Paddy Adenuga’s entrepreneur story and the depressing predictability of Nigeria’s elite

It was the economist Albert Hirschmann who espoused the idea of an ‘enclave economy’ in the late 1950s. This is a phenomenon where one sector of a country’s economy is highly developed but exists in a way that has practically no bearing on the rest of the country’s economy.

The best example of this is, of course, the oil industry, especially in developing countries. In Nigeria, it’s particularly stark when you consider the level of sophistication, investment and general development...

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