Discover 10 facts about Equatorial Guinea's oil economy and political challenges

• Equatorial Guinea, a small country on Africa's west coast, discovered oil in 1995 but remains a textbook case of the resource curse
• The nation consists of a mainland and several islands, including Bioko, where the capital Malabo is located
• It has been ruled by two of Africa's most notorious leaders, with the current president, Teodoro Obiang Nguema, holding power for over 40 years

Equatorial Guinea, a small but intriguing country on the west coast of Africa, is known for its rich history and significant oil reserves.

Despite its wealth in natural resources, the nation faces a paradox of prosperity, with much of the population said to be living in poverty.

Facts about Equatorial Guinea. Photo credit: Teodro Nguema via X
Source: Getty Images

Here are ten fascinating facts about this unique nation:

Oil in Equatorial Guinea

Equatorial Guinea struck oil in 1995, transforming it into one of sub-Sahara's biggest oil producers. However, this wealth has led to the resource curse, where the abundance of natural resources has not alleviated widespread poverty.

Geography and Composition

The country consists of the mainland region called Rio Muni and five islands, including Bioko, where the capital Malabo is currently located. Another city, Ciudad de la Paz, is under construction to become the new capital.

Colonial History

Equatorial Guinea was formerly a Spanish colony. The area played a significant role in Spain's Atlantic slave trade development during the colonial era.

Political Leadership

Since gaining independence in 1968, the country has been led by two of Africa's most notorious leaders, President Francisco Macias Nguema and his successor Teodoro Obiang Nguema. The latter is Africa's longest-serving president, having been in power for over 40 years.

Human Rights Issues

Both leaders have been described by rights organizations as some of Africa's worst abusers, with Francisco Macias Nguema's rule prompting a third of the population to flee due to his reign of terror.

Demographics and Language

Equatorial Guinea has a population of 1.6 million people. The official languages are Spanish, French, and Portuguese, reflecting its colonial past and diverse cultural influences.

Life Expectancy

The life expectancy in Equatorial Guinea is relatively low, with men living an average of 59 years and women 63 years.

Media Landscape

Media pluralism is said to be limited, with government-controlled radio and TV being the primary news sources. However, online media outlets have emerged, providing some independent news coverage.

Historical Milestones

Key historical dates include the sighting of Bioko Island by Portuguese navigator Fernando Po in 1471 and the Treaty of El Pardo in 1778, which saw the transfer of Bioko to Spanish control.

Political Unrest

In recent history, the discovery of significant oil and gas reserves in 1996 brought rapid economic growth, although benefits have not reached the majority of the population. The government has also faced various coup attempts and political unrest.

Equatorial Guinea govt arrests official

Meanwhile, Legit.ng earlier reported that the Director General of the National Financial Investigation Agency (ANIF) in Equatorial Guinea, Baltasar Engonga, has been arrested for allegedly recording over 400 sextapes involving the wives and sisters of notable figures in the country.

The shocking allegations emerged during a fraud investigation, which prompted ANIF officials to conduct an impromptu search of Engonga's home and office.

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Source: Legit.ng