High dependency and varying revenue projections make the use of Extractive Industries (EI) revenues central to the political economy of many African countries and the region as a whole:
􀂃 In 2001, oil production generated 20 percent of the combined GDP of sub-Saharan Africa.
􀂃 Oil revenues made up between 64 and 82% of government revenues in Angola, DRC, Equitorial Guinea, Gabon and Nigeria.
􀂃 Between 2003-2012, it is estimated that oil production will be worth more than $500 bn, and represent a significant increase in petroleum revenues for some governments (e.g. a rise of 105% for Angola, 46% for Sudan, 36% for Nigeria, 10% for Congo-Brazzaville)
􀂃 However, others will suffer serious declines (e.g. Equitorial Guinea –1%, Gabon –33%).
􀂃 In 2002, mining constituted about 8% of the GDP of the Southern Africa Development Community and 43% of the region’s exports. Botswana, DRC, Namibia and Zambia all derived over 50% of their export earnings from mining.