The collapse of the oil price in 2014 highlighted the need for Nigeria to dilute its exposure on the commodity.
To see why, one must only consider the core economic principle of supply and demand.
OPEC has been declared dead in recent months as the group of oil-exporters has been unable to agree on a plan to stabilize the market. But was it really ever alive in the first place?
The boom in oil and gas development has brought new revenues to many communities in the U.S., but rural areas in particular have struggled to handle the rapid downturn in prices.
Angola's Dos Santos is buying time. His promise to step down is an attempt to diffuse growing political tensions, as repression continues. He might relinquish his position, but not his power.