Re-governance of SWFs in Africa: Dilemma of oil-based economies

Oil and gas econom- i c s h a s changed. In Africa’s hydrocarbon-dependent economies, petroleum frequently accounts for 80-90 percent of govern- ment revenues (Angola 80 percent, Libya 90 per- cent, Nigeria 80 percent); which makes them very susceptible to the risks of boom-bust cycles in oil pric