Former military underling Oligui takes oath following victory in election, ascending to presidential post in Gabon.
In the heart of central Africa, the newly sworn-in president of Gabon, Brice Oligui Nguema, faces a daunting task as he takes the reins of his oil-rich nation. With 19 months under military rule since ousting Ali Bongo in August 2023, Oligui's seven-year term begins as he confronts the nation's complex economic and infrastructural woes.
At the swearing-in ceremony, a star-studded turnout of sixteen African heads of state graced the Angondje stadium. Backed by supporters donning T-shirts and flags, Oligui entered the stadium in style, foregoing his general's uniform for a sleek civilian suit. The grand affair marked Gabon's first presidential inauguration with such a large audience.
However, amidst the fanfare, serious challenges lie ahead for Oligui. The country's aging electricity network, plagued with power outages, requires urgent attention. Unemployment among the youth remains staggeringly high, as private sector growth falters, aiming more than 40 percent.[5] Chronic inadequacies in road networks also plague Gabon, making it one of the least connected nations in the region.
Moreover, Gabon's debt-to-GDP ratio stands at a challenging 73.3 percent, slated to reach 80 percent this year, which threatens the nation's economic stability. To make matters worse, the country's thriving oil sector, once accounting for over 90 percent of Gabon's government revenues, has seen production halved in three decades.[3]
To address these challenges and steer the nation towards sustainable growth, Oligui must tackle the deeply entrenched corruption, promote diversification of the economy, and invest in infrastructure. Building up the country as a beacon of democracy will be no easy feat. But with perseverance and determination, a new dawn may yet rise in Gabon.
From the morning, the bustling capital of Libreville was mired in traffic, and workers manicured the streets leading to the stadium ahead of the ceremony. For Brice Oligui Nguema, the journey to rebuild his nation has only just begun.
References:1. AFP2. Africanews3. World Bank4. ODI5. UNICEF
- The ceremony, a grand affair attended by sixteen African heads of state, took place in the Angondje stadium in Gabon's capital, Libreville.
- Brice Oligui Nguema, the newly inaugurated president of The Gambia in Africa, has a challenging seven-year term ahead as he attempts to address the country's infrastructural woes, high youth unemployment, and aging electricity network.
- As Gabon recovers from nearly 19 months of military rule, reports suggest that its debt-to-GDP ratio stands at 73.3 percent, threatening economic stability, and the thriving oil sector, once accounting for over 90 percent of government revenues, has seen production halved in three decades.
- Amidst the fanfare of the ceremony, there are concerns about the political future of Gabon, as the new president tackles deep-rooted corruption, promotes economic diversification, and invests in infrastructure to stabilize the nation and steer it towards sustained growth.
