction rates, it is estimated that proven and probable oil and gas reserves will last for more than 50 years, and possible reserves well over 100 years. This stock of natural resources, as well as the fertile soils and pleasant climate, gives the country the potential to build a prosperous economy, reduce poverty significantly, and provide the basic social and economic (e.g. infrastructure) services its population needs. Nigeria – a regional and global powerhouse 144. Nigeria is at the forefront of Pan-Africanism and the African Renaissance, and is the country most known for articulating African problems on the global stage. From fighting colonialism and apartheid through to numerous investments in the development of Africa, Nigeria’s role and position on the continent cannot be overstated. In the West African region, Nigeria has been at the forefront of regional integration in the context of ECOWAS. At the Pan-African level, the country is also prominent in the AU, NEPAD and the APRM. Also to be noted is Nigeria’s contribution to peacekeeping in Africa and the world. Nigeria’s strength in this regard is further augmented by its membership of bodies such as the AfDB, the IMF, the World Bank, the Africa Partnership Forum of the G8, the G77 and OPEC, to name just a few. Collectively, these factors contribute to the position of Nigeria as a regional and global powerhouse. Key challenges 145. Despite democratic milestones and various strengths, many gaps remain, mainly due to the country’s political and administrative history and weaknesses in the constitution and other regulatory mechanisms. The paradox of poverty in the midst of plenty 146. The greatest challenge facing Nigeria is how to channel wealth from the oil and gas industry so as to achieve socioeconomic development. Why does the greatest oil producer in sub-Saharan Africa have the world’s third-largest 59