What next for Equatorial Guinea after oil?

Lessons in natural resource exploitation in African states

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I: When the oil wells run dry

Teodoro “Teodorin” Obiang, the son of Equatorial Guinea’s president who is also the country’s vice president, has an Instagram account resembling that of an influencer and not a possible future head of state. For example, when he visited New York for the UN meetings last September he posted a video showing off his $75,000 a night penthouse. Typical posts include flashy cars, boats, motorcycles, or foreign vacation locations. Seldom does he post anything to do with his own country or its people. In power since 1979, his father, President Obiang Nguema is currently the longest serving head of state in the world. His current legacy project is to relocate the country’s capital from Malabo on Bioko island to Ciudad de la paz on the mainland.

Teodorin is the embodiment of Equatorial Guinea’s squandered oil wealth.…