Africa's Oil: A Blessing or a Curse?

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Paving the Road to Prosperity

According to the World Bank, African governments need to spend a collective $93 billion each year to rectify a shortage of tarred roads, deep sea ports and power plants that will aid in the continent’s overall development. While there is plenty of work needed to be done, the prospect of continued oil exploration and so increased wealth is huge, given estimates that Africa still holds 127 billion barrels of untapped oil, numbering almost 10 percent of global reserves.

(Photo: SIA KAMBOU/AFP/Getty Images)

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