Africa’s oil-rich nations are experiencing major reduction in investment, says the World Bank.
In Africa nations, oil as a resource is one valuable and profitable resource for national growth. However, investment in oil has slowed down in comparison to other resources.
According to the World Bank annual reports, oil-abundant countries has suffered severe decline in Sub-Saharan Africa investments because of the abundance of metal resource.
The report reveals that Africa’s oil-rich nations lack sufficient investments in emerging or established exploration and production of oil fields which has led to unstable international pricing of extractives.
The World Bank research states that following the collapse in commodity prices, investment growth remained below the long-term average in fragile nations.